Ways to Avoid Going It Alone: Partnerships, Employees,
Alliances, and Mentors
by Alice Doyel
Ways to Avoid Going It Alone: Partnerships, Employees,
Alliances, and Mentors
1. Partnerships are often used to create a company
where the owners have complementary business or technical
skills. An owner with disabilities can find partners
with the skills, time, or energy to compensate for his
or her disability needs. The partners may be able-bodied,
or they may be other people with disabilities.
2. Key employees can take on a partnership role in
the business. Although they may not be actual owners
of the business, these employees can serve the same
functions as partners for the owner with disabilities.
3. Partnerships often serve as a means for bringing
needed financial capital into the company. This can
be particularly important for people with disabilities,
whose assets and credit may not be adequate to start
a business.
4. Family businesses are a strategy for those people
with disabilities who have strong family support. Sometimes
these family members are partners in the business, other
times they are employees. In either situation, family
members can provide emotional support and disability
assistance, as well as being productive employees of
the business.
5. Minority ownership is another way that people with
disabilities can become business owners. They provide
skills or assets to a company, which make them valuable
as minority owners. The ownership levels can start at
5% to 10% ownership. This ownership can increase if
the people with disabilities are able to bring more
assets or "sweat equity" to the business. [Note: Legal
guidance should be used to assure that there are exit
strategies for both majority and minority owners.]
6. There are informal partnerships, or alliances,
where individuals from different companies work together
for their mutual benefit. This is often a good strategy
for people with disabilities, who may wish to provide
a variety of services or products but want to limit
the size of the business they own or the number of employees
that they want to manage. These informal partnerships
often become successful, long-term arrangements. There
can also be short term informal partnerships, sometimes
relating to a single business opportunity.
7. Mentors are an excellent way to find expertise and
support for a business. Many small business owners enjoy
helping individuals who are starting out in business.
Their advice can save a company from making serious
mistakes as well as giving the business support and
direction. Mentors need not be business people; they
can be people who are knowledgeable about the types
of products or services your company sells.
Abou the Author
Alice Doyel may be contacted at http://www.boldconsulting.com/
. Alice Doyel is the founder of BOLD Consulting Group:
where she heads the consulting practice specializing
in operations management for small businesses. Also,
she is a national speaker, consultant, and advocate
on self-employment for people with disabilities. Alice
wrote the book, No More Job Interviews! Self-Employment
Strategies for People with Disabilities.
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