When it comes to finding a partner in business, be careful who you choose. Starting out, it is natural to feel giddy and excited about your new venture, thereby overlooking the nuances, the personality traits, and the difficulties you may face with a partner as the business takes off.
A business partnership is as critical as a marriage when you join forces. Aside from all the legalities you must consider, it is important to recognize both your strengths and your weaknesses. Be clear about how you will handle certain situations as they arise, including the worst case scenario. Your business will want to consider an exit strategy and both partners should be on the same page.
Don't be afraid to ask the tough questions and listen to your gut. If there is something that scares you or raises a red flag, take a closer look and see if this is something you need to consider more closely. The truth and reality of the situation needs to be fully considered and the right course of action taken based on that truth. If you have crossed all your t's and dotted all your i's, then go ahead and proceed. But always with caution.