Updated: Mar 7, 2018
I often hear my clients vent about not having enough time to build their businesses because they spend too much time managing it. This is a common issue; research shows that more than 45% of business owner tasks are NOT related to growing their company.
Growing business doesn’t happen overnight.
Time is the most critical aspect of an entrepreneur’s success. If you really want your business to grow, endurance, nurturing and patience is required. You will put a lot of time, energy and hard work into your business and maybe, you won’t have anything to show for it--for a long time.
There are thousands of affordable technologies which hugely impact business and allows you, the business owner, the time to focus more on aspects of growth. An entrepreneur cannot be afraid of technology because it has impacted every industry in some way, especially building partnerships. It doesn’t matter how tech savvy you are, success cannot be achieved in a silo.
“There’s gotta be an easier way, right?”
I hear this ALOT. There is no one or easy way to build a business. Even if you become an overnight success there is work in sustainability. Building partnerships is key. The 'soloprenuer' or small business owner may not envision partnering with a more established company. But it takes time to research and cultivate a relationship to find out how your business or product “fits” into your partner’s goal. There are many benefits for the smaller of the two partners--The one I encourage clients to look for the most is -- shrinking the learning curve. Here are some tips:
Take a look at your business plan. How much time and money will you need to break into a larger market? It might take years. Having a strategic partnership will narrow not only your learning curve but also your wealth building curve.
See if your product can offer the “icing on the cake” for a larger company. The return on investment will increase because you can offer your clients a better if not complete solution.
Think about how you can expand your market share by accessing the established partner's sales channels.
New brands come and go. Scams and dubious marketing tactics have people paying attention to what is real and fake.Your credibility will increase if your partner has an established brand...your phone calls will be returned.
As an entrepreneur, I try to do the things I enjoy and have fun doing it. I partner with many like-minded and talented change-makers to achieve the rest. If your business excites you when you wake in the morning, and thinking of new ideas to grow your business gets you motivated---unchain yourself from your desk, because that's what will help you grow your business.