Monday, July 6, 2009

Business Partners and Building a Brand

It's been an interesting time, and as always, I've been learning plenty.

I've recently taken on a business partner, and I'm confident that it was a good move. Finding a business partner is a tricky move, and it is not something you should decide to do overnight. When you have a project, it becomes like your child, and not everyone is equipped to handle such responsibility. Not only does it take someone who has the same vision as you, but it take someone with the same passion for making it happen. Most... if not everyone in the world would like to be rich. It's the world dream: to have at least so much money that you don't need to worry about money. Well, in order to pioneer a real project with a great goal it is important to have people who don't just see the value in money. There is much more, such as building good relationships with employees, consumers, suppliers and investors. It is important to have the belief that your products and company goals are honorable and for the greater good. No one can argue with a company who is out to better everyone's world.

Most companies start with that passion driven person, but over time the business people take over and the focus becomes pure profit, which short term may work wonders, but dooms the company for the long term. Keeping control of cash flow is important, but it should not be the number one. Toyota is a great example of this. After working for Toyota, it has earned my respect in a number of ways. The number one priority of Toyota? Safety 1st. The ironic part of this is that by making safety 1st, the company actually saves tons of money in the areas of lawsuits, health care, and employee downtime. Not to mention that employee satisfaction increases, and that employees now can work for longer without injury.

Not focusing on the green doesn't mean that you aren't going to produce a successful products. It means that you have a greater shot of create a successful company. Build a brand that people can trust and relay on, and you can be sure that your company will generate a stronger consumer base and loyal customers who will pass on your company name and products like wildfire. Customers don't like to just buy products, they enjoy the story. Make sure your company has a good story to tell, and let your customers enjoy it over a nice tall glass of milk and chocolate chip cookies.

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