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Grow Your Business by Spreading the Wealth

As much as we’d like to think that we are superhuman and can do all things ourselves, sometimes we need to take a serious look at our capabilities and ask ourselves if we’d be better off asking for some help.

I’m not talking about the menial tasks that you would normally hire employees for, but the big stuff that you might want to consider bringing on a partner for.

Running a business requires many different skills, and to experience the highest level of success, you want to have people with top level skills at the helm.

Are you a good manager? Do you have the technical skills required to run an internet based business? How are your financial skills? Legal knowledge? The list goes on and on. I’m not saying that you should consider a partner for each required skill set, but if you find that one aspect of your business is holding you back, you should consider looking for a partner to help hold you up.

Indeed, it has often been said that the greatest asset you receive from attending a school of business is not the bachelor’s or master’s degree, but the network of friends and fellow businessmen and women that you create during your attendance. The business world is fraught with college drop outs that partnered with someone they met while attending college.

The main issue that stops people from getting a partner is that they don’t like the idea of sharing profits with anybody else, nor do they want to have anybody around that might tell them “no.”

Personally, looking back at the many businesses I’ve founded and watched plunder into the depths of failure, I realize that the one business that reached what I would call “semi-success” was a computer retail business in which I partnered with a college buddy of mine. The failure part happened when I broke off the partnership because I got tired of him providing ideas for the business that I didn’t like. That’s when I realized that having someone around to tell you “no” isn’t such a bad thing. When both of us agreed on something, that increased the odds of it being the proper choice.

When searching for a partner, you’ll want to be aware of potential partners who’s main interest is in themselves, rather than the growth of your company. When faced with running an internet-based business with so few technical skills, you essentially have two choices:

1. Learn the necessary skills
2. Find a partner that already has the necessary skills

Of course, this applies to any skills you might be lacking, not just the technical aspect.

Remember, there are those who managed to build a business to amazing heights all alone, but there are far more examples of partners becoming millionaires by working together and combining their skill sets.

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