The Worth of Partnership in Business

Why own 100% of 10 dollar business when you can own 50% of a 1000 dollars business. Two friends, Isio and Bella both made & sold the same type of dresses. Very beautiful, trendy & fashionable. They had the best brands around the city. In one day Isio could make 10 new sets of […] The post The Worth of Partnership in Business appeared first on SME Digest!.

Business Sep 5, 2023 0 95 Add to Reading List

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Advertise on doacWeb

WhatsApp: 09031633831

To reach more people from NGN1,000 now!

INCREASE YOUR SALES WITH NGN1,000 TODAY!

Advertise on doacWeb

WhatsApp: 09031633831

To reach more people from NGN1,000 now!

Why own 100% of 10 dollar business when you can own 50% of a 1000 dollars business.

Two friends, Isio and Bella both made & sold the same type of dresses. Very beautiful, trendy & fashionable. They had the best brands around the city.

In one day Isio could make 10 new sets of dresses valued at $100 per dress, but she ends up selling them over a period of 7 days. She was the owner of Isio Fashion House.

While Bella will make 2 pairs on her best day & sells both of them before she’s even done. She owned Bella’s couture.

Bella was a good marketer & sales girl. She could sell a drum of ice to the Eskimos, but she was a bad manufacturer. While Isio was good at Producing but very poor at marketing.

In a week Isio would earn approximately $1000 while Bella earned about $1000 as well because in some days she couldn’t even complete two dresses.

They both struggled running their businesses individually until one day, Bella realized that her weakness in production was Isio’s strength & Isio’s weakness in marketing was her strength.

They both came together & built a new company, Isiobella, which grew to become a leading fashion brand.

While Isio produced about 15 new dresses in a day because she was now maximizing her strength, Bella sold all of them within hours because she was equally focused on her strength.

In a week Isio produces about 100 new dresses & Bella sells them off effortlessly.

Their weekly revenue increased from $1000 each to $10,000.

They both hired employees & mentored them based on their area of expertise & after a few weeks they doubled their weekly revenue to $20,000.

In a month they both went home with over $40,000 dollars each against $4000.

This is what collaboration is all about. Identifying your weakness, maximizing your strengths & finding a partner to complement you.

However while it could be difficult to find a honest Isio or Bella around us we should be willing to take some risk, pray for direction & disect potential partners before making decisions.

Which would you prefer. To own part of a Big Pie or all of the very small pie?

By Otto Orondaam

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