Forums: Discussions for entrepreneurs and small business.

I know another business owner who wants to get into my field of failure analysis. He`s an architect, I`m an engineer. He offers experiences that I don`t have, which I believe can be quite beneficial to me in building my clientel.

Question  #1 - Should I consider using him as an independent contractor, even though I don`t see myself partnering with him or merging my business with his? Deep inside me, I fear that he could "steal" my clients.

I do believe I could use his expertise to get me in the doors of potential clients, BUT this would be risky if he doesn`t perform to mine or my client`s expectations.  

Question #2 - Should I hold out for a business partner or hire independent contractors?

Lily,

In response to both of your questions (from my experience)...

I have friends who I would like to have as business partners but in reality I just don`t see it working. I will, however, still utilize their services as independent contractors.

Bottom line: Your business partners need to fit in with you and your company--they need to share your values, and vision. If you can`t make this connection in the beginning, odds are it will never happen.

I would consider using your friend as an independent contractor rather than a partner. Good luck!

James

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James Skinner Vice President & COO OnlineSiding LLC jskinner@onlinesiding.com www.onlinesiding.com 877-642-2496 x102

Best piece of advice I`ve ever run across was: "Never take on a partner when an employee (or contractor) will do."  Consequently, I`ve filled in the blanks in my business with people who are more than willing to be paid to help.  But, I retain control as the sole owner. 

Partnerships don`t often work out in the end.

~Kim

Thanks James and Kim for your comments.

I`ve lost a lot of my self-confidence going into business for myself. I`ve had to learn a lot about everything, which often scares me. Can I truly learn everything myself? How do I know when I`m wearing horse blinders?

I`ve been contemplating finding a business partner to be my second set of eyes. I haven`t had much luck with my independent contractors. Their time isn`t always flexible and my business isn`t their #1 priority. It`s funny, I take on a new client and I do what I can to impress them. Why doesn`t that work the same for my independent contractors? Aren`t I their client and someone they`d like to keep business relations with?

I`m an engineer. Work was pretty much black and white before I became a business owner. I`m sure I`m missing the right approach somewhere. Can anyone recommend good reading to get me on the right track of hiring reliable and long term independent contractors?