Businesses are run by individuals. Therefor the type of the individuals who run any particular business play significant role whether the whole venture will work out or not.
If you are in business with the wrong type of people, your odds of “making it” will decrease dramatically. Even worse if you are currently a person who falls in to one or more of the negative types.
For me this is another basic reference article that I write that I better follow as a law. I hope it will be beneficial for you too.
Here is a list of the worst type of business partners:
1. Someone who is not serious
They usually hang around, talk a lot but do not work a lot. One day is on, the other is off. They lack passion and commitment. No obsession with the business and no determination for success. These people have many other priorities before the business.
2. The lazy one
One word – lazy. Characteristics of such individual: Doesn’t want to work, doesn’t want to improve, doesn’t take initiatives, always needs to be pushed to do something, always relies on others to do his/her work. Those people are parasites and they do more harm than good.
3. The idiot
Never ever partner up with idiots. No matter how tempting it is and how resourceful they are. An idiot is always going to find a way to do something idiotic and screw up everything.
4. People who have no loyalty
You don’t want to do business with people who are going to change sides and “betray you” in any given moment. Unfortunately in most cases you won’t find it out about them until it happens. Research their past and run some psychology tests on them, it helps.
5. Liars and criminals
It’s an obvious one.
6. People who lack common values and shared goals with you
Huge problem. When one partner wants something totally different than the other. When your vision is totally different, when your comfort levels are different, when your styles of work are conflicting each other. In those situations the partnership just won’t work out.
7. People who lack emotional stability
Business is tough. Problems happen every day. Emotional stability is key for consistent performance. Otherwise you destroy yourself and your venture.
8. People who moan, whine and complain all the time
People who are pessimistic about everything, people who have victim mentality and people who complain about everything and always blame someone or something for their failures.
Those people are losers and they are toxic. Stay away from them.
9. Complete lack of skills, knowledge or resources
They have to add value
However, while skills are important, they alone don’t create winning businesses. Someone without any skill who doesn’t fall in one of the bad categories above will find a way to add value or will find a way to get some skill and learn something.
The good types of partners are the opposite of the bad types.