Free daily tips, information and advice for small business
from personal experience starting-up, operating and expanding small businesses of my own.
If you don't use Facebook to promote your business, you should. Facebook can be valuable in helping you operate and expand.
Just to be clear--I don't work for Facebook, and I don't get anything from writing about Facebook. But Facebook is a useful addition to your marketing tool box, and everyone in small business deserves to know about it and use it.
First, a Facebook page or presence is easy to set up. Even if you are not computer-savvy, you can follow the simple directions and be up and running in about five minutes. Just go to Facebook.com and begin.
Second, a Facebook page puts a photo face on your business. Everyone snaps digital photos these days. And a photo is easily uploaded to your Facebook page. (I've covered this--and given many examples--in previous write-ups.)
Third, a Facebook page is easy to maintain. You don't have to hire an expert. You simply check in every day and add more photos and comments. Quick, easy, cheap.
Fourth, a Facebook page brings in new business. As people "like" the things you put up on your page, they pass them around. This gets your business in front of more eyeballs.
Keep in mind that a Facebook page (I like to think of it as a presence) is a living thing. It's not like a brochure, it's more like a scroll that unfolds day by day. It attracts attention because it is not static--it changes. And you make the changes yourself.
Make your input photos a living record of your business. If you are a baker, photograph every cake as you are making it. If you are a florist, photograph every flower arrangement as you're are creating it. Show before and after photos. If you sell eye glass frames, get up close and personal with your frames, with an eyeball peering through at the camera.
Don't try to be professional. Instead, aim for humor or craziness. These things attract attention. You're not taking photographs for display in a gallery. You're having fun.
Bakers and florists are not the only ones who can benefit from a Facebook presence. Auto repair shops can use a close up picture of a mechanic's hand fiddling with some part under the hood. Pest exterminators can take endless pictures of bugs. Even lawyers and accountants can take pictures of public street scenes--adding comments.
The purpose of these pictures is to inform and entertain. They are quick glimpses or slices of life--something to do with you and your business, but memorable.
I know some small businesses that post pictures almost daily on their Facebook page. It keeps people talking, it keeps you in their minds, it spreads the word.
And it's free.
You can promote your business in many ways. Almost all of them cost you money. But Facebook came along and offered to promote you for free. Amazing. Ain't America a wonderful place?
Friday, August 29, 2014
Thursday, August 28, 2014
Answering phone calls
Free daily tips, information and advice for small business
from personal experience starting-up, operating and expanding small businesses of my own.
Serious business owners have a business telephone. And every telephone call should always be answered--live.
The person who answers your telephone is your business. The face of your business leaps into the caller's mind immediately when your phone is answered.
Example: Wendy was always busy in her dress shop. She ran the place alone, aiming to improve the wardrobes of business women. She had many ideas for accessories, and she was continually placing and re-placing accessories on outfits on display--a silk scarf here, a silver brooch there. She changed her store's front window at least two or three times each week. When the phone rang, she usually let it go to voice mail. Wendy woke up when one caller left this message: "I wanted to know if you carried designer clothes. I'll try someplace else."
You can lose a sale and a customer when you don't answer their phone call. And it is unlikely the caller will return to you. People move on.
Example: Andrew operated an architectural design firm. He worked alone and was frequently out of his office, so he had all calls transferred to his personal cell phone. One morning his cell phone buzzed as he walked next door to get a cup of coffee. The caller was from a high end architectural design firm and wanted to know if Andrew had any interest in being part of a team working on new corporate offices for a major company. If he had not taken that call, he might still be struggling. Today, however, he has two assistants and a personal receptionist/office manager who answers every call professionally.
Your business depends on customers and clients getting in touch with you in a live conversation. They deserve your attention--whenever they call.
Some businesses I know have a rule on ringing telephones==answer every call no later than the second ring. Their customers and clients are well-served by the policy.
from personal experience starting-up, operating and expanding small businesses of my own.
Serious business owners have a business telephone. And every telephone call should always be answered--live.
The person who answers your telephone is your business. The face of your business leaps into the caller's mind immediately when your phone is answered.
Example: Wendy was always busy in her dress shop. She ran the place alone, aiming to improve the wardrobes of business women. She had many ideas for accessories, and she was continually placing and re-placing accessories on outfits on display--a silk scarf here, a silver brooch there. She changed her store's front window at least two or three times each week. When the phone rang, she usually let it go to voice mail. Wendy woke up when one caller left this message: "I wanted to know if you carried designer clothes. I'll try someplace else."
