How to choose a partner to set up your project? by Minimalism Brand.
Today we are going to solve a question that we are asked in almost every talk we go to.
How do I choose my partner?
Do I set up my business alone?
How can I trust someone to develop my idea?
Obviously this is a post that we will write with 4 hands, those who write to you now do so from a café in Kathmandu and those who will review it will do so somewhere in Madrid. That's where it all starts. We both believe that it is possible to set up businesses and maintain the freedom that has cost us so much / is costing us so much to achieve.
Let's go by parts:
Set up your business alone or with someone : This answer is "simple". We have both put together things solo and accompanied. It is always better to ride it with someone (later we will see what things you need to know), but if you can't, you can also do it alone. Developing your idea with someone means that it is supervised by at least 4 eyes with what this entails. A different vision of the business, a different way of life, different hours... When you set up a project with someone, you share mistakes, successes, concerns, problems, benefits ... when one needs to rest, the other takes the reins and when one loses the vision is based on the vision of the other so that the ship follows the correct path.
Okay. Best accompanied. But, what should I have in mind to look for that better half?
1- Both must have similar objectives for the business:
This is simple, if one sets up a business to buy a mansion or a luxury car and the other wants to set it up as a means of working remotely from anywhere in the world, these are two very different objectives. It's impossible for it to go well.
Therefore, when looking for a dance partner, as in any relationship, be clear about your objectives. We don't talk about the future of the company or what will happen in a few years, you will never know that, we talk about what each one wants.
We are clear about it, this is a game, an apprenticeship that, perhaps, will become a powerful brand in a few years, but we both know what we want. It is closely related to our slogan: "Minimal life, free future" , you can read it here , we are talking about mortgages, luxury cars and travel 😉
2- Travel with that person.
We are not referring to simple all-inclusive trips. We are more of a backpack and "kick". Everything happens on these trips. Tiredness, hunger, sleep, different goals, different rhythms, different needs... When you travel, all these things come to the fore. There you will know all the faces that a person can have and how to act in both directions. For us it is a perfect filter.
There are several ways to set up businesses, you can go in sixth gear the whole trip and go out on a curve or go in third gear and measure each step you take. We are to go in sixth or seventh, we are more to ask for forgiveness than permission and that leads to mistakes. If the person you set up the business with is risk-averse and you like adrenaline, you'd better think about it.
Speaking of risks, remember that you can see our daily billing in this POST
We are somewhat hyperactive, ambitious, hard-working and we see everything as a game. This is reflected in each marketing campaign, content, image... in short, the project is our image, your project will be yours or yours.
4- Commitment and partner agreement:
From the first day and even knowing each other for 5 years we were clear that we had to sign a partner agreement. A business can bring problems when there is no money or when there is a lot , you better know what will happen in both cases. We, still being friends, signed a partners agreement and a 3-year vesting clause . In short, it means that we will "earn" our shares in the company month by month until within 3 years we each have 50% of it. The purpose of this tool is that, if one of the two partners has to leave the company for any reason: bad vibes, loss of interest, change of pace of life, irrefutable offer... the other party can buy their shares for the nominal value thereof. If you are going to set up a business and this sounds Chinese to you, hire an advisor, if you want we can send you ours 😉
5- There are no masks or suits. We are who we are.
For me this feature is vital. We know, I'm sure you too, many people who at work are one person, with their partner is another, playing sports is another, and partying is another...that's not worth it to us. We are what we are at work, in personal life, on a trip, giving a talk or drinking beers (this is also important, have a party from time to time with the team, you will get to know another part of the person). Masks, suits or ties that cover who we are are not worth it. If you are going to set up something with someone, you know what is behind that person in all or almost all (we all have secrets) aspects of their life, you may be surprised.
Setting up a business is hard, something necessary and fun for us , but we know little about the future. Maybe we'll go public, end up bankrupt, or one day we'll stop having fun...
If you are going to launch a business, do something that you are passionate about and do it with someone you can live with, you are going to work a lot, at least go well accompanied.
If you have questions you can contact us at firstname.lastname@example.org, we will respond in less than 24 hours.