How to attract a partner to help run my business?
Question by Onyx Rayne: How to attract a partner to help run my business?
I have a small shop in Virginia making screen printed t-shirts, signs, business cards, vinyl car decals and magnets, etc. I’m a graphic designer and screen printer.
My goal for the business is to do both orders out of the shop and run a t-shirt website.
I’ve got all of the equipment (spent my savings) the knowledge and the space. Problem is I don’t have time to both run down sales leads and do the production aspect as well as build and promote the website. I’m currently the graphic designer, webmaster, printer, vinyl cutter and applier, cleanup girl, receptionist, sales force… etc…
I’m barely squeaking by (or NOT squeaking by as I had a car repair that put me currently 2 months late on rent as of the 15th…) and I don’t know what to do. My marriage is falling apart because I’m always at the shop. I had to go back to stripping (did it in college and quit after) just to try and get current on rent. I hate it. (Don’t knock me though it gets the car payment paid…)
I can’t afford to hire employees because I won’t be able to pay them for the first month or two until I get caught up. I know that if I had extra hands, I could do this! I just don’t…
So how do I recruit a business partner that doesn’t mind eating ramen noodles with me until the business can be worked enough to take off???
I want to attract a competent and dedicated partner that will work as hard as me knowing that the reward IS coming, if we work hard together.I can DO this, I can sell, sell, sell or I can produce great work, I just can’t do both alone…
All ideas welcome!
In terms of putting together a business plan, I had a GREAT one a year ago when I started this business, but things haven’t quite worked out as planned… Investments fell through, and the space that I was sharing for 750 a month suddenly shot up to 1500 a month when the other person in the space left because HER business failed.
I’d LOVE to be able to focus on just one thing, but if I stop dancing, the bills just aren’t going to get paid… I love the idea of college age interns helping me out… if I could at LEAST get them doing the little things that tend to eat time then maybe I’d have time to do things like write a business plan lol!
I’ll check it out!
Keep the answers coming, please!
As for my husband, he’s in the Navy, and although he doesn’t really help when he’s off work, i feel bad asking him because he has a “real job…” my business is supposed to be MY job and it’s not really fair to ask him to do his job and mine too… I was “partnered” with someone in that we were sharing the same space until November, and she moved out on November 1st without warning because she couldn’t make rent. Because we’re both on the lease I ended up stuck with the whole bill. That’s when things got really difficult.
Best answer:
Answer by amontef
Hi. I sympathize with your situation and commend your desire and fortitude.
I know how hard is to find, not only a dedicated, competent person, but someone who is loyal and honest as well, and does not rip you off too.
This person would have to be someone you can trust to be alone in the shop while you are out selling, etc.
Do you have any family or relatives that would be interested in helping you out, maybe not as a partner per say. Sometimes the word partner scares people away, because they always envision having to dump money into something.
If no family or relatives, have you considered visiting a local college or university? You can see if they offer an intern program, maybe a business class student or graphic artist. etc. can assist you.
Hope this helps! Sounds like you have a great niche market.
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Comments
First, you will need a business plan, Which should Explain:
• Objectives
• Budget
• Goals
• Assets
Marketing Plan
A detailed explanation of your sales strategy, pricing plan, proposed advertising and promotion activities, and product or service’s benefits.
Management Plan
An outline of your business’s legal structure and management resources, including your internal management team, external management resources, and human resources needs.
Operating Plan
A description of your business’s physical location, facilities and equipment, kinds of employees needed, inventory requirements and suppliers, and any other applicable operating details, such as a description of the manufacturing process.
Financial Plan
A description of your funding requirements, your detailed financial statements, and a financial statement analysis.
Appendices And Exhibits
Any additional information that will help establish the credibility of your business idea, such as marketing studies, photographs of your product, and/or contracts or other legal agreements pertinent to your business.
Market Analysis
An examination of the primary target market for your product or service, including geographic location, demographics, your target market’s needs and how these needs are being met currently.
After writing your plan, You may want a website,
Wix.com
webs.com
http://www.weebly.com
You be a graphics designer will help you, Im a Computer Programer.
Ideas: You could prosper by starting a clothing line, T-shirts, Jeans, Shirts, Have a clothing store in the back of you place, Name ideas could be, Trendz, Fade Style, Mad Fashions, Just Brain storm.
Next you have to focus on your marrige, Give more time to it, And rebuild it.
You’re in a tough spot. Most small businesses fall into this trap. As things get tough, you work harder and find other ways to fill in the hole. A business is supposed to make you money, not take all your time.
Owens, K is exactly right about what you need. Most people don’t ever look at a business that way, but it’s the only way to go.
Sounds like you have two businesses going right now. You need to cut the cord on one of them and concentrate on the other.
well how to attract a buis partner is in part makin them relize the reward potenial that could come of this.on a sour note sweetpea,partening up is not always the answer.i found that a partner could end up costing you rather than help you.if you want this to take off as planed then you are going to have to focus on one thing.buisness is a gamble as you know.not saying put all your eggs in one basket.and as for your better half,does he help?cause this buisness is going to support him to im guessing.get help see how they work out and if they are hard working and what your looking for then ask if they would join you in a partnership.good luck
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