Business (and all of life) is a challenge without high-quality partnerships.
Let’s face it, we can’t be the best at everything! And even if you were an expert in everything you do, there’s not enough time in the day to execute all that needs to get done – especially if your goal is to maintain a thriving business.
On top of making business enjoyable, funding partnerships and real estate investors provide business owners with arguably one of the most important elements of a growing business: leverage.
Romans 12:6 says, “…God has given us different gifts for doing things well…”.
In other words, we can succeed by trying to do all we can with the gifts we have and then lean on others for everything else. Whether it’s time, expertise, cash flow, skills, resources, contacts, ideas, or motivation, there will always be something that your team lacks.
The good news is that business owners like you can find those missing parts in a partnership with others who can specialize in things like business administration, marketing, rental properties, commercial properties, or various types of land investments.
The key is to be self-aware so that you can identify what your company cannot do well and then, with humility and resourcefulness, find the team or tool that will help you fill the gap.
On top of that, when you partner up with people who are passionate about their work, they become more invested in helping you grow your business than just being paid for their services. This means that they want to see you succeed as much as you want them to succeed.
This principle applies to all partnerships including the ones in real estate investing.
Okay – so, there’s value in partnerships, got it! So how do we find good partners? And once we do, how do we create lasting partnerships? There are many answers to this, but we think that it comes down to simply being a good partner first.
As Bob Buford says in his book, The Go-Giver, “you give, give, give because you love to. It’s not a strategy, it’s a way of life”.
First and foremost, seek to add value to the relationship and the rest will fall into place. Give, add value, be generous, spend the extra time, go above and beyond expectations! We think this is not only a solid business practice, but it’s also the right thing to do.
Will some potential partnerships be unfruitful? Sure.
Will some partnerships come to you at the wrong time? Of course!
But even when things don’t work out, it’s still rewarding. And when things do work out, you get to make business enjoyable and you get to enjoy success together – both of which would only be made possible only through the time you put into building quality partnerships.
In brief, we believe that partnering up with other businesses is a great idea as long as both parties understand their roles and responsibilities. If they agree to these terms, then the rewards will far outweigh most risks involved.
And remember, no matter what happens, you should never forget why you partnered up in the first place. You probably did it because you wanted to grow your business and add value to your clients’ lives. That’s why you should keep working smart and with purpose every single day.