Transcript for Episode #26 of the 37signals Podcast, Q&A with Jason and David, is now online. You can also listen to it. Below is an excerpt.
David: Something that matters when you’re trying to pick a business partner is that it can’t just be about the craft. If all I was interested in doing was programming, then I don’t think I would have been a good fit for a business partner. If you want to be a partner in a business, you have to be willing to wear many more hats than just that of your craft. You have to dive into all sorts of issues: personnel, building a company, finance, marketing. There are so many other things than just the technical aspect of it.
Jason: I also think it’s important to make sure that you’ve worked with this person for a while. I get emails occasionally from people starting businesses looking for business partners. They’re like, “Hey, I just met this guy who’s a programmer. Should we go 50/50 on something?” It’s like a marriage. You should date for a while. You have to work with somebody and get to know them. You’ve got to make sure you can get along and you can stand someone for a long period of time. It’s important to work with somebody first before you link up in legal terms, because a business is a legal entity and it can be messy if things don’t work out.
David: I’ve seen it not work out a couple of times for people. It’s incredibly painful. Once you’ve split things up into equity and somebody owns a part of your company, it is incredibly painful to divorce yourself from that person. You really have to be sure that it’s a good fit.
John
on 24 May 11Very True, no one I have partnered with was willing to do anything that needed to be done. Thus I have no partners.
Felix Dennis says to never have a business partner. I have to agree with him. Finding out the other guy isn’t willing to work makes it hard to fire them. I only hire people now. No one seems to bring anything to the table I can’t do, or learn to do, or hire someone to do.
Even some guys I have worked with in the past, had great work ethic in a job, become slothful business partners. Many on them say “I want to be part of that” but they aren’t willing to do anything except collect a check.
It is nice that you guys seem to get along as partners, and are willing to work. My experience has been the opposite.
Taylor Brooks
on 24 May 11How can two single guys liken a business relationship to a marriage? Co-founder relationships are nothing like a marriage, unless of course you’re married to your co-founder.
It’s probably better to say, I think it’s like a marriage relationship, but who knows…
Mohammad
on 26 May 11The problem with holding off on choosing a business partner, and treating it as a marriage – is that you could be searching for years. By the time you find a good business partner, the market will have changed.
JF
on 26 May 11The problem with holding off on choosing a business partner, and treating it as a marriage – is that you could be searching for years. By the time you find a good business partner, the market will have changed.
The market changing is a smaller problem than being tied up legally in a business contract with a partner you don’t want to work with.
This discussion is closed.