Growing Your Small Business

Edmiston group, business strategy
Trusted Business Alliances Make for a Smart Strategy

It all started with an idea, a thought, or an “I can do it better.” That was the first step you took as you began your venture as a small business owner. It takes a lot of courage tied in with many other attributes necessary to start run and grow a small business. Often times I see people who have all of those qualities and are able to get their business up and running but struggle with trying to answer the question of, “Why is my business not growing”?

To best answer this question for my own business, I had to take the time away from my business to look at it from an outside point of view to see where my strengths AND weaknesses were. We can also turn to colleagues and experts in the field to attain advice, wisdom, and ideas for the growth we desire as business owners. See how creating business alliances can help expand your business.

The first and foremost thing to remember as a business owner is that you can’t do everything. This is often one of the hardest concepts to wrap your mind around, because after all, you are the one that built your business and yourself to where they are now. Having the mindset that you are working by yourself for yourself with yourself will only hold you back in the long run.

I have found that forming a business alliance with trusted colleagues to be beneficial for growing my business. But, I would caution you to align your business with trusted partners. Any expert will also tell you that forming a business alliance is always a risk. You are entrusting that a colleague will represent your company the way you want it to be viewed and that they won’t tarnish your reputation. That being said, when the right partnerships are formed, it can completely change the dynamic of what you are able to offer making your company more diverse and efficient. For that reason it is EXTREMELY important to do your homework before you jump into a business alliance relationship to make sure that it is right for you and your company.

In order to grow – identify tasks that can be outsourced until you can grow to the point of hiring staff. Some examples can include: administrative support, bookkeeping, technology support, etc.

If you have trusted advisors, transparency is a must in to obtain a true financial picture of your company, what is working and things that need to change. When you’re busy working in your business it is often difficult to step back and work on your business. By utilizing a colleague, or consultant to look at your business, they may be able to see something that you don’t, provide you with contacts, funds and programs that you didn’t have the knowledge of, or access to yourself.

As your company grows you may find that the business alliances may change. With these changes may come additional opportunities that didn’t exist 6 or 12 months ago. The keys to success are in your hands, it is how you use them that will determine the growth and success of your company.

About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh based marketing consulting firm providing senior level marketing management services to businesses and non-profit organizations on a short or long term basis. Core areas of service are business development, marketing, strategic planning and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business growth.

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