How to Find the Right Business Partner

"That was the point at which I realized there has got to be a way to connect [entrepreneurial business partners]," Nielsen says. "We kept looking for a way that we could find people we needed on the Internet, but there wasn't anything out there for those who wanted to come together and start a company to find each other."

Thus, the idea for Partnerup.com was born.

After developing the site for a little more than two years, Partnerup.com launched in April. Already more than 10,000 members have signed up for the service and they've been hearing feedback from users who've found partners and found the service useful, Nielsen says.

"About 80% of the people who perform a search on the Web site are able to find one or more matches they are looking for," the 25-year-old entrepreneur says. "I would say we are probably about three or four months away to hitting 100%."

What to Look For

When looking for a business partner, there are a few things entrepreneurs should keep in mind, Nielsen says.

First and foremost, look for complimentary skills and experience, he advises. "From all the people we've talked to and all the research we've done, it seems like the most successful business partnerships are always places where people are bringing distinct experience to the company."

A lot of Partnerup.com users ask why they shouldn't go into business with a friend or family member. However, "more than people who you might like or have worked with before, I think it's really important that people look for somebody that has the skills that the company needs that they themselves can't offer," Nielsen stresses. "Your potential business partner's skills shouldn't [duplicate] your skills."