When women develop business strategies, we’re as shrewd as any man when it comes to budget, marketing and store location. Then why do we slack off when choosing a business partner?

Choosing the right business partner is crucial. But because women are so social and so connected to each other, the best- buddy-as-business-partner model seems sound. “My Mom & I had this great idea and so we started a business…,” “My sister and I love to bake so we opened a dessert shop…,” “My friend and I both love shoes …” I’m not saying this spells disaster, but above all your choice of business partner must be intentional and strategic, not based on friendship. Here are some tips to keep in mind when choosing a business partner:

Work Ethic
I can’t stress this enough. This is an area where you two must be evenly matched. It doesn’t matter if you can appreciate that your partner is more productive at night but leaves you in the lurch all morning. Trust me, you will end up resenting each other.

Values
Again, we’re not looking for diversity here. It is crucial that you understand each others’ values. This isn’t just a feel good point – you are legally responsible for the decisions your partner makes. Do you want to make less money in exchange for more time with family? What is your position on philanthropy and social responsibility? Do you two agree?

Strengths and Talents
Yes being of like mind is crucial, but if you surround yourself with people that are practically identical, you are not creating a full skill set. Finding someone who brings different strengths to the partnership is a great way to multiply your intellectual assets.

Trust
It will do you no good to yoke yourself to someone with impressive strengths if you can’t trust her. Maybe she’s your oldest pal but if you wouldn’t give her a key to your house, your bank account number or even let her watch your dog she’s probably not a good choice.

Respect
You might think this goes without saying but it is very important. Do you admire this person? Do you look up to her? Do you approve of her spouse/mate? Are you proud of her? If she made a decision that you didn’t agree with, do you respect her enough to work it out?

Compassion
Your ability to be compassionate with your business partner will have a direct impact on the success of your business. You’re both going to make mistakes and knowing that you are free to take risks without getting yelled will create the positive energy your business needs.