You can lose a sale and a customer when you don't answer their phone call. And it is unlikely the caller will return to you. People move on.
Example: Andrew operated an architectural design firm. He worked alone and was frequently out of his office, so he had all calls transferred to his personal cell phone. One morning his cell phone buzzed as he walked next door to get a cup of coffee. The caller was from a high end architectural design firm and wanted to know if Andrew had any interest in being part of a team working on new corporate offices for a major company. If he had not taken that call, he might still be struggling. Today, however, he has two assistants and a personal receptionist/office manager who answers every call professionally.
Your business depends on customers and clients getting in touch with you in a live conversation. They deserve your attention--whenever they call.
Some businesses I know have a rule on ringing telephones==answer every call no later than the second ring. Their customers and clients are well-served by the policy.
Wednesday, August 27, 2014
Sharing space
Free daily tips, information and advice for small business
from personal experience starting-up, growing and expanding my own small businesses.
Previous write-ups have covered businesses owned by two or more partners. Less formal arrangements can benefit small operations.
Small businesses can share the costs of space and expenses. This arrangement works best with businesses that don't compete with each other but target the same or similar markets.
Example: Dr. Smith is an ophthalmologist. He wanted to move into larger office space, and at the same time he decided to partner with an audiologist. They maintain their practices entirely separate, but they share the expense of common areas and a receptionist who serves the two.
A spillover of clients and referrals can occur when two non-competing medical practices come together at the same location. Think chiropractors and nutritionists, podiatrists and massage specialists, dermatologists and psychotherapists.
Example: Artists and artisans can find it too expensive to afford a working studio that is open to the buying public. But a jewelry maker and a fiber artist can share space without getting in each other's way. By coordinating schedules, one or the other is always on hand to handle phones, customers and sales. Some take it to the next level--with jewelry, several different artists can share a single studio; and with potters, several different artists can share the space and the kilns. More importantly, they target the same market, drawing a more diverse buying public than if done alone.
Example: Massage therapists, nutritionists, hypnotists and holistic practitioners can benefit by coming together in a shared located. I know of instances in which these types of operations were only an interim step, growing eventually into full-fledged spa operations. See previous write-ups on this phenomenon.
Example: Tradespeople (plumbers, electricians, etc.) do most of their work at the work site. Having an office seems a needless expense. But if these specialists come together to rent space, it can be beneficial to future growth.
You need to carefully think through the benefits and drawbacks of such arrangements. No matter your particular business, you should be able to share space--and perhaps a receptionist--to the benefit of both operations.
You can be very creative in figuring out ways to get into business and then grow the operation. Sharing space is only one avenue. See my previous write-ups for more ideas.
from personal experience starting-up, growing and expanding my own small businesses.
Previous write-ups have covered businesses owned by two or more partners. Less formal arrangements can benefit small operations.
Small businesses can share the costs of space and expenses. This arrangement works best with businesses that don't compete with each other but target the same or similar markets.
Example: Dr. Smith is an ophthalmologist. He wanted to move into larger office space, and at the same time he decided to partner with an audiologist. They maintain their practices entirely separate, but they share the expense of common areas and a receptionist who serves the two.
A spillover of clients and referrals can occur when two non-competing medical practices come together at the same location. Think chiropractors and nutritionists, podiatrists and massage specialists, dermatologists and psychotherapists.
Example: Artists and artisans can find it too expensive to afford a working studio that is open to the buying public. But a jewelry maker and a fiber artist can share space without getting in each other's way. By coordinating schedules, one or the other is always on hand to handle phones, customers and sales. Some take it to the next level--with jewelry, several different artists can share a single studio; and with potters, several different artists can share the space and the kilns. More importantly, they target the same market, drawing a more diverse buying public than if done alone.
Example: Massage therapists, nutritionists, hypnotists and holistic practitioners can benefit by coming together in a shared located. I know of instances in which these types of operations were only an interim step, growing eventually into full-fledged spa operations. See previous write-ups on this phenomenon.
Example: Tradespeople (plumbers, electricians, etc.) do most of their work at the work site. Having an office seems a needless expense. But if these specialists come together to rent space, it can be beneficial to future growth.
You need to carefully think through the benefits and drawbacks of such arrangements. No matter your particular business, you should be able to share space--and perhaps a receptionist--to the benefit of both operations.
