How to Find a Business Partner Online in the Philippines:
It is a great idea to form partnerships with other businesses. However, finding the right business partner who will stand by you side-by-side and through ups and downs, isn’t a walk in the park.
From personal experience, knowing how to find a business partner online in the Philippines is essential because your partner can either make or break your venture. This is deemed very important that some even started an online community wherein people can search for business partners online. However, just like anything else, this involves a lot of risks.
We scoured the web, did our research, and compiled essential information from my personal experience to help you answer the big question: how to find a business partner in the Philippines?
How To Find A Business Partner Online In The Philippines
Here’s a recommended step-by-step guide on how to find a business partner online::
Identify Your Ideal Business Partner
The first step to knowing how to find a business partner in the Philippines is to figure out what exactly you are looking for in a business partner. Look for a partner whose interest is in line with the business you want to establish. It would also help to anticipate your business needs.
For instance, if your role is to manage the business as a whole, then you would need someone who would operate the business on the ground. You would need someone who can monitor your operations closely, while you focus on things that could help your business grow like looking for more suppliers or searching for the best courier that would suit your business needs.
With this being said, seek a business partner who complements your talents and skills. It would be best if you will jot down the exact skills you are looking for in a business partner. Do they have to be tech-savvy? Should they have knowledge in creating a website? Or do you need someone who can write great copies and product descriptions? Write it all down.
Improve Your Online Presence
Just because you chose someone to be your business partner doesn’t mean they feel the same about you. This is why you must update your online presence. Improve your LinkedIn profile, create a professional Facebook and Twitter page.
Make sure that your presence is discoverable and that the results this search would yield are appropriate and up to date. To see what others would see when they type in your name on the search bar, you can try searching for your name on Google and scrutinize what would appear.
If, after doing this, you are not satisfied with the results, then you can opt to create a professional website and post informational, factual, and relevant content under your name. This is one of the main areas you should focus on before figuring out exactly how to find a business partner in the Philippines.
Don’t Be Afraid To Ask For Help
There are some things you just can’t do on your own, and if you truly want to know how to find a business partner in the Philippines, then you shouldn’t be afraid to ask this question to your fellow entrepreneurs.
Whether it’s on LinkedIn, Facebook, Instagram, or your e-mail network, ask fellow business people how they were able to find a business partner, jot down their answers, and evaluate which one is most applicable to you. Aside from that, you can also easily ask your acquaintances for a referral.
Join Business Communities
Aside from utilizing your already existing business network, joining business groups and communities online would definitely be of huge help if you want to know how to find a business partner in the Philippines. These online groups and communities are designed to help entrepreneurs like you extend your network, and even better, help you find a business partner online.
Later on, we’ll give you a list of the Best Websites For Finding A Business Partner in the Philippines.
Review Potential Candidates
The next step in knowing how to find a business partner online in the Philippines is reviewing potential candidates. Find out as much information as you can about them. Ask for their curriculum vitae (resume), search for them online, and check their previous works or portfolio. This way, you will know if they are the perfect fit for your business needs or not.
Set Up An Interview
After finding a potential business partner, the next step is to set up an interview. This can be done via Skype, Google Meets, or Zoom. Set up a time you can mutually agree upon and prepare the questions you want to ask beforehand. Make sure these questions are aligned with your business goals and find out their skills, their area of expertise, and if they can effectively deliver their end of the bargain.
Draft An Agreement
Last but not least, don’t forget to draft a partnership agreement. Make sure that this outlines the structure of your business and includes the arrangement made between the two of you. This should include important details like business goals, the salary and compensation of partners, the roles and responsibilities both of you will carry, the breakdown of equity, how disputes between the two of you would be settled, and some exit strategies when the time comes and your assets must be liquidated.
To ensure that your partnership agreement will be legally binding, you can work with the help of a contract attorney.
Best Websites For Finding A Business Partner in the Philippines
If you want to figure out how to find a business partner in the Philippines, the next step you must do is check legitimate websites that can help ease your searching process:
AngelList
AngelList is actually a job search site, but some entrepreneurs use this platform to post available positions like co-founders and business partners. If you are from the tech industry, then this is one site you should definitely check out!
CoFoundersLab
You can create a free or premium account in CoFoundersLab and based on the profile that you have created, the AI algorithm will suggest the best matches for you – from partners, co-founders, and even up to team members!
FoundersNation
This site is quite interesting because it is set up just like a classic dating site. In FoundersNation, you can create a free profile and browse some of the co-founders in your area who have the specific skills you are looking for.
Believe it or not, there are lots of business founders who gained success simply by using subreddits that are dedicated to finding co-founders and business partners. Some of these include the /r/cofounder subreddit and /r/entrepreneur subreddit.
As expected, LinkedIn is one of the professional sites where you not only showcase your achievements and your resume. It is also specifically designed for business networking. It may take some time and effort before you can find a business partner or co-founder here, but we assure you that the wait is definitely worth it!
Benefits Of A Filipino Business Partner In The Philippines
Now that you know how to find a business partner in the Philippines, it’s time to dig in on the advantages of having one. Here are some of them:
- It is easier to reach the financial goals of the business
- Connections of each partner can help in marketing the business
- You can share the profits and burden of the business
- You can gain wider access to knowledge, skills, and experience
- You can come up with better decisions
- You can have a higher starting capital
- There will always be checks and balance
As the old adage goes, “two heads are better than one” and this rings true for business partnerships as well.
- Related Post: Best Business To Start With No Money in the Philippines
Tips In Finding A Business Partner Online In The Philippines
Here are a couple of tips to help you figure out how to find a business partner in the Philippines:
- Go for someone you can trust
- Find someone who you will get along with
- Find someone who shares the same values and principles as you
- Go for someone who would complement your traits and skill set
- Find someone who you can engage with in a proactive conflict management
- Go for a teammate who shares the same vision with you
These are only some of the strategies, tips, and tricks you can use to help you figure out how to find a business partner in the Philippines. At the end of the day, the decision lies solely with you, so make sure to decide carefully, and in making your decisions, do it with 100% certainty.
Finding a business partner is like searching for a partner in life – you must pay attention to their character, values, principles. Since this is your business we are talking about, don’t forget to consider their skill set and evaluate if all of these are aligned with your business needs.
How to Find a Business Partner Online in the Philippines