Boss Lady

Partner company benefits: you don’t need to do everything

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This guide outlines the benefits of working with a partner company instead of trying to cover every base yourself.

As a businesswoman, you may feel undue pressure to “do it all” – to wear every hat and fill every role. Let’s face it: this inevitably leads to exhaustion, burnout, and might even make you forget why you pursued your career in the first place.

Why consider a partner company?

For aspects of business management that are outside your purview or areas of expertise, consider working with a partner company. If you’re starting a retail business and trying to get legal affairs in order, or the president of a corporation trying to develop and run your website, it may be a strategic business move to partner with a professional company or even outsource. Leveraging a trusted partner for certain aspects of business development and day-to-day management can make all the difference in driving success and business growth.

Aspiring entrepreneurs: develop and execute a business plan

Working with a partner company can (and often should) begin at the first stage of your business journey. Consider working with a partner company to create and implement your business plan.

Strategic business plan development must be the first step for every aspiring small business owner, as a business will not be successful long term without a strategic plan. A carefully researched, comprehensive business plan should serve as your company’s “north star,” streamlining business management, helping you set priorities and keeping your decisions goal-oriented and laser-focused on growth. Working with a partner company that offers a business planning tool will help ensure you include all the necessary components of an effective plan, ultimately setting the foundation for business success.

Know when to learn versus when to partner

As you begin executing strategies and tactics outlined in your business plan, also consider working with a partner company to outsource areas of day-to-day business management and maintenance. As you likely know, running a business requires more than just a specific skillset or passion. Identify what you like and where you excel, and prioritize those areas instead of trying to do it all.

Small business owners often wear many different hats – from accountant to marketer – and all too often are held back because of a lack of time, resources or knowledge. But that doesn’t have to be the case. Entrepreneurs shouldn’t be afraid to outsource tasks to experts or partner with professional companies.

For example, what was once a job that required a specialized skillset – such as business plan development, legal services incorporation, online presence maintenance, or inventory management – can now be handled from a single platform with automated, intelligent features. This is a huge benefit for a small business with fewer resources than larger companies or corporations. Don’t give up your passion in the interest of business development or management. Instead, partner with companies that can close any skills gaps that exist within your organization.

Never stop perfecting your craft

It’s key to continue perfecting your craft and pursuing opportunities that remind you why you started your business or followed a certain career path. You must always continue learning and experimenting, keeping up with trends and staying ahead of the curve to maintain a leg up on your competition. Working with partner companies to handle the necessary aspects of day-to-day business management enables you to constantly improve your products or services and focus on further business development and growth. In the long-run, this could have a positive impact on your company’s bottom line.

Website development and optimization

As an example, new entrepreneurs and small business owners must prioritize building their digital presence. Having a digital presence is non-negotiable for small businesses today. Small business owners need to have a well-designed and easy to navigate website to attract new consumers and create loyal customers.

A well-designed and maintained website gives small business owners an opportunity to showcase their products and services to a wide audience and garner credibility online. Most people are not tech savvy at the start and that’s where working with a partner company can be a strategic business decision.

Consider working with a technology company for website development and maintenance, to support an e-commerce platform, and to help increase ROI through online presence optimization. Working with a partner company enables you to remain agile and adjust sales and marketing strategies and tactics based on the ever-changing consumer landscape.

When new trends arise, such as an increase in mobile versus desktop device purchasing, working with a partner company can ensure that your website has an easy-to-navigate, clean mobile interface. As another example, today’s consumers increasingly want (and expect) immediate, ongoing 1:1 interaction, so working with a partner company to add features like chatbots to a website creates an always-on business persona and provides customers with constant access to a brand.

Finding the right partner company for you

Working with a partner company can guide strategic decision-making and help streamline business processes. Leveraging a professional service can help you not only start your business, but also manage and grow it. Engaging a partner—but not just any partner, the right partner for your company and business needs— can take the guesswork out of starting and managing a business. Tasks that may have seemed overwhelming become manageable and day-to-day job simplification leaves more time for business growth and achieving goals.

Conclusion

The right partner company can give aspiring or existing small business owners an unprecedented sense of confidence, and help passions and pipe dreams become successful business endeavors.

About Maria Melo

As a senior business advisor at Yahoo Small Business, Maria Melo has been working with new and established eCommerce merchants for over 20 years to help them grow their businesses. Maria has also spent over 14 years working with her family in their brick and mortar retail store and is part owner of her own retail wine shop with her brother and sister.

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