---
title: The Best Way to Keep Your New Business from Failing
description: Making sure you'll get along with your business partner is a key to small business success. So ask yourself these questions before you pair up.
authors:
  - name: Antonia Massa
    url: https://money.com/author/antonia-massa/
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published: '2014-08-08T11:00:47.000Z'
modified: '2024-04-02T04:26:50.000Z'
section: Business
tags:
  - business failure
  - business partner
  - business success
  - Careers
  - Small Business
  - Startups
  - Workplace
word_count: 196
canonical: https://money.com/business-partner-compatible-startup-success/
type: Article
source: structured-blocks
---

> **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/).

![Conjoined paperclips](https://img.money.com/2014/08/140808_ff_bizcompatibilityretouch.jpg?crop=0px%2C981px%2C3575px%2C2011px&quality=85)
*Find the right partner if you want your startup to succeed.*

Nearly two-thirds of high-potential startups fail because of conflicts between co-founders, says Harvard Business School professor Noam Wasserman. Make sure you know these things about a prospective partner:

**How does he respond to adversity?**

With a startup, “the highs are high, but the lows are very low,” says Eric Del Balso, founder of Ignite Advisors. Ask the person’s friends, family, and former co-workers how he handles letdowns and curve balls.

**What are her goals for the business?**

Discuss key decisions you’ll make together—like, Will you raise outside money? Pay top dollar for talent or hire temps? “If you can’t resolve those, there is a high likelihood the team won’t be aligned,” says Wasserman.

**How does he handle money?**

An overspender may burn through funds before you find revenue. But a timid spender can hold you back. Pull a credit report on your compatriot. Then discuss “what you each think is worthwhile to spend on and what’s lower priority,” says Wasserman.

*More on starting your own business:*

-   [How to Build a Million Dollar Business](https://money.com/collection-post/reach-a-million-small-business/)
-   [The 4 Essential Traits You Need to Run Your Own Business](https://money.com/successful-business-essential-traits-you-need/)
-   [How to Fire Your Boss and Break Free of the Corporate Grind](https://money.com/how-to-fire-your-boss-and-break-free-of-the-corporate-grind/)

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