Why are partners so important for the success of a small or medium-sized business? Having worked with many different businesses, we realized that farming out certain tasks is important. No one individual can do everything. Small businesses usually choose the niche they are in because they have some expertise, skills, experience and connections to begin. Success is in figuring out how to sustain that business and grow it. In order to grow it, one has to decide what do you want to do? What are you good at? What do you want to farm out?
Choosing a partner is like throwing a football to someone. Will they catch it if you throw it? Can you trust them? If the answer is “No”, you certainly shouldn’t do business with them. In this instance, a partner is not someone who owns the business with you but rather, a separate business who has their own expertise and can work collaboratively with you. We have seen CPAs working with Financial Advisors and business insurance quotes Florida. We have seen Pest Control Experts work with Realtors. These partners are an extension of your own business and the products and services that you offer.
In some cases, you can have a network of partners. Using a basketball team analogy, in order to score, you need different strategies, offense and defense, and you run the plays. You will also need to adapt to how the other team is playing against you. With business, it is the same way. You can have a business plan. You can work well with one or more businesses. In order to be sustainable over time, you need to adapt to the changes going on everyday. Being in tune with what is going on around you helps to keep you going, growing and thriving.