One of most common topics they want to discuss is whether they should look for a partner to help them start and run their business.

I know that it can be quite frightening to imagine quitting your job, investing part of your savings, and handling fifteen different tasks -- all by yourself!

But is a partnership right way for you to start your business?

> The Ups and Downs of A Partnership

There are good reasons to enter into a partnership in business, and some that can lead to disaster.

- Good Reasons

* Partnering with someone who can provide business-specific skills, contacts and relationships you feel your business needs, but which you do not personally possess.

E.G. A person who comes to your business with a highly useful Rolodex because of 20-years of selling experience in your intended industry.

* Partnering with someone who can help administer key areas of activity to permit you to focus more effectively on your area of greatest strength.

E.G. An individual who is good with numbers, while you love to work with people in sales process.

* Someone who is truly committed to sharing highs and lows of business and who will stand by you come thick or thin.

- Bad Reasons

* You need more money than you either can raise yourself, or feel comfortable putting up all by yourself.

You don't need a legal partner if all you need is money. It is preferrable to take out a home equity loan or find a private investor.

* You don't want to do all work yourself.

If you feel you need additional labor, consider using an outside contractor, office temporary, a part-time high school kid or a relative. Do not give up ownership in your business just for another strong back.

* You are social friends and you think it would be fun to run a business with them.

A partnership gone bad can end a long-standing friendship very quickly. This can particularly be true of partnering with a relative.

> Till Death Do Us Part

1. Create a time management system that suits your lifestyle, preferences, and values.

Throw away all expensive time management systems that do not work for you. We all have preferences about how, when, and where to complete certain tasks and activities. By honoring those preferences, it will be much easier to accomplish more in less time.

2. Establish visiting hours.

By establishing and announcing visiting hours (one hour per day,) you can reduce unnecessary interruptions while offering people opportunity to communicate with you in a relaxed setting.

3. Create a brain dump.

Creative people need space and a place for recording sudden inspirations, ideas, and thoughts that are often distracting during task mode. Keep a notebook, tape recorder, or file on hand to record both complex and simple ideas. Be creative by recording music, sketching and drawing, or journaling through storytelling.

4. Assign a dollar value to total time wasted in one day.

How much time do you spend per day: Locating papers? Looking for misplaced items? Duplicating efforts? Being annoyed because you can't find things? Dealing with interruptions that are unnecessary? Total this time, set a dollar amount per hour, and estimate what your time is worth. Cut wasted time in half, and pay yourself a weekly salary based on time you saved. Reward yourself with something meaningful with money earned.

5. Adopt a worst in, first out policy or delegate undesirable tasks to someone else.