Don't be the bottle neck in your business! At some point you have to delegate and create a team that can be autonomous.  Don't create a culture of dependence on you, the business owner.  You will stifle growth and limit opportunities.

Some questions that Sean asks when presented with an opportunity to invest in a new venture.  Always watch for warning signs, red flags and make sure you can stomach the losses that do happen.

It may not always be a great idea to buy a franchise but it can help to model your business after one. You can learn from the success of franchises. Following the model gives a plan. Stay in your lane, proficient with one product or service.  Build systems to improve efficiency and create redundancy. Sean shares several tips to succeeding as a business by modeling franchises.

The entrepreneur needs to embrace a culture that tolerates failure.  Expensive failures hurt but failure pays exponentially when you learn from it.  "There's no secret to success. It's the result of preparation, hard work and learning from failure." - Gen. Colin Powell.  It's only really failure if you quit. Entrepreneurship is the greatest occupation in the world.

In part 2 on this topic of what to look for in a business partner, Sean share the rest of what he looks for in a partnership: Shared vision, work ethic, are they distraction free, do you have shared values, how are they at conflict resolution skills.

What is going to motivate you and keep you excited about your business when things are difficult. "The primary purpose of having your own business is so that it can become the catalyst to affording you a life worth living" - Gladys Edmunds, The USA Today.  When you aren't making money what keeps you going? 

So much success as an entrepreneur can be determined by decisions you make in choosing a business partner. These are some of the things that Sean looks for in a partnership: integrity, do they bring value, chemistry, smarts, leadership. Feel free to ask your own questions on Twitter @seancastrina

As an active business owner, Sean loves to share what he is learning every day with aspiring entrepreneurs.  The 5 phases: Start up, survival, growth, stagnation, and transition.

Does your company have a moat around it? If it is going to last the long term you have to have defenses in place.  Some things to be prepared for: new competitors, industry changes, financial downturns  (cash on hand, lines of credit), legal issues, and staff turnover.

The biggest problem with small business is lack of talent.  Training is incredibly valuable. The business owner must take the time and think long term when it comes to training.  Look to hire people with capacity to help build redundancy.  Do you have a manual?