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Is a Partnership for You?

How well you get along with your partner can mean the difference between success and failure. That is, do you encourage each other? Do you listen to each other's ideas? Do you respect each other? If you are thinking about entering into a partnership, you may want to take the following "Partnership Predictor" first. It may help you determine if a partnership is right for you.

Directions for the "Partnership Predictor"

  • Use the following rating scale to answer all questions
  • Press the Calculate button to total your results
  • Compare your total to the Results chart at the end of the "Predictor"
  • Need assistance? Contact us to learn how an experienced farm business consultant can help.

Partnership Predictor Rating Scale
Firm YES
5
Yes, with conditions
4
Questionable
3
Not likely
2
Firm NO
1


Partnership Predictor
Are you willing to work with an attorney to prepare a formal operating agreement?
Are you able to share management responsibilities with another person, even though you are comfortable making your own decisions? Are you able to allow a partner to learn by trial and error, even if it costs a little more money?
Are you willing to give up some responsibility? Are you open to new ways to work? Can you live with change without getting upset?
Are you willing to discuss personal business or work through disagreements without becoming emotional or angry? Are you able to share all financial decisions with a partner? Are you willing to share the financial success of the business with a partner?
Are you comfortable allowing your partner to invest money or go deeper in debt over a new or risky idea if he or she firmly believes it is good for the company in the long run?
Are you able to allow your partner to have his or her own life and commitment to work, even if you work longer hours or live on the farm property?
Would other people say that you are reasonable and considerate? Are you someone who controls your anger? Are you discreet about what is on your mind?
Are you willing to take critical advice without becoming upset and angry? Do you listen to all sides of an issue? Do you try to stay objective?
Total Score:

Partnership Predictor Results
30-40
You are good partnership material!
25-30
You would have to work very hard at a partnership in order to be successful.
17-24
You're probably not good partner material.
0-16
Forget it. A partnership is not for you.


Contact us at info@firstpioneer.com for more information today!
   
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