When It Comes to Business Partners, Knowledge is Power

When you become a Coaching for CEOs client, we will talk about your business and learn all we can to help it grow. The more we know about you and your business, the better position we will be in to help you put together the best board of directors you can.

We will want to know your POS:

• Production: How many clients do you currently serve?
• Offering: What services or products do you offer?
• Sources: Who are your ideal clients?

Without knowing your strengths and weaknesses and what you need to reach your goals, it’s hard for us to help. We will also need a baseline of where your business is now so we can chart a course for you to grow. Your business partners should also know your POS. If not, they won’t know which of their clients and connections are a good fit for you.

With the right knowledge, your business partners will be empowered to help you.

Production

We’d like to know how many clients you have and your capacity to serve more. You may want fewer new clients who buy more from you or you might be better served by diversifying your clients so there are more of them, but they buy less.

How much growth do you want and how fast do you want to grow? Companies can fail because they lack customers or can’t cope with fast growth and their service and reputation suffer. Your competitors could take advantage of the situation and take your unhappy customers away.

Offering

No one can help your business if they don’t know what you do. Depending on what you do, one of your possible business partners may be a great match, while another may not be much help. Ideally, you find someone who is well connected to the people or businesses you want to serve but they’re not competing against you.

Your business may be very local, have clients in this region of the country, or nationwide. A business making or selling something fairly simple and inexpensive will have a client base much different than if you are selling a product that is complex and expensive. Do you sell directly to users or through distributors?

Service providers face similar issues. A business selling home cleaning services or lawn maintenance is much different from one offering accounting or legal services to business clients. Is your service limited to a geographic area, or can you provide it anywhere thanks to telephones and the internet?

Sources

Your ideal clients could be individuals, small or large businesses, institutions, nonprofits, or government agencies. They might be in the area or within a five-hour drive. You may seek well-off families with considerable disposable income, businesses willing to spend money on you to save more money by cutting one of their costs, religious organizations looking to grow their membership, or car repair shops looking for more customers. There’s no potential customer out of reach with the right board members.

Get the Help Your Business Needs

If you want to learn more about how to leverage your relationships with business partners and grow your business, fill out my contact form and attend one of my online seminars. Let’s start the conversation about how we can help ourselves and others.