By Lynesha McElveen
Sometimes we think we can do it all by ourselves. We think we got it all under control. We can handle it, we don’t want help, we may even be used to doing everything ourselves. This can be a huge pitfall for the Small Business Owner. At this stage in the game, it is vital to form collaborations and partnerships and not doing so can make business development seem overwhelming and daunting.
Here are some tips to find and make the most out of your collaborations:
1. Make sure you are explicit with your partner about what you want to do. This is extremely important because many times people partner with someone and they realize the person has an altogether different concept.
2. Establish what is expected in return, i.e. money, your expertise for their business, advertisement, etc. Not having those things decided upfront can ruin business relationships and friendships.
3. Ask for help, but understand if the help is on a volunteer basis, it may also be sporadic. People you gotta remember when asking your friend, who is great with accounting that you are not paying, she is going to do it on her time. You can’t get mad.
4. If using an intern protect yourself legally. Find out the ins and outs of hiring interns the right way. The last thing you want to do is hire an intern and end up with a lawsuit.
5. Attend networking events to increase your network of people. As if you don’t know enough people, attending certain events may allow you to find people who can help you grow your business.
6. Join organizations specifically tailored to your business. This is self-explanatory. If you are in Retail, find retail organizations. If you are in Real Estate join a local chapter of REIA (Real Estate Investors Alliance).
7. Reach out to friends, old and new. Often times we know people right within arms reach that have the skills, expertise, and time to help us. You may need to sit down and think about who you know that may be able to help you in a particular area.
I hope these tips help propel your business to the next level. Remember, you don’t have to do it all on your own. You probably have people around you who love, respect, and admire what you are doing and would be more than happy to help you. The key is to ask and be willing to accept the help they offer, however great or small.
