Growing a business/looking for partner(7 Posts)
My partner runs a damp proofing business and has done for the last few years, its successful however he keeps getting to the same point and doesn't seem to be able to take the business further in terms of growth.
Currently he has two guys working for him and they are booked up months in advance which is great.
He quotes all of the work himself but doesn't have time to chase up the quotes and convert them into work so he just waits for them to come back into him which means he is losing out on a lot of work.
He is a tradesman and doesn't have the business mind that he needs to take his business forward so he has been looking for a partner, someone to invest and have the business brains to help the business and also someone who is able to sell!
Those who have gone into business with a partner, how did you find a business partner?
Has anyone used a business mentor or consultancy to grow their business?
Unfortunately if your Dp doesn't have a business brain he's unlikely to move forward without help.
You can buy business mentors- business coaches.
There used to be a government scheme that was around £600pa for this kind of support with a business advisor but I think it may have been stopped.
Going into a partnership is very tricky. For a start both partners have to invest and decide on how much % they own of the business and how much salary they will take.
People need to be compatible with clearly defined roles. Most people I know who are partners have known the other person in an employment role beforehand.
Why can't your DP employ a PA or secretary to do what sounds like admin- responding to quotes, doing paperwork etc.
Also tbh people don't want someone to do 'sales' - let him do the visits & price up but pa do all the communication and chasing up etc
Thanks for your responses. I will look into that government scheme just in case it's something they still offer or see whether there is something similar available.
We did touch upon having an office assistant or administrator to take on all the paper work and organise him but during winter he struggles to fin the time to train them although he has given this more thought recently so I suspect this maybe the easier solution in the short term. We were unsure what duties she/he would be able to take on but having looked at some CV's last night the role can be quite varied so I feel this may be the best way forward now and then see how the business grows once he isn't having to do all the paperwork himself.
I was sceptical about him taking on a partner that he doesn't know but he couldn't see any other way of expanding, he felt he needed someone with ideas of growth etc although perhaps what he needs is to have more time for him to implement the changes needed!
I've done this sort of Consultancy before but it is the kind of thing a good PA with some Sales experience should be able to do for much less money.
I agree with above comments. Let your DH go out and be the face of the business, do the quotes etc and then have someone decent in the office following up quotes,, invoicing in a timely manner, handle all compliance returns etc in a part-time role.
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