STRATEGY
GROWTH
Ready to Not Go Solo?
WHAT TO CONSIDER AS YOU GROW YOUR BUSINESS
by Brian Snider
s your business grows, you talk business with the right person,
their business with them, a good number 2. This doesn’t have to be a partner in the business. This could just be an employee or multiple support team members. AREYOUALIGNED ENOUGH TO BE BUSINESS PARTNERS? Most of the time when a partner- ship fails, it is because the partners are not aligned in their core values or their purpose for the business. Successful businesses need to have a purpose behind them, and if two partners are not aligned with their purpose the business will pull in two many directions. It is critical for the health of the business for any people in a partnership to have similar core values in order for the business to be aligned with its purpose. As an example, one partner with a core value of giving to charity and another partner with a core value of making the most money possible, may struggle with making business decisions. This may seem like a far- fetched example, but I have seen businesses dissolve more than I’d like to say because of this exact example.
A
or opportunities present themselves, every business owner contemplates bringing on a partner to take them to the next level. There are so many advantages to partnerships that can be formed in the business and real estate world, but before you create that LLC together, there are some things you should consider. As many success stories as there are about teaming up with the right people to scale your business, there are just as many business failures, relationships ruined, and money lost because business partners did not consider multiple steps along the way before joining together. This article is in no way an attempt to discourage partnerships, but just a call to consider, think, and discuss on your own and with each other to achieve what you want to do. DOYOUNEEDAPARTNER? Many times entrepreneurs think that the best way to scale their busi- ness is to partner up with another entrepreneur. Twice the business leaders, means twice the business, right? In most cases, no. Usually it is not really a partner that a business owner needs, usu- ally it is just someone to help run
AREYOUR GOALS NOWTHE SAMEAS THE FUTURE? Partners in business can out- grow one another. Before teaming
34 | think realty magazine :: january – february 2022
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