As a business owner we have to identify what we have that is of value. Don’t waste time having a “pity party”, lamenting the things that you don’t have. Today, identify the one thing that you have that is of most value; analyze it and build upon that value. The secret to growing a business is the ability to trade what you have of value for something that you need.
Many small business owners place limitations on themselves. During the course of growing a business they discover that they lack something, be it money, time, people, computer knowledge, etc. which becomes a roadblock for moving forward.
We think that the resources available to us are only those that are in our possession, we don’t go outside of ourselves to look for them. We need to understand the process of trading our resources to those that need them so we can obtain those that we need.
I believe that every business, organization or person you come in contact with could potentially be a source for something you need. No, they just won’t give it to you; you have to offer them something that they value.
Creativity is the key word in this process. Creatively look for sources that have, in abundance, those things that you need. Creatively refram what you have to maximize your value to others.
Finding resource centers requires thought and preparation. They may include:
- Those who have a vested interest in your success.
- Strategic partners
- Owners you don’t know but that possess the resource you need
- Your competition
In each of these cases trading resources will benefit both parties but it may not be readily seen. That is where the work needs to be done to convince a potential resource partner to trade with you. The goal is to present your story in such a way that it benefits both parties to combine (trade) resources.
I have presented only a brief overview of this process. There is always the fear factor to overcome when venturing out in a new direction, but many good things can happen when you offer something of value to others.
Growing a business requires a lot of “out of the box” thinking. Don’t become so set in your ways that you won’t share your abundance in exchange for resources you need. As always, having a trusted advisor who walks with you is imperative to future growth and profitability.
Nick J. Petra CFP