Growth: Have You Ever Considered..
 

taking on a partner?

Scenerio

Your company has gotten to the point where you are working on a lot, and investing in new projects. You can do one of the following..

1. Take on some interns, hire employees, or outsource additional work.
2. Take on a business partner who has a proven record of making money through their own sites, etc. Then form a partnership where you invest in a joint media company.

The benefits..
You get to split costs on some expenses. Servers, any extra employees or outsourcing costs. Plus share in the expense and profit of new projects.

The downside..
Few in your area are established, and most are just talk. You have to share profits and listen to another chief.

Thoughts?

More importantly. Has someone gotten to that point and done it? Either through a limited partnership, or full merger for the greater good of the 'vision'.

its tough when i was at those crossroads i decided to just pay people for services and not take on partners

I'm a control freak, I'd do option 1 in a heartbeat.
WG

Done and do both.

Yeah that is what I think sometimes. The whole advantage to being self employed is you are the king.

Yep.

Between all of the mainstream ventures it makes me consider it. If they came in with their own skills and capital, I would consider a network person, and maybe a SEO type person. Some one(s) who pick up the pieces in my weaknesses, and bring some of that shit in house.

For the mundane work, you can bring in interns, or outsource it.

I get the occasional person now who is in college and sends me their resume. They see my ads to snag models and such I guess, and that is how they find out about my company. But the people I get resumes from have no working capital to throw into a caufer nor do they have anything but the raw skills. No application knowledge. So I would have to hold their hand.

While good and bad. When you are a company on the grow, you do not want to be holding hands. You want to keep pushing forward, both guns blazing.

:Oh crap

can't relate to your situation at all, since I am hardly working

but i guess i'd take option 1

yes I have eveyrthing to live the greatest live possible but right now rather the opposite is the case

then again, I don't think you'll help me.... neither can i help you

good luck with your biz though :thumbsup:thumbsup

How scenically.

You've never done anything to wrong me P.A. So if there was a situation where I could help, I just might. It's possible.

I'm glad to hear your life is dandy. :thumbsup

I am a creative person. So I am not happy just sitting around collecting money, even if it's more than all my friends make. I want to move on to the next thing, or invest in things more fun that business, and so forth.

I love what I do, and the money's great. But once I conquer one thing, I have to find some new challenge. I am not content to sit on my P.A. laurels.

One can make 10's of millions with option 1 before they need to take on a partner. Are you there yet? If not, stick to option 1.

true dat

Both are highly viable options, depending on the situation. First option is more suited for a financially strong operation, second is more suited for a financially weaker one. Not to say that it can't be done in other cases though.

Someone should pitch their sites to the Dragon's Den. :)
http://www.cbc.ca/dragonsden/

:1orglaugh:1orglaugh

Yeah. The main thing I would look for in a business partner would be someone who is strong in the things I do not like to do, or not as good in. Or where there is an opportunity. Like someone who is a network person, or a programmer.

Where you have a ying and a yang.

But they either need to have the capital behind them to make it where coming in there are an equal. Or they have to have the experience and skills to back up their end.

I think if you find the right person, and have someone who covers areas for growth that is can be advantageous.

I already do a lot of outsourcing, and a lot of the time it's VERY frustrating. You are dealing with different coders, or programmers, among other sectors and just getting them to see the vision is a struggle. Where if you had someone in house, it makes it easier. Not only in the initial set up, but when you need support issues resolved.

:helpme

No, I'm serious. It's a great show and the Dragons really are intent on finding a project to sink money and management into. :)

According to Shun Tzu running a big army is just as easy as running a small army. :winkwink:

I'll have to check it out if I ever get some free time.

I'd never heard of it before you pointed it out. :)