Money, they say is not everything, yet we know that money answereth “all” things according to the Holy Book.
Most people often use not having money as an excuse for not being able to start or grow their business. Capital is not necessarily money. I prefer to see Capital as leverage or key advantage a would-be entrepreneur can deploy to start their business.
This article will identify the types of friends you should have as an entrepreneur. To succeed in life, you don’t have to directly pay for everything you need.
When I say not having to pay, I mean not having to pay with cash. We can get access to a lot of critical and high value resource or asset without having to part with cash.
Goodwill is a great way to advance in career or business in a consistent manner. Using goodwill is not the same as manipulation or taking advantage of people around you.
Goodwill is built around relationships, these relationships should be mutually beneficial if not, it will not last.
It is important to be deliberate in our friendship or the type of relationships we build with the people that life gives us the opportunity to meet in our day to day interaction.
So, what type of friends should I have as an entrepreneur?
Financial literacy is a must for any successful business owner. There is a lot you need to know about money, where to access funds, when to access funds, what to do with the funds, how to protect or increase the value of the funds, who to talk to etc. even if you already have all the funds you need to start your business. Book keeping is a critical component of any successful business. Tax issues, Credit Management, Loan and Investment, Cost Management and Waste Prevention and all the many complex Issues bothering on Sound Financial Management.
When you have an accountant as a friend and depending on how well you nurture that relationship, you can leverage on their skill to have access to either free or highly discounted professional financial services.
No matter how careful you are, as you progress in life the likelihood of making errors are bound to increase either with the government agencies, business partners, employees or vendors you need a lawyer in your life.
Having access to sound legal advice can save a lot of problem for yourself or business. “ignorance is not an excuse in law” so for you not to run into avoidable issues you need a lawyer to help you navigate the murky waters of legal intricacies and having a friend who won’t change you an arm and a leg professional fee is a good way to enjoy the valuable protection that comes from having legal backing.
The future is digital, you either adapt or die literarily!
Having access to people that can help you maximise the use of information technology (IT) can go a long way in improving your business efficiency and profitability. There are a lot of tools and resource that can improve the way you conduct your business. Knowing what works best and the opportunities out there can go a long way in transforming your business.
Health is wealth!
Dead people don’t do business. Our health is key in our quest for a successful career or business. Having a good relationship with a doctor-friend can save your life in many ways. You have access to convenient consultation which often comes free due to the existing relationship you both enjoy. There is a trust and a good deal of pleasant history that makes it easy to be open about your wealth status.
I call them money bags. I don’t know the reservation or criticism you might have against money, but I do know a lot of good you can do with money. You could either have few friends with a lot of cash to spare or a lot of friends with decent sum to spare. If they understand what your business is about and you enjoy a good history of trust, it wouldn’t be difficult to get them to invest in your business when the situation demands it.
It’s all about leverage, don’t be too proud to ask for help and don’t be too selfish not to offer something valuable in return. Like I wrote in one of my articles on Why your friends may not want to invest in your business. When you have earned the trust of your friends; they won’t hesitate to fund your business or project.
Most people will rather invest in a stranger with a clear-cut plan /strategy than on an acquaintance without a clue about what they want to do.
So, pick up your phone and take a moment to look through your contact list. Ask yourself, how many Accountants, Doctors, Lawyers, IT Professionals and Financially Advantaged people do I know?
- How many of them are my friends?
- What do they like about me?
- What leverage (skill, resource, asset etc) do I have that I can use to cultivate and grow my relationship with these types of people?
It is easier than you think, if your objective is for a win-win relationship. Start today to do something about the type of people you have in your life.
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