Friday, 3 April 2015

Lethal Mistakes In Business Partnerships

The responsibility of running a business can sometimes be difficult for even the most experienced professionals. Taking on a partner can lighten the workload, lessen your financial burdens and improve the overall quality of your products, services and reputation. Finding a business partner may seem hard, but finding your rhythm with your business partner is much harder. If you're thinking about a partnership, consider the following list and avoid the potential pitfalls, brought to you by BizBoon-the best company for B2B consultancy services.

Sharing capital
Whenever you share your own capital, be it money, resources, information or property you automatically give away your enterprise ability. This is not the right approach; instead of sharing the capital one must work out an arrangement where expenses are shared in an associative arrangement. It also makes it easier to walk away if things go wrong.
Failing to have essential documents and agreements in place
Having basic partnership or incorporation papers that outline each party's roles and obligations, as well as other agreements more specific to the type of business, is key to preventing problems down the road. This is an essential factor for all forms of partnerships whether it is local partnership or international business partnerships.

Not having serious discussions about the future of their company
Without serious discussions about the future of the business, partners may find themselves at odds with each other as challenges and opportunities present themselves down the road. Ultimately, this can gridlock a business if partners cannot agree on a plan of action to take the company forward.

Not having an exit strategy
In any partnership agreement, define the terms of an exit strategy that allows you or your partner to walk away from the partnership. This can be done very clearly and simply and without imploding the operations of a successful business.

Things won’t be perfect when you are starting out, but if you give it some time and work through the things mentioned above, you can easily have a business partnership that works towards the betterment of your business organization. For more such articles on business partnership or valuable tips on offshore company formation, visit BizBoon-the leading business networking site at-

How To Run A Successful Business In China?

As an emerging market, China offers endless business opportunities for foreign entrepreneurs who want to discover new business opportunities to grow and sustain their businesses but Chinese business culture is unlike it is anywhere else in the world and to thrive in this market, foreign companies need to have an understanding of running business in China. If you are planning to run a business in China, here are some things to keep in mind, brought to you by BizBoon-one of the best small business networking sites.

Have a full time administrative team to handle paper work
Many procedures that would be handled electronically in other countries require reams of paperwork which need to be filled in and stamped by hand. The time required to complete these efforts can be unexpectedly lengthy. To be successful in China, your company will need a full-time administrative team in place which can handle all of your company’s paperwork in China.
Develop insight into China’s business culture
Operating in a country with a history of thousands of years and ways of doing business that go back as far it is valuable to develop insight into China's business culture and social etiquette to avoid misunderstandings that could scuttle deals and harm working relationships, suggest the experts at BizBoon-the best way to connect and discover China’s B2B marketplace.

Evaluate risks and market effectively
If you have decided to design a new, simpler, and more direct way to get your products to the market, you should anticipate and evaluate economically all the possible risks. You must also have in place a strong strategy for B2B marketing in China.

Lay emphasis on building relationships
For your company to succeed in China it is important to spend time cultivating relationships with counterpart businesses, government agencies, and trade organizations.

China B2B Marketplace is where you can find emerging businesses in China. The more you connect with Chinese businesses, the more you will discover new business opportunities. So, what are you waiting for? Log in to today to connect and discover China’s B2B marketplace. There are genuine opportunities for foreign companies seeking to expand in the Chinese market; all you need to do is look into the right place like BizBoon to get them.

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