You can be very creative in figuring out ways to get into business and then grow the operation. Sharing space is only one avenue. See my previous write-ups for more ideas.
Tuesday, August 26, 2014
Making a living?
Not selling anything--just free daily tips, information and advice for people in small business
from a lifetime of personal experience starting-up, operating and growing businesses.
Your small business should be doing more than just making a living for you and your family. If not, get busy.
Many small businesses are marginal operations. If that's you, you need to do some soul-searching and rethink your business.
Look at it as a fork in the road. Behind you is "making a living." Ahead, you can go in two directions. Continue as you are or kick the business up a notch.
Example: Peter runs a florist shop. Many of his customers are locals who return to him when they want fresh flower arrangements. He gets additional orders through national floral organizations. It's not enough, however. He has kids who want to go to college one day. Peter decided to expand into rentals of flower arrangements--both fresh flowers and high quality silk flowers. He now regularly supplies arrangements to banks, clinics, organizations and corporate offices on a regular schedule--and in a wider area than he previously served. His bottom line has doubled.
To make more than a living, look to expand your business into additional avenues. If one doesn't work, try another.
Example: Della runs a consignment shop. She filled it with many things--from clothing to toys, from furniture to kitchen items, baskets and books. She thought that by having a little of everything, she would attract more customers. But business has not been very good. Della noticed a market for vintage and antique clothing. She began searching out items that would extend her stock (and reputation) in that direction. Soon, her consignment shop became a destination for teens, theater groups, high school play producers, and fiber artists looking for vintage and antique clothing and materials. People now come from far and near to shop there, and her website and Facebook page are both very active. Today, Della concentrates totally on this market. She has transitioned her "making a living" business into a much more successful operation.
Just "making a living" should not be your goal. Solve your particular problem by planning for a better future. You are always at a fork in your road. You can rock along, or you can head off in a better direction.
Hey! You got your business off the ground. Now make it all it can be.
I didn't get material for these write-ups by reading books or sitting through boring lectures. I've been there, done that--starting-up, operating and growing businesses of my own. I include dozens of examples in these write-ups. All are true--only the names are changed. Hundreds of examples are included in previous write-ups. I'm retired now, and I spend my time writing about what you can do to be more successful.
from a lifetime of personal experience starting-up, operating and growing businesses.
Your small business should be doing more than just making a living for you and your family. If not, get busy.
Many small businesses are marginal operations. If that's you, you need to do some soul-searching and rethink your business.
Look at it as a fork in the road. Behind you is "making a living." Ahead, you can go in two directions. Continue as you are or kick the business up a notch.
Example: Peter runs a florist shop. Many of his customers are locals who return to him when they want fresh flower arrangements. He gets additional orders through national floral organizations. It's not enough, however. He has kids who want to go to college one day. Peter decided to expand into rentals of flower arrangements--both fresh flowers and high quality silk flowers. He now regularly supplies arrangements to banks, clinics, organizations and corporate offices on a regular schedule--and in a wider area than he previously served. His bottom line has doubled.
To make more than a living, look to expand your business into additional avenues. If one doesn't work, try another.
Example: Della runs a consignment shop. She filled it with many things--from clothing to toys, from furniture to kitchen items, baskets and books. She thought that by having a little of everything, she would attract more customers. But business has not been very good. Della noticed a market for vintage and antique clothing. She began searching out items that would extend her stock (and reputation) in that direction. Soon, her consignment shop became a destination for teens, theater groups, high school play producers, and fiber artists looking for vintage and antique clothing and materials. People now come from far and near to shop there, and her website and Facebook page are both very active. Today, Della concentrates totally on this market. She has transitioned her "making a living" business into a much more successful operation.
Just "making a living" should not be your goal. Solve your particular problem by planning for a better future. You are always at a fork in your road. You can rock along, or you can head off in a better direction.
Hey! You got your business off the ground. Now make it all it can be.
I didn't get material for these write-ups by reading books or sitting through boring lectures. I've been there, done that--starting-up, operating and growing businesses of my own. I include dozens of examples in these write-ups. All are true--only the names are changed. Hundreds of examples are included in previous write-ups. I'm retired now, and I spend my time writing about what you can do to be more successful.
Monday, August 25, 2014
Mystery shoppers
Not selling anything--just free daily tips, information and advice to help you run your small business, all from personal experience starting-up, operating and expanding businesses over a lifetime.
