Is the
entrepreneurs’ journey really a solo trip to riches based on their own
brilliance? Or is it still pretty
“lonely at the Top?” Let’s face it, many
a small business owner feels the whole weight of their future is on their
shoulders. They think the whole reason
their business is successful is on them…and they are probably right if they
have not built a team.
But how to build
a team when the business is small and finances are tight? Reinvesting for growth is one way and I
recommend that all businesses reinvest in their people, in training and in
systems. Another way to grow, and be
bigger and less lonely than a “solo- preneur,”
is to partner with others for
mutual benefit. I love Strategic Alliances and limited join ventures for growth oriented businesses. Mary Ohara Devereaux tells us to “learn
to drink at dangerous waters” during chaotic economic times. Our competitor could be our partner
tomorrow and competition can come from all over the world so we better find
others who share some of our values, our vision and a reason to partner with us
for mutual benefit.
It does not have
to be expensive to add to your credentials. You can bring on millions of dollars’ worth of talent with the right
Strategic Alliances. With creative
licensing arrangements you can also “borrow” others halo with branded
merchandise, white labeled products and services too.
As founder and entrepreneur,
you are probably the whole reason for your business existence. And if you are
over a few million dollars in gross revenues now, you are most likely the reason
for your small business staying small or being stuck in a rut now too. YOU,
the owner are THE GOOD NEWS but you can also be your own bad news too if you
don’t keep on growing. It’s time for you
to reach out and connect with some “business partners” to expand your
team. Too many small enterprises run without the
benefit of outside advisors. Now I
don’t expect you to all run out and get an advisory board or even a coach,
although it might be a great idea for you to do both. Give some thought to adding some
strategic alliances this quarter to help you provide added expertise to your
team and deeper resources for your customers too.
Over the years
and again this year, I have added some great experts as part of the team at
DeDominic & Associates. I brought
on people with shared values yet difference skills and varied points of
view. Adding strategic partners can help
you reach out and connect with advisors and others outside the business who can
give you another set of eyes and ears.
Strategic Alliances can also help you expand your service offerings
without adding overhead. We at
DeDominic & Associates have just added special advisors and experts in the
Marketing and Social media, sales training, a business plan system and
financial services arenas. We did this
by finding other business owners who share our values and who also love helping
small business owners grow.
Try it…. You can only grow as a result of every new
business “adventure” you engage in. I
would love to hear your success stories. Please write to coach@dedominic.com and let us hear from you about your own
Strategic Alliances and joint ventures.
No comments:
Post a Comment