A silent business partner is not a human nor a robot

Your Partner in Business

By ellenjharris | Blog

Nov 24
Silent Business Partner

 Your Business Partner

How to create a business partner, manage your cash flow, remain solvent while gaining a thriving business

Imagine a business partner that is not a human or a robot. Think of this partner as a unit of business you create. That’s right a unit of business you create.

A business has no human attributes and is a legal entity. As a business owner, you have the authority to create units that exhibit the same characteristics. The unit you create is neither illegal nor legal. It is a unit of information every well run business should have.

The unit is like a navigator. When it is used to keep track of daily operations and used every day the business owner is perceived as smart, savvy and knowledgeable about how a business is organized and managed.

  • Examine the tactics almost all businesses use to establish order. This is very much like cosmetics in that tactics cover the surface and not critical areas found under the hood.
  • Most noteworthy about this silent business partner is this unit forces you to focus on your cash flow. As a result of your focus on cash flow, you uncover the extra sense of control.
  • It should surprise you to learn that today many ‘experts’ say this silent partner entity is not essential. Furthermore, without a silent business partner, you will flounder and fail.

5 years ago we worked with a startup who said no to a silent business partner. The startup owner’s vision of a million dollar startup was quite real to the owner. Especially relevant is how quickly the owner ‘crashed and burned through what little cash flow there was.

Rather than quit, the owner dug out of the hole while rebuilding equity in the startup. Consequently, it was a painful lesson in value. The silent partner taught the value of maintaining a realistic vision of what is possible.

Your silent business partner is your business plan. Learn why we use a silent partner. You can too with a business planning tool.

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About the Author

Ellen J Harris leads the Business-Accelerated Company. The firm is a C corporation specializing in Intellectual Property, Intellectual Capital and Intellectual Revenue Assets. Harris is a frequent guest on Blog Talk Radio, contributes to the NYU School of Entrepreneurship as a Business Consultant Coach in the $300K Entrepreneur Challenge and serves on the Advisory Board at the Lubin School of Business at Pace University. In her current portfolio, Harris leads three local U.S. Startups and one international startup launching in the second half of 2018. She serves small businesses in a variety of industries. Harris helps business owners maintain their compliance with federal requirements and most recently compliance with the European Union's General Data Protection Regulation.

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