Your business can benefit from doing a little test. Have a friend call your business and report back to you. Or have them make an appointment, or come into your shop and see how they're treated by your employee.
Businesses big and small use mystery shoppers to check up on the operation. How was the phone answered? Was the employee knowledgeable? Was the experience helpful to the caller/customer/client?
By doing this little check-up, you can improve your relationship with customers and the general public. The feedback can be eye-opening.
I am not suggesting that you go out and hire a professional mystery shopper. A trusted acquaintance can get results that will be useful to your business.
Example: Marisa runs a hair salon. She decided to check up on her receptionist--how the employee made appointments, suggested salon services and products, and generally handled customer concerns and questions. Marisa asked three friends to call. Two reported back that the receptionist promptly answered the phone, cheerfully took their information, fielded many questions and was knowledgeable about services. The third friend reported that the receptionist curtly said that she was very busy and couldn't take the time to go into detail on products for sale. With these mixed reports, Marisa looked at the receptionist's work schedule and knowledge of products sold off the shelf. She made one change--pass all calls about products to Marisa herself who was familiar with product details. This helped the operation run more smoothly and contributed to the bottom line.
A professional mystery shopping business can charge big bucks for their services. But small businesses can get good results using friends and acquaintances to do an informal job.
Example: Joe owns and manages a small restaurant, open for breakfast, lunch and dinner. He is on site for dinner, but not for breakfast and lunch. He made arrangements for several friends to report back to him after having breakfast or lunch. Everyone who reported back on lunch gave good results, but just about everyone who ate breakfast had nothing good to say about their food experience--the omelet was runny, the sausages were cold, and the bacon was burned. Joe replaced the morning cook. When he checked again, everything had improved.
Sometimes, a little mystery shopping can ferret out an under performing employee. Other times, it can confirm that you have a smoothly running operation.
Example: Eugene is a busy chiropractor. He has an older lady who handles the reception desk and other duties. He asked several friends to call and report back to him their experience. They were instructed to ask about shoulder/leg/back pains and how these might be addressed by chiropractic, together with questions about charges, evening appointments, and more. All reported back positive results. Eugene took his receptionist out to dinner and gave her a raise.
Checking up on your operation can help you run a better business. When problems are uncovered, solve them immediately. Later, check again.
You can "mystery shop" your operation easily and inexpensively. I've hired mystery shoppers in the past, and I've done mystery shopping myself--what you look for is an honest opinion from a disinterested shopper or caller. Their report can improve your operation in ways you might not be seeing yourself.
Your business can benefit from doing a little test. Have a friend call your business and report back to you. Or have them make an appointment, or come into your shop and see how they're treated by your employee.
Businesses big and small use mystery shoppers to check up on the operation. How was the phone answered? Was the employee knowledgeable? Was the experience helpful to the caller/customer/client?
By doing this little check-up, you can improve your relationship with customers and the general public. The feedback can be eye-opening.
I am not suggesting that you go out and hire a professional mystery shopper. A trusted acquaintance can get results that will be useful to your business.
Example: Marisa runs a hair salon. She decided to check up on her receptionist--how the employee made appointments, suggested salon services and products, and generally handled customer concerns and questions. Marisa asked three friends to call. Two reported back that the receptionist promptly answered the phone, cheerfully took their information, fielded many questions and was knowledgeable about services. The third friend reported that the receptionist curtly said that she was very busy and couldn't take the time to go into detail on products for sale. With these mixed reports, Marisa looked at the receptionist's work schedule and knowledge of products sold off the shelf. She made one change--pass all calls about products to Marisa herself who was familiar with product details. This helped the operation run more smoothly and contributed to the bottom line.
A professional mystery shopping business can charge big bucks for their services. But small businesses can get good results using friends and acquaintances to do an informal job.
Example: Joe owns and manages a small restaurant, open for breakfast, lunch and dinner. He is on site for dinner, but not for breakfast and lunch. He made arrangements for several friends to report back to him after having breakfast or lunch. Everyone who reported back on lunch gave good results, but just about everyone who ate breakfast had nothing good to say about their food experience--the omelet was runny, the sausages were cold, and the bacon was burned. Joe replaced the morning cook. When he checked again, everything had improved.
Sometimes, a little mystery shopping can ferret out an under performing employee. Other times, it can confirm that you have a smoothly running operation.
