The Good, The Bad, and The Ugly

On this episode of The Poster Boy Podcast, I break down what have a business partner is really like. I also discuss the importance of choosing the right partner b/c they bring something you can't hire to the table. I share examples of my own personal failed partnerships and how to avoid my mistakes. If you're someone who is considering bringing on a business partner, this is an absolute must listen!

Business Partnerships

We dive very deep into how opportunities are created, and why they don't always create themself. 

Grab the book: https://linktr.ee/theposterboy Ya, we're on TikTok! https://www.tiktok.com/@the_poster_boy

"Opportunities don't happen, you create them." - Chris Grosser

So many people want the "get rich quick" life. For every newsworthy business, there are hundreds of young entrepreneurs thinking about giving up. Don't let that be you.

Amazon started with books and CDs. Facebook and Google started in a dorm room. Airbnb started with air mattresses on a terrible website. UTP started out of the trunk of a car as a side business while waiting tables. So many people want the "get rich quick" life. For every newsworthy business, there are hundreds of young entrepreneurs thinking about giving up. Don't let that be you. <h2>Where are you starting?</h2>If this is your second or third company, you know already know what it takes to start small and grow.&nbsp; Is this your first business? The only resource you may have is time, energy, and a network of supporters. And that's okay. Somewhere in a business plan or a spreadsheet, you've mapped out what the next three to five years look like, and that's good. I bet it's much bigger than today.&nbsp; Some businesses began with a seed round or patiently saved cash cautiously invested. Whatever your situation is, the company you own today won't be a fraction of its size in the next few years. And we're not just talking cash flow. <h2>How to measure the size of your business</h2>When you own a business, you invest time, money, and energy to get market share, growth, and profit (among other things.) Time is finite&nbsp;- you only get 24 hours in a day. Where will you spend them? Money burns fast&nbsp;- where are you going to invest it? And, what are you doing with the returns? Energy is everything&nbsp;- the mental burden and physical exhaustion of events, clients, vendors, employees, finances, legal matters, customer service, marketing, strategy... and everything else you put into your business can be taxing if you don't know how to prioritize and execute.&nbsp; Grab the book: https://linktr.ee/theposterboy Ya, we're on TikTok! https://www.tiktok.com/@the_poster_boy

A big business starts small. - Richard Branson

Just do the work, and the results will handle themselves. – Tony Gaskins

Do you remember being 12 or 13, and your mother or father would say things that you didn't quite understand? Like "Those are just Growing Pains," or "you'll know when you grow up," and "just wait until you're a parent." Keep reading: https://www.theposterboybook.com/post/trust-the-process Grab the book: https://linktr.ee/theposterboy Ya, we're on TikTok! https://www.tiktok.com/@the_poster_boy

Trust the process. Your time is coming.

What do you do when you have an unhappy customer?  No one likes an unhappy customer. 

Sometimes conversations get emotional; maybe you made a colossal mistake or dropped the ball. At this moment, it's probably the most stressful thing you're dealing with. So what do you do when a customer is unhappy? Well, this is when you start to learn character and integrity. You just have to do the only thing you can do, which is: make it right.&nbsp; Keep reading! https://www.theposterboybook.com/post/your-most-unhappy-customers Grab the Book https://linktr.ee/theposterboy

Your most unhappy customers are your greatest source of learning - Bill Gates.

We examine this quote the one and only Tim Ferriss. 

What sets your soul on fire? What sets your soul on fire? We dive deep into this idea and share a few things from our life that get us excited! Grab the BookeBook -&nbsp;&nbsp;<a href="https://storied.app/kindle" rel="noopener noreferrer" target="_blank">https://storied.app/kindle</a>Paperback -&nbsp;&nbsp;<a href="https://storied.app/paperback" rel="noopener noreferrer" target="_blank">https://storied.app/paperback</a>Audio Book!&nbsp;&nbsp;<a href="https://storied.app/audiobook" rel="noopener noreferrer" target="_blank">https://storied.app/audiobook</a>&nbsp;

The question you should be asking isn't, "What do I want?" or "What are my goals?" but "What would excite me?

Let's think about the extreme for a moment. What would happen if you never showed up at your small business ever...

