Like anything new, starting your own business can be a little (or a lot) scary.
What if you pour your heart and soul, along with a whole bunch of time and money, into it and you fail?
On the other hand, starting your own business is a very exciting time.
When you finally decide to take the plunge, it’s usually after many, many hours of dreaming, planning, and brainstorming about making something you’re passionate about into your life’s work.
One thing to consider amidst all these emotions is whether having a partner might benefit your business.
Friends and family can certainly cheer you on and listen to your stories, but a partner actually walks the path with you, experiences the stories with you, and is just as invested in the outcomes as you are.
It’s a big decision, and a big step to take, but here are five reasons it could be a positive thing for your business.
1. Fun and Motivation
As humans we’re naturally wired to want to be around other humans.
Most everything is more fun when you have someone else to do it with.
Having a partner in your business gives you someone you can share the excitement with, someone who can push you to your full potential, and vice versa.
Having a partner also helps on those days when you just don’t feel like doing it.
Maybe you’re having a creative block, have too much going on with your kids, or are coming off a letdown in the business.
Your partner can help you break through all of these things by taking up some of the slack, or simply giving you a little pep talk.
2. Accountability
When it comes to getting anything done, research always shows that people benefit from being accountable to someone else.
So when you don’t feel like writing that new sales page for your business and you’re working alone, there’s a good chance it won’t get done.
But if you’ve set a meeting with your partner to review it at 10:00 a.m. tomorrow, there’s a great chance that it will get done.
Having a partner almost guarantees increased productivity in your business.
3. Increased Capital
When you bring on a partner in your business you now have not only your money to work with, but hers too.
In business, the old saying, “it takes money to make money” is certainly true.
Sure, you can start with little to nothing and build things up over time, but the more money you have to put into your business, the quicker you’re going to be able to do effective marketing, purchase helpful equipment, pay outsourcers to do things beyond your skill set, and take on other expenses that will help grow your business.
4. One + One = 100
In math, one + one = two, but in business the results are dramatically better.
It’s impossible to define exactly what goes on when two people partner up in business, but you find that instead of just being able to get twice the amount of work done, your output skyrockets as if you were a much larger team of people.
Basically, adding just one more person to your business is a multiplier.
And we’ve all had days when we wish not only could we clone ourselves, but that we really need four, or five, or even six of those clones.
With a partner, this dream comes true, and yet it’s even better.
Getting another you is nice, but what if you could get another you who had different skill sets than you had?
Suddenly not only are your bases covered, but so are others that were previously beyond your talents.
The power of brainstorming and implementing with another person who is just as invested in the business as you are is perhaps the best reason there is to consider bringing on a partner.
5. Larger Network
They say in business it’s who you know, and that’s true on many levels.
When you have a partner, you are increasing the network of people available to help in some way with your business.
Perhaps most importantly, you’ve increased your potential customer base, since people who already know, like, and trust you make great first customers as your business is starting.
And since not everyone you know will be your ideal client, your existing network is also a great place to seek referrals to people who may be a good fit for what you offer.
In addition to increasing your potential customer and referral base, your partner may know someone who’s an expert in an area you need help in, may have a relationship with someone who can give you a discount on a needed business service, or may have a friend who can get you in an otherwise closed door of some kind.
The thing about tapping into your network is you often find advantages in knowing others that you never would have expected or looked for.
The bigger your network is, the more chances you have to reap these often unforeseeable benefits.
One Big Reason You Should Proceed With Caution
Having a business partner can mean rapid growth for your business and can make things a lot more fun from the beginning, but it’s best to think things through and talk things through long and hard before going down this path.
Because chances are, at some point, the business relationship is going to end.
And it’s easy to be excited and see all the great possibilities in the beginning, and to ignore the “what ifs.”
But you have to consider from the beginning, what if the business fails?
What if one partner loses interest or has to change direction for some reason?
And the “what ifs” that you can’t predict are even harder because they’re impossible to plan for.
You don’t want to risk losing a friend, or having some messy legal battle if the business ends and you can’t agree on things.
At the very least, you need to talk about the “what ifs” and plan to the extent that you can how you’ll deal with it if one person wants out.
Are you 50/50 partners? Who makes decisions and what do you do if there’s disagreement?
Brainstorm as many unhappy scenarios as you can think of and make sure you and your potential partner have the same business philosophy so you can face challenges and hurdles together.
It’s easy to share in the good, but sharing in the bad can lead to the demise of your business if you don’t have a plan.
Partner With Kids Party Characters
Kids Party Characters offers an exciting opportunity to partner with us and start your very own Kids Party Characters business.
The great thing about this opportunity is it comes with all the rewards of partnership, but none of the risks.
While your business is all yours from the financial and decision-making side of things, Kids Party Characters owner Cheryl Jacobs will be by your side providing everything you need to get started in your business, as well as training and support along the way.
Membership with Kids Party Characters is the perfect path if you’re a new entrepreneur, as we provide everything you need to get started, including access to our 200+ costumes, as well as our casting director and acting coach.
You’ll also get an exclusive territory in which to book parties, and business training and support from Cheryl Jacobs and the Kids Party Characters team that will show you step by step how to get started.
If you think this could be the right opportunity for you, book a free, no-pressure chat with Cheryl right here and she’ll get all your questions answered.
If you want to learn more about Kids Party Characters and the magic we bring to children’s parties, connect with us on Facebook for daily updates.
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