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Before launching my first business in 2017, I made a decision that would shape its success. I turned down several executive positions. While these were economically attractive, they did not resonate with my core values, especially my commitment to ethical business practices.
It’s common for entrepreneurs to jump at the first opportunity that comes their way, usually due to financial incentives. Years pass quickly, and even with all the glorious things, many remain unfulfilled and miserable.
Alternative paths exist. Tap into your passions, core values, and strengths and be selective about opportunities that align with them. What about the rest? It’s easy. Just outsource it to a trusted partner.
This approach helped shape my journey as a more fulfilling and successful entrepreneur. This means I get to challenge myself day in and day out in very different industries without ever feeling like I’m actually ‘working’, the latter always being my ultimate goal.
Here are two strategies that have helped me in my journey.
Related: 3 Tips for Building Strong Partnerships
1. Resist unsuitable opportunities — a test of your entrepreneurial resolve.
For new entrepreneurs, the prospect of immediate success and financial returns is attractive. These situations come up from time to time, but the real challenge is resisting opportunities that don’t align with your passions, core values, and strengths.
This happened to me before I launched my first business in 2017. First was the element of passion and core values.
The years I spent studying literature and music helped shape my focus to only do what I am passionate about. This passion, along with some business practices that did not meet my ethical standards, led me to turn down a high-paying executive position. This was the hardest but best decision I made in my entrepreneurial journey.
Before you jump at an attractive opportunity, stop and think. Do you have the necessary knowledge and skills? And more importantly, does it resonate with your passions and ethics? Pursuing a venture that doesn’t align with your passions, core values, and strengths usually results in failure.
Instead, focus on developing your unique talents. Be open to opportunities that allow you to utilize your interests and the skills you’ve developed over time. This approach increases your chances of success and leads to a more fulfilling career.
Building a business that reflects who you really are: your interests, skills, and values will not only increase your chances of success, but will also bring you greater job satisfaction, increased productivity, higher quality results, and higher profitability. It leads to At some point your interests may change directions, and as long as you’ve built a solid business around it, you can pivot away from your role and pursue other ventures. This could mean selling your business, handing over leadership to someone else, or simply taking on a new role within your company.
That said, it all depends on the presence of solid business partners, which leads to the next point.
Related: How to leverage strategic partnerships for more explosive growth
2. Thoroughly pursue the ideal business partner
Outsourcing is a strategic initiative for small and medium-sized businesses. Rather than trying to juggle all tasks, it’s better to find a partner who excels in areas other than your own expertise and interests.
Identify tasks that are outside of your wheelhouse, such as complex IT challenges or social media marketing. Find people who specialize in these areas and are passionate about them. Their expertise and enthusiasm ensure superior quality and commitment.
In our journey so far, we’ve learned that finding the right partner is much more than just matching skillsets. It’s about building relationships with individuals and organizations that deeply resonate with your business vision and core values. This alignment is at the heart of building a partnership that not only works but is truly synergistic.
It’s like a well-organized band, where each member’s unique style and expertise contributes to a strong performance. When partners share your vision, they bring more than just skills. They bring a shared commitment to your business goals, a mutual understanding of what you stand for, and an unwavering dedication to advancing the collective mission.
This synergy is what differentiates a successful business from a merely operational business. It’s about building networks where each component amplifies the others and leads to exponential growth, innovation, and success. This is a lesson I cherish, and a strategy I advocate for entrepreneurs looking to not just build a business, but a legacy.
Also, this approach goes beyond just delegation, it’s about optimization. When tasks are managed by experts, they are performed more efficiently, increasing productivity, reducing costs, and improving quality.
Related: How to build B2B partnerships that grow your business
With the right partner, you can focus on what you do best: increase productivity and job satisfaction. Seeking the right partnership can greatly increase your business success. Combining your unique strengths with those of your partners creates a robust, dynamic business that is well-equipped to succeed in a competitive marketplace.
It’s important for budding entrepreneurs to resist the temptation to take advantage of every opportunity and instead focus on the areas in which they excel. Other aspects are delegated to individuals with passion and skill in the field.
This strategy leads to a streamlined and efficient business that leverages core competencies. Harness the power of selective collaboration and watch entrepreneurial businesses succeed based on passion and expertise.
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