20 years ago, I failed in my first business. Being a young and overly optimistic entrepreneur then, it was a big setback to me. The debt that comes along with the business failure eroded my confidence further. To make ends meet, I went back to work as a software trainer.
At that time, my current business partner was looking for a partner in a 3D visualization business. I didn’t understand what he sees in me as a partner.
I do not know much about 3D visualization and have little to offer. In fact, I was in debt after my business failure while he was already a successful businessman.
Nevertheless, we went into the 3D visualization business. 15 years later, we actually set up a second business in interior design and renovation, targeting the high-end market segment.
Looking back now, I can understand why I came under his radar 20 years ago when he was looking for a business partner. Over the years, I have come out with a simple technique to appreciate the value that one can bring into any possible collaboration.
I call this the MYSTIC™ guide.
This is a guide to access what you have to offer, and what you could be looking for in your partner, to complement your shortfall.
M : Money
This is self-explanatory. Funds could be the resource you are offering or after, in your partner selection.
Y :
Let me touch on this later.
S : Skills
This represents all the skills needed in the collaboration, from technical, marketing to project management skills.
T : Time
As we all know, time is a limited resource. One may have all the elements needed in the partnership but may not have the time to bring it to fruition.
I : Interests
While one may have the ability to do certain task, doesn’t mean one has the passion to do it. Without passion, quality and efficiency may be compromised. Collaboration could occur where partners complement each other by undertaking tasks they are passionate about.
C : Contacts
Without a doubt, contacts are a valuable resource in most collaboration.
Now, what about the "Y"?
"Y" represents You
Without Money, Time, Interests or Contacts, “You” could actually be the reason for your potential partner's choice. One may select their partners simply because they like or trust them.
You may have the charisma that is appealing to them or your sheer presence simply brings out the best in them.
So if you think you have nothing to offer, think again, think MYSTIC™.