PARTNERSHIPS

A 1950 industrial age approach to business has gone by the wayside. Businesses that have stayed in the “Build it, Sell it, Repeat” business model are not going to make it. Blockbuster is a dying business model because they own it, rent it, repeat has led the way for a better more convenient model to surpass them via the internet. Blockbuster is trying to integrate the model with new technology but you have to ask yourself if Netflix’s cache, ease of use and internet dominance will drive the last nail in the Blockbuster coffin. Diversification with partners at every level of business creates a mosaic of business opportunities that rise and fall depending on the changing marketplace. Partnerships allow businesses to make the adjustments quicker by using the resources of a more specialized party to reduce the learning curve on a required innovation. Partnerships are the insurance for business in the 21st century.AH 

BUSINESS WHIRLPOOLS

Rolling River, trickling stream, tsunami. All of these could describe business. What about a whirlpool? Sometimes the business model that you are using can create a circular pattern. In other words, the same clients, same patterns and same techniques create the pooling effect. On the inside of this pool there seems to be activity, motion, movement and speed. But on the outside looking in you discover that there lacks perpetual forward motion. If the pool is big enough you might miss going in a circle but eventually all activity moves into the center where the water is stagnate. Center is where business ends up if you do not redirect the flow of marketing, resources and time. A whirlpool is self-contained and if you lack the initiative to move away from the comforting flow another business will absorb the water around you watching you die out. Are you floating or swimming? To find out ask these simple questions:1. Am I adding value to my clients this year more than last year?2. Is my staff getting better?3. What new technology can I implement to cut costs, increase productivity, and decrease mistakes?4. Should I eliminate an area of my business that is not profitable?5. Have I added new clients in the last week from a new referral source?6. What are my 6 month goals for business activity?7. Should I replace myself with a manager, technician or chief operating officer?8. Am I doing what I love?AH