The importance of partnerships in Business

So, I just had a conversation with two great colleagues and friends of mine about them possibly joining this project either as business partners or business/product providers.

The reasoning behind this is simple: No great business, no great company has ever been conceived by only one person.

As a matter of fact, no great entrepreneur, professional, athlete, politician, investor or alike has ever reached the massive success they did without help.

I am not a super social person and have had difficulties building friendships or being in social events. But when I build relationships, I build them to last, with much love so they last forever. In business, the same occurs.

While I’ve not had any partners, I’ve witnessed great examples of people coming together to create and give life to a vision, an idea, or a project.

Take Warren Buffett and Charlie Munger for example. Warren Buffett and Charlie Munger teamed up in a pretty cool way.

Back in the late 1950s, they were introduced by a mutual friend during a dinner in Omaha.

Buffett was already doing well with his own investment thing, and Munger, who was a lawyer but also into investing, really clicked with him.

They both liked the same kind of smart investing strategies, which basically meant buying undervalued companies.

Their big move was with Berkshire Hathaway. It was originally a textile company that wasn’t doing great. Buffett took it over in 1965, and Munger joined him in the 1970s.

Together, they flipped the script and started buying all sorts of other businesses, like insurance and big-name companies.

Munger’s big-picture thinking mixed with Buffett’s careful investing style turned Berkshire Hathaway into this massive, super-successful company. It’s like they were a perfect match for making smart business moves together.

There are tons of other examples like Steve Jobs and Steve Wozniak, Bill Gates, Paul Allen and so much more.

The point being: You need great people on your team to win. But most of all, we all as businesspersons need to look out for one another, we need to build complementary relationships that benefit all of us who are involved in a business or enterprise.

The Finance Guy

So that’s why I’m now partnering with a fellow colleague of mine. He has been in finance for quite some time and has more experience on the corporate side of things than I do, on top of this my man had worked for a multinational corporation for many years so the amount of experience he has is incredible.

One evening he told me he makes financial tools in Excel using macro and other gnarly things, so I decided to make a deal:

He will supply me with the Excel tools, and I will supply customers in exchange for a commission, I think we could make one hell of a team, and making tools for you guys, our beloved users was something that I’ve kept in the back of my mind for quite some time now.

I just haven’t had the time to develop these tools because I am following a plan. Our outline for 2024 is we need to complete Operation Saturn (I’ll discuss this operation in another post) before February and so that’s where my focus has been, not to mention school and my job.

So now I would only need to work on getting the system for payments up and running as well as making the SEO content plans to drive traffic to our soon-to-be tool store here at Montknoll!

The Programmer

There is also another person I want to partner with and that is a close friend of mine who is a programmer and specialized in AI and machine learning.

Now this guy is a freaking genius. I’ve known my friend Pepe since I was in middle school, and he was always the smartest guy in the class so it’s no wonder he took it upon himself to not only study mechatronics but also study physics alongside his mechatronics degree.

He now works as a programmer for a well-respected company and is making good money doing so but he’s also interested in entrepreneurship himself.

When I heard about it oh boy, I jumped because (Spoiler alert) I’m thinking of developing a platform and his expertise would be crucial to making this come true.

So, I asked him if he would be willing to partner up, and to my surprise he said yes!

In the future, once this site is making some actual money, I will start planning out the platform and I will pitch the idea to him to get some feedback and move into more serious talks about forming an actual company.

Then again, I don’t want to bother him too much with this right now because like I said, it’s just an idea (for now) and we first need to figure out how to properly monetize this site and get more users to visit and share our content.

Our aim with Partnerships

I’m excited about this outlook and even if we decide to be by ourselves, it’s nice to know that well, I know people that are willing to work with me on this project.

My main aim ultimately is to make us all win.

The Jewish people I’ve heard have this same mentality “When one Jew makes money 5 other Jews make money.”

Well, no wonder they are the most successful ethnicity on the planet, this is admirable, and it is a philosophy that if everyone followed, I am sure as heck it would not only make everyone richer but also make the world a better place.

Will these current and future partnerships work? I don’t know, I sure hope we make a great team but only time will tell all we can do is keep working, be honest, and build great relationships that foment effective cooperation.

Bottom Line

Ultimately, we all have dreams and ambitions and if there is one piece of advice that would want to share with you beloved reader is this: Team up with people who complement you and your lack of certain skills and most importantly: Make sure these are reliable, honest, and hard-working people.

You form a great team; the world is yours.

And even If things don’t work out this will serve as an experience to not make the same mistakes in the future, we should always try to either succeed in building business relationships or at the very least end them in the most honest and honorable way possible.

This is a lesson my great mentor who is my boss and Founder of the company I currently work at taught me through his sharing stories with us.

Now, we’ll put it into practice.