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Small Business Resources
Hello Warren, I am an Artisan, creating jewellery from glass & lampwork, glass beads, and gems & minerals. I however do not have as much of a head for numbers and the business end of things as I do the design and production end of things. I've taken business courses, and done well, but when it comes to putting it into practice, I've floundered. Therefore, I'm thinking that I need to find a business partner with a skill and passion for that end of the business. So... How do I do that? Is there something else or something better that I should do? Thank you for your time and input!
Hello Michelle, there are a few things to consider here... 1) Is it truly an "ability" challenge or an attitudinal one? Let me explain. If I told you it was 30 degrees Celsius outside and showed you a picture of a t-shirt and shorts; then one of pants and a sweater; then one of a parka and boots, would you be able to choose the appropriate clothing? If so, then you know that numbers tell a story and you have the skill to interpret numbers and make decisions based on what they are telling you. You just haven't yet learned what the numbers are telling you. If you have someone else, like a qualified bookkeeper, prepare your numbers, you just need to learn to interpret them and make decisions. It may be that because you have defined yourself as someone who doesn't have "much of a head for numbers", you have become intimidated by them. You might pick up something like "Financial Statements for Dummies". 2) If you remain convinced that you need someone else, either because of skill or because you feel the business is best served by having you focus on production and someone else on financials, then is partnership the answer? First, get very clear on what you specifically need. I do applaud you and other entrepreneurs who have the self-awareness to recognize one's own current limitations. However, that doesn't mean partnership is necessarily the answer. Partnership requires more than complementary skills. It requires you have the same vision, similar values in business, the same work ethic, similar financial goals, clarity of individual and collective responsibilities and excellent communication. The fact that you need help doesn't mean that you have to give up ownership in your business to get it. If you have someone who fits all the criteria and is prepared to invest some cash into your business, then go ahead. Otherwise, you may only need a good accountant or bookkeeper (or coach) to help you. Good luck! Warren
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