Picture2I own and manage a virtual accounting business. That is my core competency. Now can you imagine if I tried to operate my core business and also do my own admin work, social media, website and IT support and human resource tasks? I would be spreading myself too thin and spending time (which equates to dollars) on tasks that were not actively growing my business.

How can we as business owners make certain we are concentrating on core competencies (because that is why our clients come to us in the first place – for our unique expertise)? We can form partnerships with others who are expert in the areas in which we need assistance. A savvy business owner hires people to do the work that it outside of their niche.

Here are my suggestions on fostering strong partnerships as a way to help you focus on your core business strengths:

  • What do you need help with? To establish this ask what you aren’t good at and what drives you crazy. Once you understand that, you can look for business partners who are experts in those areas to work with who can take those tasks off your plate.
  • Get to know your potential partner. Talk with other clients with whom he or she works. You need to trust your business partner to have your best interest in mind so you can concentrate on your business rather than second guessing and checking up on the partner you’re working with. This is a good time to discuss expectations to make sure you’re on the same page.
  • Make certain you keep in touch on a regular basis. Check in to see if you’re on track.

What can you do to enhance partnerships as a way to grow your business?

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