How to Find a Business Partner

I've had business partners for every business I've been a part of. Yet, I've never asked myself "Why?". Yesterday someone did.

You’ve been fairly prolific over the years, and I was wondering what your thoughts were on taking a business partner? I think you’ve had a partner(s) for every initiatve/business? Would you ever do one without or do you typically find it better with one?

This was my answer: risk reduction. I'm a scaredy cat. 

Back in the early days of my first business (2008?), I partnered with Steve Smith instead of going it alone. Great decision. 

We had complimentary product skills (he was form and I was function) and had worked together for a few years at the University of Notre Dame. 

Also, he had a consulting business that was already making money. 

In a couple years (2026), we'll hit two decades of working together. I got lucky. Finding a good partner is incredibly hard. 

To be fair, I've had many other partners in the past that haven't worked out.

I think those that did had this in common:

1. Batteries included. Find someone who is a "do it now" type of person.
2. Complimentary skills. You don't need 2 of you. You need someone who loves doing what you don't. I think some overlap is good. But even in the overlapping areas, it's good to have one person clearly be the expert.
3. Know them well. If you don't know them well, get to know them well before you partner up. You wouldn't marry someone you just met. Partnering in business is no different. You'll spend a ton of time with this person making financial and other decisions. Make sure you date for a while first.
4. Set expectations. Be explicit. Talk them out. Write them down. How much will each of you work? Who is responsible for what? How much will each of you own (equity) and be paid (salary)? The list goes on. You can't be too detailed about this at the beginning. Doesn't have to be a signed document, but you need to be on the same page.
5. Commit. Do everything you can to make it work. Communicate through disagreements. Compromise. And if you must part ways, make it amicable, even if they "win".

Doing each of the 5 things above will reduce the risk of a software business (perhaps any business but I only know software) and increase the success.

This is definitely how I approached getting partners for Fireside. I've been friends with Steve, Garrett and Kris for 15+ years. They all have founder energy. Each brings a different skill to the table. But there is overlap between any two partners.

We talked extensively about what the company will be. Steve will be passive. Kris, Garrett and I will be active. Kris will do marketing. Garrett and I will do development. We'll overlap, but we know what to expect.

If you have a higher risk tolerance, work alone.
If you don't, figure out who checks the boxes above.
If no one does, smash into more people until you find someone who does.