Michael Newman’s latest ‘e-Wealth Daily’ article is titled “A Partnership for Success”. [‘e-Wealth Daily’ Article]


Michael Newman’s latest ‘e-Wealth Daily’ article:

A Partnership for Success

If you’ve been operating your own business for a while, there are certainly some things you must love. For starters, you don’t have to worry about a boss breathing down your neck and monitoring your every move as you sit there, trapped inside your cubicle. Another benefit is that you make the rules and all the big decisions. If you say something, it happens. End of story.

Of course, things aren’t all they’re cracked up to be when you’re working for yourself, either. The paychecks may not be frequent and the work may require more time than you’ll ever have. However, the most frustrating parts of owning your own business are these two factors: not knowing how to take your operation to the next level; and not knowing how to compete with the other guys.

These are two issues that have kept many an entrepreneur awake at night, wrestling with the frustration of their next move to take the business further. One option that is commonly overlooked is forming a partnership with an existing business or individual.

Now calm down. Collect yourself. It’s not as bad as it sounds. In fact, it may be better than you’d ever think it could be. Remember, you won’t be working for someone; you’ll be working with them.

How could you possibly make more money working with someone else than you could on your own? Easy.

For starters, let’s say you run your business out of a rented location. By opening up with someone else, whether in their location or yours, you have the potential to cut your overhead costs by more than half — that equals more money in your pocket before you’ve even made your first sale. After all, a goal of any business owner is to keep operating costs as low as possible.

Along with the lower operating costs, you’ll no longer be in competition with each other (if your new partner is a fellow business owner in the same industry). This means you’ll either be able to corner the market (in a sense) or put up a bigger and better fight against your leading competition. So, instead of losing customers to another business, they will become your customers. Not only will you have doubled your customers (at least), but with the extra money you’re saving with lower overhead and increased sales, you’ll be able to put more money into your marketing efforts to expand your customer base even further.

Tomorrow, I’ll continue with benefits that a partnership can bring to your business.

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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