Questions to Ask Business Partners
Important questions to ask business partners to ensure alignment, understand expectations, and build strong working relationships.
1What are your goals and vision for this partnership?
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What are your goals and vision for this partnership?
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Why this works
Helps you understand their objectives and ensures your goals are aligned, which is crucial for a successful partnership.
2What are your expectations for communication and how often should we meet?
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What are your expectations for communication and how often should we meet?
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Why this works
Establishes clear communication protocols and helps you understand how to stay connected and informed about partnership matters.
3What are your strengths and what do you bring to the partnership?
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What are your strengths and what do you bring to the partnership?
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Why this works
Reveals their capabilities and helps you understand how they can contribute to the partnership's success.
4What are your concerns or potential challenges you see with this partnership?
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What are your concerns or potential challenges you see with this partnership?
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Why this works
Shows their awareness of potential issues and helps you understand what challenges you might face together.
5How do you prefer to make decisions and what's your decision-making process?
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How do you prefer to make decisions and what's your decision-making process?
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Why this works
Helps you understand their approach to decision-making and ensures you can work together effectively on important matters.
6What are your expectations for workload and time commitment?
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What are your expectations for workload and time commitment?
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Why this works
Ensures you understand the time commitment required and helps you plan your schedule accordingly.
7What are your financial expectations and how do you want to handle finances?
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What are your financial expectations and how do you want to handle finances?
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Why this works
Clarifies financial arrangements and helps you understand how money will be handled in the partnership.
8What are your expectations for conflict resolution and how do you handle disagreements?
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What are your expectations for conflict resolution and how do you handle disagreements?
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Why this works
Shows their approach to handling conflicts and helps you understand how you'll work through disagreements.
9What are your expectations for the partnership's growth and development?
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What are your expectations for the partnership's growth and development?
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Why this works
Reveals their vision for the partnership's future and helps you understand their long-term goals.
10What are your expectations for the partnership's culture and values?
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What are your expectations for the partnership's culture and values?
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Why this works
Helps you understand their values and ensures you can work together in a way that aligns with your principles.
11What are your expectations for the partnership's communication with external parties?
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What are your expectations for the partnership's communication with external parties?
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Why this works
Clarifies how you'll handle external communication and ensures you're aligned on messaging and representation.
12What are your expectations for the partnership's decision-making authority?
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What are your expectations for the partnership's decision-making authority?
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Why this works
Helps you understand the decision-making structure and ensures you know who has authority over what matters.
13What are your expectations for the partnership's risk management?
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What are your expectations for the partnership's risk management?
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Why this works
Shows their approach to risk and helps you understand how you'll handle potential risks and challenges.
14What are your expectations for the partnership's performance measurement?
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What are your expectations for the partnership's performance measurement?
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Why this works
Helps you understand how success will be measured and ensures you have clear metrics for evaluating performance.
15What are your expectations for the partnership's innovation and adaptation?
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What are your expectations for the partnership's innovation and adaptation?
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Why this works
Reveals their approach to change and helps you understand how you'll adapt to new opportunities and challenges.
16What are your expectations for the partnership's customer relationships?
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What are your expectations for the partnership's customer relationships?
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Why this works
Shows their approach to customer service and helps you understand how you'll handle customer relationships together.
17What are your expectations for the partnership's technology and tools?
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What are your expectations for the partnership's technology and tools?
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Why this works
Helps you understand their technology preferences and ensures you can work together effectively with the right tools.
18What are your expectations for the partnership's legal and compliance matters?
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What are your expectations for the partnership's legal and compliance matters?
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Why this works
Shows their approach to legal matters and helps you understand how you'll handle compliance and regulatory issues.
19What are your expectations for the partnership's exit strategy?
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What are your expectations for the partnership's exit strategy?
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Why this works
Helps you understand their long-term thinking and ensures you have a plan for how the partnership might end.
20What's the most important thing I should know about working with you?
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What's the most important thing I should know about working with you?
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Why this works
Gives them a chance to share what they think is most important for you to know, providing valuable insights about their working style.
Best Practices for Business Partnership Communication
Expert tips and techniques for getting the most out of these questions.
Best Practices
Establish Clear Expectations
Make sure you understand each other's expectations and have clear agreements about roles, responsibilities, and communication.
Communicate Regularly
Maintain regular communication to stay aligned and address any issues or concerns before they become problems.
Document Everything
Keep records of important decisions, agreements, and communications to avoid misunderstandings and protect both parties.
Question Sequences
The Goals and Vision Sequence
The Communication and Decision-Making Sequence
Common Pitfalls
Don't Make Assumptions
Don't assume you know what your partner expects or wants. Ask questions to ensure you understand their perspective.
Don't Ignore Red Flags
If your partner is evasive about questions, seems unprofessional, or has unrealistic expectations, consider it a warning sign.
Don't Skip the Legal Framework
Make sure you have proper legal agreements in place. Don't rely on verbal agreements for important matters.