Let's think about the extreme for a moment. What would happen if you never showed up at your small business ever again?&nbsp; What would happen? Are you getting apprehensive?&nbsp; Maybe less extreme - what if you had 1 hour a week that you checked in with your team - it was a power-problem solving event. When you were done, you went back to the other 39 Hours of the week. What would happen? Sounds odd, right? Keep reading! https://www.theposterboybook.com/post/if-your-business-requires-your-presence Grab the BookeBook -&nbsp;&nbsp;<a href="https://storied.app/kindle" rel="noopener noreferrer" target="_blank">https://storied.app/kindle</a>Paperback -&nbsp;&nbsp;<a href="https://storied.app/paperback" rel="noopener noreferrer" target="_blank">https://storied.app/paperback</a>Audio Book!&nbsp;&nbsp;<a href="https://storied.app/audiobook" rel="noopener noreferrer" target="_blank">https://storied.app/audiobook</a>&nbsp;

If your business requires your presence, you don't have a business... you have a job.

Most people think of failure as not making lots of money, but the reality is...

Most people think of failure as not making lots of money, but the reality is that failure means something different to each individual. For me, failure is having a 9 to 5 job because it means I’m sacrificing my freedom. As long as I’m able to pay the bills while maintaining my freedom to be able to go where I want and work when I want, I’m living a successful life. For others though, failure may be losing that 9 to 5 job, because success for them is stability. Keep reading! https://www.theposterboybook.com/post/in-order-to-succeed Grab the BookeBook -&nbsp; <a href="https://storied.app/kindle" rel="noopener noreferrer" target="_blank">https://storied.app/kindle</a>Paperback -&nbsp; <a href="https://storied.app/paperback" rel="noopener noreferrer" target="_blank">https://storied.app/paperback</a>Audio Book!&nbsp; <a href="https://storied.app/audiobook" rel="noopener noreferrer" target="_blank">https://storied.app/audiobook</a>&nbsp;

In order to succeed, your desire for success should be greater than your fear of failure.

The legendary Warren Buffet said it - we happen to agree. But how does this apply to starting a business?

<h3>Strong Words</h3>These are some compelling words from a very successful investor, and his advice has proven to be true in a variety of circumstances.For me personally, while other businesses were being shut down due to the pandemic, mine blossomed because I wasn’t afraid to take advantage of the online market while others were afraid to make a move. My business is based online, and more and more people are finding me there as they switch to a more remote lifestyle.... Read more! https://www.theposterboybook.com/post/be-fearful-when-others-are-greedy ﻿﻿Grab the BookeBook -&nbsp;<a href="https://storied.app/kindle" rel="noopener noreferrer" target="_blank">https://storied.app/kindle</a>Paperback -&nbsp;<a href="https://storied.app/paperback" rel="noopener noreferrer" target="_blank">https://storied.app/paperback</a>Audio Book!&nbsp;<a href="https://storied.app/audiobook" rel="noopener noreferrer" target="_blank">https://storied.app/audiobook</a>&nbsp; Where you can find usThe Poster Boy is a podcast for entrepreneurs and a podcast for small businesses. Our mission is to help young entrepreneurs in small-town America start, grow, and manage 21st-century businesses! Brought to you by&nbsp;<a href="https://utproducts.com/" rel="noopener noreferrer" target="_blank">https://utproducts.com/</a> Let's get connected&nbsp;<a href="https://www.facebook.com/withtheposterboy" rel="noopener noreferrer" target="_blank">https://www.facebook.com/withtheposterboy</a> Learn more about the Poster Boy&nbsp;<a href="https://www.theposterboybook.com/" rel="noopener noreferrer" target="_blank">https://www.theposterboybook.com</a>

“Be fearful when others are greedy, and be greedy when others are fearful.”

Our mission is to help young entrepreneurs in small-town America start, grow, and manage 21st-century businesses!

Your listening to — The Poster Boy Podcast! Our mission is to help young entrepreneurs in small-town America start, grow, and manage 21st-century businesses! The Poster Boy Podcast is brought to you by UTProducts.com Find and follow us wherever you get your podcast! Visit us at theposterboybook.com to grab your copy of the book and learn about our courses at the Poster Boy Academy.&nbsp;

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Drew Prescott

Chad Scott