With parts 1-3 now happening with some regularity and relationships being maintained because you’re all doing what you say you will by the agreed time you are, as they say in the classics, sitting pretty. You’ve also now achieved something lucrative on a number of levels…
1. Others want to be part of what you’ve got. People want to be a part of something that’s working. Be very selective about whom you let in. Remember, they didn’t go through the hard yards to make it happen so have less skin in the game. Critically assess the value they will bring and don’t take the first person who comes along with a skillset you lack. Make sure they share the same values and fit into your culture.
2. Bargaining power. Let’s say there are 3 or 4 of you – outsource the jobs you don’t want to do and pay less because of the bargaining power you now have. Your new service provider will be happy about the regular income and you get a great rate. Additional bonus – it will free up your time to make more sales!
3. Multiple streams of income. Your group now has multiple streams of income which means it’s solving lots of problems. That’s great for attracting new business and can be leveraged via marketing. So, tell the world what you’re doing.
4. Trust. Everything mentioned so far was built on trust. It is the single most valuable commodity you own. Nurture it. This whole arrangement will fall apart without it.
In the last 4 weeks we’ve hypothetically gone from being a lonely so-low-preneur to having 2 – 3 buddies who fit nicely into a common culture with a common set of values. You are all still independent business owners yet you have each other’s backs and interests at heart.
How many other business owners that you know would love to have this? So ask yourself, is this worth having? If so…
Go Get It!
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