Michael Newman’s latest ‘e-Wealth Daily’ article is titled “Business Partnerships Benefit from Individual Talents”. [‘Business Partnerships’ Article]


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

Business Partnerships Benefit from Individual Talents

There is no person or business that is perfect, and that’s a fact. Some people are better at selling, some people are better at building. Some businesses have great marketing, others have a great product. No matter who you are or what business you are in, everything involving human beings has its strengths and its weaknesses. When you form a partnership, it builds your businesses productivity, because it allows all the parties involved to focus on their strengths.

Here’s an example of what I mean. Jeff and Scott both own their own custom-fit golf club company. They are the industry leaders in their area, accounting for more than 60% of the market share in their area. Jeff, however, is the superior builder, whereas Scott is the superior salesman. Scott can get someone in a room and sell them anything he can think of, and it comes naturally. Furthermore, because he’s always selling, he’s got less and less time to effectively build all clubs that have been ordered.

Jeff, on the other hand, is the best club builder around. It’s his sales, however, that need the work. You see, Jeff may not be the smoothest salesman; he’ll just give you the facts. He’ll tell you what you need, how it will help and how he can do it. He’ll take you from A to B in the most direct way, not the scenic route. It’s the sales, however, that take time from Jeff to build his best clubs.

Becoming partners would help both of these men enjoy further satisfaction in their lives and their wallets. Scott would be able to stick to the selling and Jeff would be able to build the best clubs without distraction. Not to mention their new company would now control 60% of the market, with huge growth potential.

For the most part, the partnership delegates tasks and specializes in the work to make the business run much more efficiently.

Along with being specialists in their field, most business owners are also students of it. Meaning, they are constantly looking for ways to improve their business and do things differently or more efficiently. Having a business partner provides an open road to such information.

Being able to bounce ideas off another professional about how to do things may open a whole new set of possibilities neither party may have thought of before. This is an intangible that you won’t have when you’re making all the decisions yourself. Acquiring insight from someone with an understanding of your industry has the potential to produce all kinds of positive outcomes.

Entering a partnership does not in any way defeat the purpose of entrepreneurship. In fact, it has the ability to expand your bottom line, maximize your skill set and open you up to ideas on how to improve your operation.

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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