More people are starting to get the entrepreneurial spirit and are looking to get out and start their own businesses. Whether it’s something on the side to bring more money, chasing a dream, or you’re simply trying to be your own boss, starting your own business can be very challenging. One thing that can make building your own brand even harder to do is partnering up with the wrong type of people. Whether it’s a friend, family member, colleague, or just a fellow entrepreneur trying to collaborate, you must know whether or not it’s in your best interest to do business with them. Here are 3 types of people that you’re better off not doing business with.
1. Motivated & Unprepared
This is the person who is very ready to embrace the grind. He or she is ready to do whatever it takes to become successful. This person needs success like a fish needs water and knows that even sleep is optional when it comes to the hustle and grind. However, this person’s enthusiasm can easily hide the fact that they lack the expertise, ideas, and careful planning skills that it takes to build a successful business. They may think that Rome could’ve been built in a day if Romans were “hungry” enough. Their grind and hustle is going to make them ready to work for however many hours it takes, but this means that most of your time will be spent correcting their mistakes, and trying to explain why certain ideas they may have won’t work out.
2. The “Boss”/Egotistical/Inconsiderate Partner
This is the potential business partner who decides to go 50/50 with you, except they’ll decide that their 50% is worth 80%. The main problem with this type of person is that they’ll be inconsiderate to any of your plans or critiques if they don’t completely match their “vision” for how things may work. Even though you’re taking just as much of a risk as them, they’ll still make decisions that are rash and/or last minute without consoling you, or simply think that they are making the best decision without hearing your opinion. You can tell this type of person by the way that everything is “I” or “My” when discussing the business, and it only becomes “we” and “our” when it comes time for their side of things to be done.
3. Entre-Faux-Nuer/Indefinitely Waiting Until The Right Time
This is the person who loves to rub elbows with fellow business owners and like-minded people who may also be ready to start a business. This person is always down to network and discuss business plans, and is willing to work with other individuals. However, for one reason or another, the plans tend to always fall through, along with all intentions of starting the partnership in the near future. This is the type of person is usually someone who has extra income or a well-paid career, and loves the idea of “making moves” and “talking real business” with people, but never actually puts any real action or takes any risks to get it done. While it’s very understandable to back out of certain business ventures and potential partnerships after taking time to work out more details and realizing it’s not the right time, the “Entre-faux-nuer” has a very lopsided ratio of people they have “talked business” with compared to people they have actually done business with.
While starting a business, or at least starting something on the side where you can be your own boss, can be challenging, it is also very rewarding. The best way to make sure that you actually see these rewards is to make sure you’re working with the right kind of people. Making sure that you stay away from these three types of people can make sure that everything goes smoothly and nobody has their time wasted.