11/6/2021 Tip: OA #5: Partnerships | Growthink

11/6/2021 Tip: OA #5: Partnerships

Today’s Quote

“The worst disease which can afflict executives in their work is not, as popularly supposed, alcoholism; it’s egotism.”
~Harold Geneen

 

Today’s Tip

This week I’ve been discussing the “organizational assets” (OAs) you must build to give your company the best chance of long-term success.

Today’s OA is partnerships.

I’ve created several partnerships with major websites and organizations to be the only business plan provider they promote. This excludes my competitors from working with those organizations and serving their customers.

Having the right partnerships can help you gain customers, decrease costs, and gain credibility among other things.

So, please think about this today: can you form exclusive partnerships to help you grow your company and gain competitive advantage?

 

Today’s Resource

How to Build a $10 Million+ Company

What’s the difference between successful multi-millionaire entrepreneurs and the typical small business owner just struggling to get by?

Well, there are a LOT of differences, actually…

But I’ve summarized the main differences on this page:

How to Build a $10 Million+ Company <—- 

The really interesting part is that you don’t have to work yourself to death to grow a wildly successful, eight-figure business…

In fact, when you follow this formula, you can make much more by working less…

How to Build a $10 Million+ Company <—- 

 

Trivia

Today’s Question: How many pairs of shoelaces are sold annually?

Previous Question: What does “tranche” mean in financial terms?

Previous Answer: Slice or Part. 

Tranche is a derivative of the same French word meaning “slice.” In financial terms it means a part of a transaction.  

In many cases, when you raise funding, it will be delivered in tranches. For example, if you raise $5 million, you may get the first $2.5 million today (first tranche) and the other $2.5 million once you complete certain milestones (second tranche).
 

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