Sometimes -- either when you start your business, or when the business is well underway -- you may have the opportunity to partner with someone who brings something to your business. In some cases, a partner brings strength in areas that are weaknesses for you -- say, product development or personnel management -- and in other cases, a partner brings something every entrepreneur can always use more of: cash. Whatever the reason, partners can be a good thing or a bad thing for you and your business, and you've got to keep an eye on things to make sure there's more good than bad.

Consider the case of Mike Meek, CEO of Intellitec. His partner turned out to be a con man who racked up large debts for the company. Not only was Meek obligated to pay off the debts, but he was forced to close down the company. Or how about Louette Glabb, whose business partner moved profits from the company's savings account into his personal bank account. Unfortunately, Louette didn't notice the problem until after her partner had moved more than $100,000 from the company coffers into his own account. 

So how can you be sure that a potential partner is right for you and your business? Ask yourself these questions to get an idea:

• Have you taken time to really get to know your prospective partner? Really?
• Would you be willing to trust the life of your business to your partner?
• Do you share the same integrity and ethics?
• Do you share the same goals - for yourselves and for the business?
• Are you in agreement on how to lead and manage the company?
• Do you have a written partnership agreement that spells out what happens if the partnership dissolves?

If the answer to any of these questions is "No," then dig a bit deeper into your prospective partner's background before you decide to pair up. Remember: It's a lot easier to get into a partnership than it is to get out.