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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