About the advantages of partnership

Successive college entrepreneurship competitions or business competitions, usually teamwork, collective win; in Silicon Valley circulated this unwritten "rule": by two MBA and MIT PhD entrepreneurial team, is almost a guarantee of obtaining venture capital. Although this is an exaggeration, it implies the fact that entrepreneurship is no longer a pure pursuit of personal heroism, and the chances of success of team entrepreneurship are much higher than those of individual entrepreneurship.

High success rate of partnership

Case 1: In 1998, Deng Feng and classmate Ke Yan *** with the founding of the Netscreen network security company, six years later, Netscreen became the world's third largest network security equipment company. The company was successfully listed on NASDAQ in XX, and the market capitalization reached $4 billion in XX.

Case 2: In 1996, Deng Jie and two Tsinghua alumni **** with the founding of the ACD company, XX successfully completed the merger and acquisition of the ACD company and UTStarcom, and then served as president of the ACD department of UTStarcom.

Case 3: Zhou Yunfan and Yang Ning, classmates at Stanford in the United States in 1997, returned to China in 1999 **** with the founding of ChinaRen website; XX founded the air network, is committed to the development of MMS, WAP, JAVA, and other 2.5G value-added mobile services; July XX air network in the United States in the United States Nasdaq listing success.

Facts show that a complementary entrepreneurial team composed of R&D, technology, marketing, and financing is a necessary condition for entrepreneurial success. A survey also shows that 70% of the companies that have succeeded in entrepreneurship are part of a partnership.

Partnership advantages

Wuhan Founder International Software Systems Co., Ltd. is a very tacit understanding of the entrepreneurial team, the general manager Hu Kui and the other two entrepreneurs are returnees. Hu Kui believes that the team has a higher success rate in entrepreneurship than in solo entrepreneurship.

Resources **** enjoy: no matter how good entrepreneurs in a certain industry, he can not have all the business management experience, and with the help of the team can have all the business needs. For example, customer experience, product experience, entrepreneurial experience, etc. And the network of people can help the entrepreneur more.

Risk*** sharing: Unity is strength. Many times, entrepreneurs encounter a lot of trouble in the process of starting a business, which may cost a lot of energy and money if they solve it completely by hand. And the team is one, success or failure is the whole rather than an individual, members can be the same **** suffering, business results can be open and reasonable to share, the team will form a strong cohesion and sense of unity.

Group Think: Since the cornerstone of a partnership lies in the entrepreneurial vision and **** the same beliefs, the team can come up with a set of cohesive vision and business philosophy to form **** the same goals, language, and culture as the basis for mutual trust and benefit sharing. In the decision-making can be a group effort, these are exactly the solid foundation for the survival and development of the enterprise.

In summary, because no one has all the skills, experience, relationships, or reputation needed to start and run a business, it is conceptually necessary to form a core team if the business is to succeed. Team members will play different roles for the entrepreneur: they are either partners or key employees. They are indispensable, and with them, they can solve `some of the problems that may arise during the entrepreneurial process.

Partnership to master the three principles

In fact, the entrepreneurial choice of partnership or go it alone is not absolute, both have their own advantages and disadvantages, the key is to pay attention to the strengths and avoid the shortcomings. Here's a reminder to readers to understand and master the three principles:

Friends ≠ partners

China's real estate "predator" Pan Shiyi was once sued by three minority shareholders, who believed that Pan Shiyi cleaned their shares by transferring them as a whole and demanded 100 million yuan from him.

Reminder: This example shows that close friends are not the same as ideal partners. All entrepreneurs get together initially to make a career, no one is running to break up the partnership, but it's hard to avoid it. In China, relevant surveys show that after 3 years of cooperative entrepreneurship, less than 5% of the entrepreneurial team can still be retained intact. Therefore, the entrepreneurs in the choice of partners, the ideal partner not only required to know the roots, mutual trust, and requires both parties in the ability to characterize a good complementary.

The first small man after the gentleman

Zhang funded 150,000 yuan with a friend to open a restaurant, and let his friends responsible for account management, they are responsible for the operation of the affairs. Out of the trust of friends, he did not ask to sign any cooperation agreement, only that the profit is divided into four or six. Two years down, the restaurant business is booming, but they always get a small share. This is the reason why the two sides got very stiff, and eventually went their separate ways.

Reminder: Although trust is the basis of cooperation, but the partnership is still to sign a cooperation agreement as a good, the two sides should be responsible for the duties and should enjoy the rights and interests of the careful agreement down, never verbal. Experts suggest that, if you want to start a business, then the partners in the business of the responsibility and rights must be clear in advance, and put into writing, the formation of legally binding documents, which is a fair and effective way.

The most important thing to do is to be able to "keep your brother in the clear". Xiaolin and Xiaoliang partnership opened a restaurant. Xiaolin is very social, often bring friends to the restaurant to dine, and Xiaoliang also think Xiaolin's social to increase the restaurant customers have the benefit of never keep score. After a period of time, Xiaoliang felt that the restaurant is busy every day but did not earn much. After being reminded by others, he realized that there is a large piece of profit by Xiaolin and his friends "eat" away.

Reminder: the partnership must be clear accounts, complete procedures, at any time to withstand the inspection; for all accounts of the in and out of the situation, the operating conditions of the cooperative entity and profit and loss situation to be regularly open between the partners, the partners of the interests of the distribution of the agreement in strict accordance with the provisions of the cooperation for the two sides to do a good job, to avoid unnecessary misunderstandings and trouble.