Code Base Mistakes that Limit Your Business Scaling
Today, I want to share the beauty of engaging with fellow business owners, regardless of their company's stage. Each interaction offers a wealth of diverse stories and experiences. I enjoy hearing about their paths to success, the reasons behind their current positions, and the frequency of their setbacks. It's a privilege to participate in their success stories, understand the driving forces behind their current positions, and appreciate the resilience put into every story of struggle and failure.
Revolutionizing Entrepreneurship: A Unique Approach for Success
Beyond well-known figures like Garee Wee, Dave Ramsey, Grant Cardone, and Ruby Asabor (the list is extensive), there is a group of entrepreneurs making waves away from the camera. They're shaping the industry with their unique approaches, often steering clear of social media and keeping their challenges private.
This hidden side offers a distinct perspective and a chance to discover unconventional viewpoints. It's an opportunity to learn beyond the usual narratives, away from the repetition often found in mainstream circles.
Unlocking Potential Through Venture Building
Recently, I had a conversation with a successful entrepreneur who has managed multiple businesses, including a software company, since 2005. He shared the struggle of finding the right partner for over a decade without luck. Despite hiring freelancers and agencies, the missing element was a sense of responsibility.
What caught his interest during our discussion was the concept of venture building. He found it intriguing, especially since, at Tech387, we've tailored it to suit businesses at any stage, even well-established ones like his.
In our discussions, I discovered that he's shifted focus from innovation to investing and acquiring companies. Curiosity led him to reach out because one of his companies faces scaling challenges. He was exploring a different approach, considering a model where, instead of direct payment, we receive equity and royalties for our tech partnership. He wasn't aware that finding partners like him was precisely our intended strategy.
After I confirmed the chosen approach, he found it hard to believe, so I emphasized that he didn't need to pay anything upfront. We can enter as strategic partners, and as a trust-building measure, we're committed to covering all costs if we don't meet our agreed-upon goals.
Long story short, we signed the agreement. As you are listening to this story, in a few months, the product will likely be in a much better state and performing significantly better than before.
Exploring a New Approach: Equity Partnerships for Scalability
This example struck me, highlighting a vital aspect of any business: the lack of accountability for mistakes is causing many businesses to lose money. To scale up any online product, you need a reliable platform that works and meets expectations.
Based on my personal experience and the experience our partners had, I would suggest that company owners who are facing limitations and hindering growth with their current system start looking for equity partners. Agreeing on a fair royalty share that satisfies both parties will be beneficial.
Both sides can meet these expectations, and if the business is healthy and well-performing, the service-side investment will be satisfied in due time. This requires both parties to deliver to create a successful story.
If you have any question, or need any help feel free to reach out to me via email: email@example.com