Example: Eugene is a busy chiropractor. He has an older lady who handles the reception desk and other duties. He asked several friends to call and report back to him their experience. They were instructed to ask about shoulder/leg/back pains and how these might be addressed by chiropractic, together with questions about charges, evening appointments, and more. All reported back positive results. Eugene took his receptionist out to dinner and gave her a raise.
Checking up on your operation can help you run a better business. When problems are uncovered, solve them immediately. Later, check again.
You can "mystery shop" your operation easily and inexpensively. I've hired mystery shoppers in the past, and I've done mystery shopping myself--what you look for is an honest opinion from a disinterested shopper or caller. Their report can improve your operation in ways you might not be seeing yourself.
Friday, August 22, 2014
Your reputation
Free daily tips, information and advice for small business
from personal experience in business--been there, done that.
Your reputation is everything in business. It spreads, good or bad.
As they say, bad news travels all the way around the world while good news is just waking up. You don't want bad news.
You build your reputation every day.
Example: Steve runs a small rental business. He rents carpet cleaners, power washers, concrete mixers, even lawn mowers, power tools and other things needed by homeowners and contractors. When a homeowner called saying she couldn't get the carpet cleaner to work, Steve jumped in his truck and went to the home to solve the problem. He took along a replacement machine--just in case. When a landscaper brought back a lawnmower saying that the blade was not sharp, Steve replaced the blade with a new one and wiped out the rental charge.
You can handle problems in different ways. Each customer complaint, however, should be handled quickly. Doing so protects your reputation by building customer confidence in you. This goes a long way toward assuring a good future relationship.
Example: Elena runs a small health food store. She sells organic vegetables, packaged foods, sandwiches and wraps to go, vitamins and supplements, and more. When a customer returned a bunch of carrots saying they were woody, Elena refunded the cost and gave the customer a gift certificate in a small amount to be used on anything in the store. The customer used it right away, spending many times the value of the gift certificate.
By going the extra mile, Elena helped the customer through a disappointing experience. The reputation of the store was protected.
Example: Betsy operated a one woman public relations firm. She was a whirlwind of activity with clients. One called to complain that the news release Betsy had provided didn't get picked up by the local press. Betsy went into action. She called several contacts, got the news release published and turned the situation around--building customer confidence and preparing the way for future business.
Carefully guard your reputation. Use every complaint as an opportunity. Show your customer that you care about their problems, that they can depend on you, and that you always follow through.
Your customers expect you to stand behind your goods and services. But no matter how alert you might be, mistakes happen and difficult situations arise. These are opportunities to show your stuff, gaining the confidence of your customer and assuring a continuing relationship--including referrals.
from personal experience in business--been there, done that.
Your reputation is everything in business. It spreads, good or bad.
As they say, bad news travels all the way around the world while good news is just waking up. You don't want bad news.
You build your reputation every day.
Example: Steve runs a small rental business. He rents carpet cleaners, power washers, concrete mixers, even lawn mowers, power tools and other things needed by homeowners and contractors. When a homeowner called saying she couldn't get the carpet cleaner to work, Steve jumped in his truck and went to the home to solve the problem. He took along a replacement machine--just in case. When a landscaper brought back a lawnmower saying that the blade was not sharp, Steve replaced the blade with a new one and wiped out the rental charge.
You can handle problems in different ways. Each customer complaint, however, should be handled quickly. Doing so protects your reputation by building customer confidence in you. This goes a long way toward assuring a good future relationship.
Example: Elena runs a small health food store. She sells organic vegetables, packaged foods, sandwiches and wraps to go, vitamins and supplements, and more. When a customer returned a bunch of carrots saying they were woody, Elena refunded the cost and gave the customer a gift certificate in a small amount to be used on anything in the store. The customer used it right away, spending many times the value of the gift certificate.
By going the extra mile, Elena helped the customer through a disappointing experience. The reputation of the store was protected.
Example: Betsy operated a one woman public relations firm. She was a whirlwind of activity with clients. One called to complain that the news release Betsy had provided didn't get picked up by the local press. Betsy went into action. She called several contacts, got the news release published and turned the situation around--building customer confidence and preparing the way for future business.
Carefully guard your reputation. Use every complaint as an opportunity. Show your customer that you care about their problems, that they can depend on you, and that you always follow through.
Your customers expect you to stand behind your goods and services. But no matter how alert you might be, mistakes happen and difficult situations arise. These are opportunities to show your stuff, gaining the confidence of your customer and assuring a continuing relationship--including referrals.
