Entrepreneurs may find an easier path to success if they develop strategic allies early in their existence. Working with other companies give a business owner extra selling power, extra resources and a more powerful presence. In the event industry, you find a lighting and audio company teaming with a video company to go after the technical contract for a corporation's annual meeting. Separately, they each only represent a piece of the puzzle. Together, they represent the total deal.
An insurance broker that doesn't do wealth management can ally with a wealth manager that doesn't sell insurance, in order to fully service customer needs. They share clients and leads and can pitch business together.
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Business ethics has been a touchy subject over the last decade. Any number of large companies have run afoul of the law due to ethical lapses that extended into illegal territory. Lawyers solicit clients contrary to state ethical directives; pharmaceutical companies wine and dine doctors for their business, insurance agents sell policies to people who don't need them. Ethical problems are everywhere.
Small business people have to resist the easy path of doing business unethically. Paying a kickback may seem like an easy way to gain business, but benefits, if any, are very short term.
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Entrepreneurs encounter obstacles at all stages of their development. Many find that among the early obstacles they face is having to work out of their home. Unable to afford rent, they create a home office and then discover the loneliness, the distractions and the boredom at home.
How have you gotten around these issues? WHat tips or tricks can you offer to those struggling at home?
There was a recent article in the Philadelphia Inquirer documenting the establishment of a large space in Philadelphia where early stage entrepreneurs can come and work. There is a rental cost, but it is fairly minimal. The upside is that the presence of many provokes social networking, idea sharing, brainstorming and virtual advisors.
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