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How To Find the Best Partner
Posted on March 9, 2011 by — No Comments
John O’Reilly and Nora DePalma were among 43 business owners quoted by The Entreprenette Gazette about business partnering, 22 months about their own decision to merge agencies. O’Reilly and DePalma supplied five tips for knowing when it’s the right time to seek a business partner:
1. The business needs to diversify and expand offerings to remain competitive.
2. The business has grown to the point that efficiencies could be realized with a partner, including shared overhead costs.
3. You seek an equal as a creative and strategic sounding board.
4. The partner brings immediate and significant revenue growth.
5. You’ve learned that it can be lonely at the top. The right partner helps share the challenges of managing and motivating people.
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