![]() |
![]() |
Real Estate Information |
|
![]() |
![]() |
Partnering For Progress and GrowthSue and Chuck DeFiore Many home-based entrepreneurs are gaining new ground with partnering arrangements. Although it takes many shapes, the core of the partnering concept is two or more businesses teaming up to achieve together what they can’t do alone. Partnering with other businesses can help you offer a broader product or service package to a particular market segment, provide the resources to handle a single major project, or organize resources to meet your customers’ needs. Whatever the scenario, partnering gives you the image of seamless capacity typically associated with large corporations. Even though it has been around for a while, don’t expect to find fixed rules for individual partnering agreements. With the concept rapidly evolving, some partnerships resemble entities unto themselves; others parallel outsourcing or subcontracting relationships. Some business owners partner only under carefully drawn contracts; others do it on a handshake. What’s important is developing an arrangement that satisfies all parties involved. Partnering allows very niche-oriented businesses to serve clients’ complex needs and to compete against large firms that have all the necessary staff in-house. Partnering also allows you to handle a large one-time project without actually hiring employees. Another advantage of partnering is it provides a home-based business the opportunity to grow substantially without having to move to a commercial location. Get It In Writing While partnering enthusiasts claim there are no serious drawbacks to the process, you should still proceed with caution, especially in the beginning. Formalize your agreement with a detailed written contract that clearly defines each partner’s role and responsibilities. The contract covers what each is responsible for and what the compensation will be. It also includes short and long-term goals. The process of drawing up the contract forces you to think things through and be sure both are on the same page before starting. A business relationship is like a marriage-it takes work and sometimes you have to compromise. Just like a marriage certificate doesn’t guarantee a happy relationship, a contract doesn’t guarantee a successful partnership. Even so, a contract can provide the foundation of a mutually beneficial business relationship and give you processes to end the alliance should that become necessary. Think about all the things that could go wrong and how you would deal with them. What if one of the partners wants out If the partnership splits up, who keeps the clients Who signs contracts How will you handle a situation where one partner fails to fulfill his or her obligation Consider the issue of liability not only from the legal perspective but also as it pertains to image. What happens if one of the partners either performs poorly or fails to perform at all An attorney can review your agreement and advise you so you’re protected against legal liability, but you may still be putting your reputation at risk. Take the time to get to know a prospective partner, gain confidence in his or her abilities and reliability, and check references. Where do you find good partners They’re pretty much everywhere. Clients may also serve as the catalyst for a partnership, or contacts may be made through various networks. As successful as partnering can be, don’t rush into it. Define your niche and your client base, and develop trust with your clients first. Once your business is established on its own, then look for ways to enhance it through partnerships. Copyright 2004 DeFiore Enterprises
| ![]() | ![]() | ![]() | RELATED ARTICLES How to Choose the Proper Entity for Your Business First, let me state that Im not an attorney and the rest of this article is just based on my experiences so Id advise you to contact John Hyre at www.realestatetaxlaw.com to get some solid, specific advice on your particular situation. The 3 Keys To Business Victories No matter what business you are in there is a high chance of failure. Why Because most people dont do the research and keep the right focus needed to succeed. How To Get Sellers To Call And Beg You To Take Their Property! Im going to give you the *basic* steps in my $0 Down Real Estate Investing Program. I outline the program in *detail* in my 324 page e-book. For details about the book. http://www.realrealestateexperts.com and much, much more! Organizing Your Day One of the hardest things for most individuals working from home is to stay focused. One of the best ways to stay focused is organization. In addition, being organized will help your time management skills. The two are very much intertwined. Your Yearly Living Trust Review Some time ago, Congress made certain changes to the estate taxes.As a result of the changes, effective January, 2004, the tax free amount increased to $1,500,000. Back in 1997 it was $600,000. This allows a married couple to leave a minimum of $3,000,000 tax free. Parenting and Running a Home-Based Business An Ann Landers column "Parenthood is not a job for the weak at heart" caught my interest. 5% Down Vs. 10% Down - A Comparison It has always been an issue for home buyers to save their down payment. Many people, on advice from various people wait to save 10%, rather than moving into the home sooner with 5% as a down payment This is not always a good idea. Let me explain; How To Better Handle Your Mail Letters, magazines, bills, flyers, what to do with them all. There should be only two responses to every piece of mail or e-mail, do something with it, or toss it! 1,001 Deals and Steals: A Guide To Online Classifieds Some naysayers way back in the 1990s predicted that online shopping wouldn’t last. Sure, and they said television was a passing fad, too! As we all know, just the opposite has occurred. There’s a television in every household, and more than likely, the homeowner bought their television online—along with his books, music CDs, clothes, and maybe even his home. Scaling Down Almost Painlessly Moving to a smaller house or apartment in a retirement community almost always involves a certain degree of trauma, both for the elder whos moving and for family members. However, by planning ahead you can reduce the discomfort involved and turn what might well become a nightmare into a pleasant event. Hire Divorce Lawyer or Use Online Divorce Forms When do you need to hire a family law attorney and when is it okay to just use an online divorce form website to save a little moneyThis article will provide a few pointers to help you decide whether to do it yourself or retain a divorce lawyer. 10 Wisdom-Based Wealth-Building Strategies “It’s the business of your life…and you’re the CEO!”Gala Gorman New Bill to Keep Banks out of Real Estate This week Congress introduced a bill titled, "Community Choice in Real Estate Act," to permanently ban banking conglomerates from entering real estate brokerage or property management. This is because some of the larger banking conglomerates have requested permission from the Federal Reserve Board to sell and manage real estate. Pretty much every major organization in the real estate industry is backing the bill against banks in real estate. Living and Retiring in Bolivia A beautiful and inexpensive place without a tourist in sight. Sound like a dream Its not. This slice of paradise does exist. Nestled high in the Andes Mountains of South America, Bolivia is a little-known retreat exotically spiced with a unique Latin and Native American flavor. Bolivia has a lot to offer…a very low cost of living, unspoiled natural environment, friendly people and a range of climates to suit virtually every taste. Complete Home Rehab In 10 Days This report is about taking a house and restoring it to an aesthetically pleasing dwelling that has reclaimed it’s functional utility.In effect, it is the anti-aging medication for bricks and mortar. Remodeling Your Home:How Much Is Too Much The classic way for homeowners to increase the value of their house is by remodeling existing rooms or adding on to its current plan. A Simple $20.00 Investment Can Protect You, Your Family and Your Nest Egg! NY - 07/23/04 - What if you discovered that twenty dollars could give you access to an array of valuable information that addresses the lifestyle, needs and financial interests of people 50 and over. Well, a twenty dollar annual membership in Senior Resources of America, headquartered in West Hills, California, does just that and more. Real Estate Bankruptcy Although real estate bankruptcy cases no longer dominate the bankruptcy courts dockets as they did in the early nineties, but they continue to be filed with great frequency in UK. At its essence, the real estate bankruptcy is a two party dispute between mortgagee and mortgagor. Real estate bankruptcy cases are typically filed after a foreclosure sale has been set. Upon learning of the bankruptcy filing, a secured creditor has a number of available options, all or some of which should be exercised, depending on the facts of the case, to maximize loan recovery. Find a Job in a Fast Growing Field Using Labor Market Information For Your State The question confronting most people who want to find a job is "whats a good paying job with growth potential" A Bad Hairdresser Day "Hey everybody!" Hairdresser Lady called out."Its The Happy Guy." ![]() |
home | site map |
© 2005 |