Partnering in business

Whether you’re a first time entrepreneur or you’ve built several businesses, it can be quite a challenge to bring a business idea from conception to implementation. Successful entrepreneurs will tell you that they succeeded because they took risks, thought outside the box, and knew when to ask for help.

You can’t do everything yourself and in most matters of business, two (or three or four!) heads are better than one.

As you grow your business it can be that you become a jack of all trades, but a master of none – as the saying goes.

During this growth period, it usually becomes easier to identify your goals and it is at this point that it can be beneficial to reach out to some specialist partners in your field.

It is however fundamental to keep focused on the where you want to be. Do not be deterred by those who say: “It can’t be done” – you just need to find the right partner. If you are in manufacturing, you may need to begin the project alone and afterwards others will realise that you are onto something. This might stimulate others to produce items at a much cheaper cost. Do not be afraid of this. Passing a piece of your production or service to another company – one that has the structure in place and provides the same product or service at a better price – will benefit both you and your customers.

As a business owner, you will have ‘your client’s best interests’ constantly at top of mind. Cost and quality will remain essential factors when people decide what products to buy or vendors to use. By partnering with other entrepreneurs you can find a way to lower costs or provide time-saving solutions. As we all know, when your clients have a great experience, they will continue to do business with you and spread the word about your business … happy customers lead to growth.

Abstract taken from an interview with Lisa Falzone, Co-Founder & CEO Revel Systems

Do you enjoy the benefits of Partnering in business ?