How big is your team? Or are you feeling a bit alone?
If you have a team of 1, yourself, it can feel a bit lonely. The good news is that, if you have suppliers, customers, strategic alliances and network groups that you belong to, you have a much bigger team than you might have thought.
Key team members are anyone who can directly affect the level of business you can take on and manage.
Suppliers, for instance, can make a big difference to your success. One example is of one of my clients who has a great relationship with a supplier. The supplier knows that they have a continuous set of sales throughout the year as the products are Pre ordered/specified. That way, the supplier can set a lower price for a bulk order. My client then pays monthly and can control Cashflow, then get paid for his products before paying for the supplied parts. The budgeting can be forecast and the overall costs are lower than they would have been.
Working closely and openly with clients also makes for a strong complimentary relationship. One of my clients provides a service for his customers in an open way – shows the costs and adds the agreed level of profit margin. The trust has grown to a level over the years that my client can do any work and just put in the invoice, knowing it will be paid, and his customer knows they are getting good value for a service that keeps their business profitable.
Strategic Alliances can also be very powerful. 1 + 1 = 3. When two businesses that could be considered competitors join forces, they can win bigger projects. I have seen two landscapers win a large contract that they could not have won individually. Better to have 50% of a really profitable job rather than 100% of nothing.
So, when you think about your business now, how big is your team? …and what can a you do to work smarter with your extended team?
If you would like to find out how to connect to your bigger team, call me on 07766 080770 or email alex@alexpetty.biz
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