From taking out the trash to human resources management, early in a business’ lifecycle, you might find yourself doing everything, but that’s just not sustainable in the long term. On this episode of unsuitable on Rea Radio, we are joined by Brad Martyn, of FocusCFO, who reminds us that the simple act of surrounding yourself with other business owners and industry professionals is another great way to invest, in the continued success of your business.
You will have the greatest impact on your business when you are able to focus on what you are good at. Business relationships are great resources for filling in the weak spots.
Remember: There’s probably more readily available and valuable information being offered than there are business owners willing to listen. Often, the entrepreneur’s greatest asset – their ego – is also their downfall. To be successful, surround yourself by other great business minds and be willing to listen.
There are four areas that are critical for every business:
- Product – You have to be able to efficiently develop, refine, and distribute new products.
- Marketing – You have to be able to find and connect with customers.
- People – You have to surround yourself with top talent.
- Finance – You have to understand your finances and be able to manage them, effectively and legally.
Focus on the areas in which you are strongest. After you identify your strength, identify your biggest need and find people with complementary strengths. Reach out to other companies, your advisory group, CPA or lawyer for connections throughout your market or state.
You don’t need to know how to do everything – you just need to find the people who can do everything you can’t.
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official transcript
Click here to read the official transcript for episode 80, “you can get by with a little help from your friends.”