August 6, 2014
Actually, there are a lot of things that are a lot like dating. But strategic alliances are one of them. You meet someone . . . and the urge to “partner” with them forms. Whatever the words you use–“joint venturing,” “partnering,” “having an alliance”–you start with the feeling that you alone are not enough. This other person (or company) could bring you someplace you could never go yourself (or couldn’t without a huge effort). Maybe you’re excited about the new target markets you could reach. Or the new products/services you could provide. Your heart goes pitter-pat, and you’re eager to skip down the lane with your new “beloved,” channeling your energies into what you dream you could accomplish together. But you may be ignoring red flags and your company’ other needs. I’ve heard this time and again from entrepreneurs who have gone full-tilt-boogie into new ventures without thinking them through. They say “I do” without taking the time to examine whether the alliance makes solid business and financial sense. That’s like marrying someone right after…
Continue ReadingI had a stress meltdown recently. Not that this should have come as any surprise–after all, I run myself ragged; I spend way too many hours in front of the computer, the phone and other…
Read MoreSo you’ve started a business. And it’s just you. What happens if you get really sick or injured? Or a parent needs care-taking? Or your physical presence in business isn’t possible for several months? That’s…
Read MoreFrom the Benefits-Outweigh-Burdens Department: Rob Smorfitt, a serial entrepreneur, small business blogger, and Ph.D. candidate in South Africa, has looked into (and lived through) many business partnerships. His research indicates that partnerships are a key…
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