FBC – 487 – How to make your business more successful

How to make your business more successful.

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Want some tips on how to make your business more successful?

Maybe you haven't started the business and you want to start it on the right foot.

The dad of a good friend of mine gave him a piece of advice that proved to be very profitable for him throughout his life and I am going to share it with you in this episode.

Make sure to tune in to today's episode

Here is one of my favorite quotes:

“Everything started as nothing.”
– Ben Weissenstein, founder and CEO The Entitled Group

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OK, so yesterday I was out with a buddy of mine and we had lunch and we were talking to one of the guys on my team, because he's much younger than we are. And we were basically the old timers giving him some advice and stuff.

And so my buddy mentioned that he always got advice from his own dad and that advice that his dad gave him proved to be true. OK, so his dad always told them that look, if you go alone in a business, you will fail, don't go alone at it, find a partner.

Once you have a partner, then it is going to work because, you know, it could be that the partner has some skills that you don't have and this is how it works.

OK, so I don't agree 100 percent with the advice that was given. I think it's true to a certain extent. I will formulate it in a different light, like differently, actually. But there is actually some truth to that.

OK, so what I think is this is you don't necessarily have to partner with the person because I think it's the word partner was the one that was kind of like bugging me. OK, but you don't actually need to be a partner with the person.

You know, I've started businesses and my own business. I don't have a partner in the business. But still, that advice of finding people who have skills that you don't have, this is exactly on point, right?

Because you don't know everything. You cannot be the biggest expert in everything. And you need people who have those skills that you don't necessarily have. You can't even imagine how easier life gets when you have people like this in your business.

So me, for example, I have a lot of people like this who know how to do stuff that I don't want to know and I don't necessarily want to go out and do it. That's also one of the things that I will look at when I’m hiring people.

Because there is a risk of even if you try, you will centralize all the information in the company and you'll become a bottleneck where everything has to go through you. It's not profitable for the venture. It will actually slow things down.

How to make your business more successful

What I want to say is that advice that my buddy's dad gave him is very true. It doesn't mean that you have to partner with the person. Right. It means that you need those people in your business in one shape or form to be able to be more successful.

And again, my team is composed of people who know a lot of things that I don't know. I don't know everything. I don't know the ins and outs of stuff. I have a bird's eye view of the thing but I don't need to go into the nitty gritty because I have people who can go to the nitty gritty. And when they explain what's happening, I can understand the basics of it.

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