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What do you look for in a business partner?

Just read this great article on Farnam Street: "Warren Buffett: The three things I look for in a person" (http://www.farnamstreetblog.com/2013/05/warren-buffett-the-three-things-i-look-for-in-a-person)

It's inspiring and can be applied in every relationship-building scenarios in life. Just wanted to share it with everyone and see if anyone wants to share the specific qualities he or she looks for in a potential business partner.

Thanks!
Vicky

6 Replies

Cynthia Schames
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Cynthia Schames Entrepreneur
Founder & CEO, AbbeyPost
Vicky, Thank you for sharing! I loved this. I believe 100% in integrity as the baseline for success, both as a businessperson and as a human being. In startup-world, we often hear things like "they can't stop me so I'm going to...(fill in the blank dishonest thing)", and it's even celebrated in certain circles. I personally see this mindset as damaging and dangerous. There's a big difference between innovating/challenging the status quo and doing things that are just plain dishonest. I see far too many founders & other startuppers rewarded for being on the sketchy side. Air BnB scraping Craigslist for apartment listings in their early days? Totally sketchy and arguably even legal, but it's constantly lauded as "genius" "growth hacking". So, I said all that to say, I agree with Buffett. I look to work with good people, who care, and have unique knowledge & skills. In that order. Thanks again for raising this topic! Have a great Friday-- Best, Cynthia
Helen Adeosun
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Helen Adeosun Entrepreneur
Co-Founder and CEO of CareAcademy.co
Vicky, I loved this piece will remember: Intelligence, energy, and integrity! Nice! Helen
Vicky Heinlein
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Vicky Heinlein Entrepreneur
User Interface Designer

Funny that I came across another great article right after I posted the last one - this one is useful from the hiring standpoint. This is an interview conducted by New York Times with Roman Stanek, CEO of GoodData. There are a lot of great points to learn in his philosophy. In particular, I like the culture of transparency and his recruitment method:

http://www.nytimes.com/2013/05/31/business/roman-stanek-of-good-data-on-being-a-good-manager.html

(Cynthia - Thanks so much for sharing your thoughts. Your feedback added another layer of perspective for thoughts and I agree with you 100%.)

Cynthia Schames
1
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Cynthia Schames Entrepreneur
Founder & CEO, AbbeyPost
It's a very intriguing subject indeed! I actually blogged about it from the train this morning because I was so interested! I called it "Warren Buffett, Startups, and Superheroes". Here if you'd like to read it: http://cynthiaschames.tumblr.com/post/51801818722/warren-buffett-superheroes-startups
Paul Travis
2
0
Paul Travis Entrepreneur
Multifaceted Online Executor: Product Marketing to Program Mgmt. to Business Development
I've long kept this one from Dee Hock (founder of the Visa credit card / banking system).

"Hire and promote

first on the basis of integrity;

second motivation (without integrity, motivation is dangerous);

third capacity (without motivation, capacity is impotent);

fourth understanding (without capacity, understanding is limited);

fifth knowledge (without understanding, knowledge is meaningless);

last and least experience (without knowledge, experience is blind)."

Vicky Heinlein
0
0
Vicky Heinlein Entrepreneur
User Interface Designer
Cynthia - Finally got the chance to read your blog post and thanks so much for sharing!

Paul - Thanks for sharing Hock's wisdom as well. Love it!
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