Thursday, August 21, 2014
Partners in business
Free daily tips, information and advice for small business
from personal experience--been there, done that.
You will find this useful if you are considering taking on a partner in your business. Two people joining together to form a business is sort of like a marriage.
Partners must be compatible with each other, appreciate each other's company, and complement each other.
Example: Clayton ran a small carpentry business. He had many years experience building fine cabinetry in residences, offices and clinics. Business was good, but Clayton wanted to expand. He, his employees and his shop could handle more jobs, but he knew he lacked the "outside" skills--meeting new people, attending events, selling his services. He found a potential partner in Bill. They enjoyed their conversations and respected each other's mind set. Bill had a successful career behind him selling window treatments to residential clients, decorators, and office managers. Clayton and Bill formed a partnership based on all the new business Bill could bring to the cabinet shop over the course of a year. If targets were met, Clayton and Bill would own equal parts of the ongoing business.
Look for partners who bring talents that complement your own. If you're good at production but not so good at selling, do as Clayton did. A careful phasing-in period can be important to iron out the details.
Setting up a partnership in an existing business is one thing. Setting up a partnership as a brand new operation is another.
Example: Gary had run several successful businesses. Looking around, he saw a new opportunity in real estate--small apartment buildings. Money was not his problem, but Gary realized he would need a detail oriented partner. He began a search--asking business friends, interviewing several possible candidates, and, finally, homing in on a young man named Jose. Jose was bright, energetic, ambitious, a "self starter" and had held several different jobs in the construction trades while in high school. Best of all, Gary and Jose had compatible personalities. Gary proposed an equal partnership, starting out with a small apartment house. Gary would handle the business end (banks, lawyers, taxes, etc.) while Jose would handle maintenance, customer complaints, and search out additional properties they might acquire. The partnership was successful. Gary and Jose worked together, relying on each other's experience and talents.
Care must be exercised in setting up a partnership. Two partners who do the same things get in each other's way. Two partners who complement each other have a good chance at success.
All my examples are taken from personal experience--only the names are changed. For more than 30 years, I ran my own businesses, and for ten years I headed the Business Owners Institute in New Jersey--all the while writing about small business. I have learned the hard lessons of small business--what works and what does not work. And that is why I write this daily blog.
from personal experience--been there, done that.
You will find this useful if you are considering taking on a partner in your business. Two people joining together to form a business is sort of like a marriage.
Partners must be compatible with each other, appreciate each other's company, and complement each other.
Example: Clayton ran a small carpentry business. He had many years experience building fine cabinetry in residences, offices and clinics. Business was good, but Clayton wanted to expand. He, his employees and his shop could handle more jobs, but he knew he lacked the "outside" skills--meeting new people, attending events, selling his services. He found a potential partner in Bill. They enjoyed their conversations and respected each other's mind set. Bill had a successful career behind him selling window treatments to residential clients, decorators, and office managers. Clayton and Bill formed a partnership based on all the new business Bill could bring to the cabinet shop over the course of a year. If targets were met, Clayton and Bill would own equal parts of the ongoing business.
Look for partners who bring talents that complement your own. If you're good at production but not so good at selling, do as Clayton did. A careful phasing-in period can be important to iron out the details.
Setting up a partnership in an existing business is one thing. Setting up a partnership as a brand new operation is another.
Example: Gary had run several successful businesses. Looking around, he saw a new opportunity in real estate--small apartment buildings. Money was not his problem, but Gary realized he would need a detail oriented partner. He began a search--asking business friends, interviewing several possible candidates, and, finally, homing in on a young man named Jose. Jose was bright, energetic, ambitious, a "self starter" and had held several different jobs in the construction trades while in high school. Best of all, Gary and Jose had compatible personalities. Gary proposed an equal partnership, starting out with a small apartment house. Gary would handle the business end (banks, lawyers, taxes, etc.) while Jose would handle maintenance, customer complaints, and search out additional properties they might acquire. The partnership was successful. Gary and Jose worked together, relying on each other's experience and talents.
Care must be exercised in setting up a partnership. Two partners who do the same things get in each other's way. Two partners who complement each other have a good chance at success.
All my examples are taken from personal experience--only the names are changed. For more than 30 years, I ran my own businesses, and for ten years I headed the Business Owners Institute in New Jersey--all the while writing about small business. I have learned the hard lessons of small business--what works and what does not work. And that is why I write this daily blog.
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