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Partnerships: Strengthening Your Position
Strategic partnerships are good for you and your investing business. Some folks shy away from partnerships because there has been some bad press about rip offs, betrayals, greed driven murder, and such. However, these portrayals make good TV dramas and feature length movies, and of course increase daily newspaper sales when they occur.
Side note; if you are a real estate investor, use “jacks of all trades” carefully for your rehab projects. A good handyman can be much cheaper than a contractor, however, the handyman may not know all there is to know about certain projects.
Many businesses today can be pretty good at a lot of things but not truly masters of any one aspect. In today’s market, no one can afford to be fragile. Its time to make the changes you need by re-
The truth is that these negative partnership portrayals are very rare as successful partnerships abound in the business world. Strategically beneficial partnerships are commonplace as businesses realize that they can’t be experts in every phase or aspect of a money making opportunity.
The dictionary defines partnership as “a contractual relationship between two or more persons carrying on a joint business venture with a view to profit, each incurring liability for losses and the right to share in the profits.” In this economy, you will need partners in order to find the best deals and close quickly. Your fellow investors are using strategic partnerships to swell income streams to phenomenal levels.
The book, The Art of War, defines a source of strength as unity. Obviously, if you are a force of one, you are by definition not united to anyone. A modern day adage illustrates weakness by calling someone a “jack of all trades and master of none”. This phrase has come to mean that a person can know a lot of different things but does not possess excessive skill at any one particular aspect. In the working world, a jack of all trades can stay busy and feed his family.