Startup founders know the value of a co-founder. Crime-fighters work better in duos. Even gun-slinging cowboys know that a good partner is worth having. Forming a business partnership is a great option for consultants of all kinds, but is one that’s rarely considered.
A couple of years ago I stopped freelancing alone and partnered up with a friend who did similar work. Each of us transitioned all of our freelance clients (and all of that revenue) to the partnership, committed to working equally, and taking an equal wage.
That may sound like a risky move, but here are some of the many benefits we discovered:
- Being accountable keeps you in form
Being your own boss is great most of the time, but when that boss lets you sleep in, procrastinate and make bad decisions the business suffers. Being answerable to a partner keeps you sharp, even when you’re feeling slack.
- Having a partner can cut you some slack
Ever get sick and almost kill yourself to meet a deadline? Ever have a personal or family problem that needed your attention? A partner can pick up the slack when you really do need it.
- Two heads are better than one
Everybody’s skills differ, and nobody is good at everything. A partner’s strengths will overlap with your weaknesses, and vice-versa. This counts for technical skills as well as business nous. You both get to do more of what you’re best at, and this gives your business a noticeable boost in efficiency.
- Your customers will love it
Instantly broadening the expertise and availability your business can provide is a massive edge. Clients recognise this improvement and appreciate it.
- It’s more fun
This will vary from person to person, but I often hated working alone. Working in a team – even a team of two – is more fun.
So consider it – many of the benefits of a much larger business with hardly any of the overheads. If you can find a fellow freelancer you know and trust, partner up, and smoke the competition.
