Partners: You May Need A Partner

Scott Costello All, Blog, Featured Leave a Comment

About two years ago I was stammering along trying to get some momentum going with my marketing to bring in phone calls.  With my limited time I was really having trouble answering the phone when a lead would call.  I’d return the calls when I could, usually at lunch or between 6:30pm and 8pm.  I quickly fell behind and sometimes took days to call a lead back.  This is not a good strategy and hurts your reputation with the lead right from the beginning.  You are the guy who takes 3 days to return a phone call in their mind.

With the help of my mentor/coach we realized what I needed was a partner.  It just so happened that another person in my mastermind group was also struggling, but not because he had a lack of time, he had limited funds and wasn’t able to market like he needed too.  We complimented each other well and after talking for a bit we seemed like a good match to enter into a partnership.

Do you need a partner?

It’s a simple question to ask yourself, but a hard one to really answer.  If you can identify tasks that you just are not good at (negotiating, marketing,etc..) or that you just don’t have time for then a partnership might work for you.  Here are some other reasons why you might need a partner…

  • Lack of money to spend on marketing
  • Lack of time
  • Have a 9to5 Job that is getting in the way
  • Want to cover more areas (Having my partner allows me to look for properties in central new jersey because he lives down in that area)
Some reasons you shouldn’t get a partner…
  • You are lazy (not kidding, because you would make a bad partner)
  • You’ll have to split all your profits (if you are greedy, then no partner for you)
  • You don’t work well with others
  • You can handle all the tasks involved in investing by yourself (in this case if you want to grow your business you would hire help, not get a partner)
If you believe that having a partner will help if you are limited in one area or another, take a step back and ask yourself…”am I really limited or do I just need to work harder?”  Many times you just have to put your head down and charge through until you succeed.  Learning something new always takes time before you know it well.
Partners are a great way to keep yourself accountable.  A good partner will help motivate you as well as take you to task when you aren’t doing what you should be doing.  Even if you have determined you need a partner, the hard part is finding the right person to be that partner.   I will go over how to find a good partner in my next post.


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