Synergy is the act of working together by two or more people to achieve a common goal. It entails the pulling of resources together by these parties to foster the growth of a business. Synergy usually arises when two persons with different complementary skills cooperate.
For example, when Mr. A, a shoemaker collaborates with Mr. B, a good marketer, the result will be awesomely profitable. When you are in a synergy, you are literally in a partnership. However, synergy in business might be solely monetary, where individuals contribute a certain amount of money to start a business. However, in synergy, startup capital is not always needed by the partners, one might be contributing skill while the other contributes the money.
WHAT YOU SHOULD CONSIDER BEFORE SYNERGIZING WITH ANYONE
- What skill does he or she have that I don’t?: if both of you have the same skill, then it’s not a good partnership, we advise that your business partners should have an augmenting skills .
- Is the person trustworthy?: Always take time to research the lifestyle of the person you will be partnering with. In the mouths of two or more persons testimonies, truth will be established. Going into business is different from going into secret cult, make enough enquires about the person(s) you will be synergizing with from friends. Take leverage of the social media to research the person (s) too. Studies had shown that our social status speaks a lot about our personalities.
- Written agreement: Though it is not mandated by the law as a criterion for going into partnership. It is however very important to have a written and well signed document to back up the partnership, in case of breach of agreement by your partner. The parties are to have copies of this written document (partnership deed), this will help each partners to stay faithful with the operations of the business
HOW TO SHARE THE PROFIT
This is one of the reasons why a written document is needed in business synergy. The scale for sharing the profit or interest should be well stated in the partnership deed.
SUGGESTED BUSINESS YOU CAN DO WITH LITTLE OR NO CAPITAL
- Become a salesperson: As a salesperson, you need virtually no startup capital. All you do as a salesman or woman is to help sell the products of a particular company and earn a percentage of your sale.
- Online Upwork & fiverr: Have you any skill in either freelancing, translation, graphic design, video editing and programming?. Kindly check out professional platform such as upwork and fiverr where you can easily get hired and paid for your expertise. A lot of folks are earning a reasonable amount of cash from home from there.
- Blogging: Entails creating a website where you can write about what you feel pertaining to a particular subject and get paid for helping people to advertise their products of service. You can also get a considerable huge sum of money in a month by getting your website registered with google, bing and other search engine. This will enable them to advertise on your website and get paid per each click on the advert by the visitors. There are many free website, which you can create using WordPress and Wix. This however often confine owners to a corner and hinder them from creating it the way they would have love it to look like.
- Start a couching business: This is another business you can easily go into with or without startup capital, for a start, all you need is a small room or space, chairs, table, board and pen. Then you are good to go.
- Become a graphic designer: For you to go into graphic design and printing business, all that you need is a computer with either Coreldraw or Photoshop software. To improve your skill, you can download or watch helpful videos from YouTube to help you improve your skills
WHAT TO AVOID IN SYNERGY
- Greediness: In a bid to deceitfully gain more than other partners in business. The business would unarguably crumble. The foundation on which a synergy must be built upon and run should be nothing but the truth.
THOSE WHO HAD TRIED SYNERGY IN THE PAST
The Ants are good examples of creature we can learn from, they hunt in group, drag their prey to their hole together and eat together. Not to talk about the social animals such as the bees that swarm in group, the buffalo that lives in group, the lion and the tiger that hunt in group.
Business magnates of the past such as Andrew Carnegie, a steel business tycoon, John D. Rockefeller, the standard oil CEO and J. P. Morgans, the great financier who once saved the American economy practiced synergy.
Aliko Dangote, the Nigerian business magnate that has dominated almost all the production sectors in Nigeria is still practicing synergy.
You have got to practice synergy with someone too. We all can’t make it alone. We need each other, no man is an island, we depend on each other.
Every mistake is a classroom, it send us back to the drawing board, don’t ever be afraid to partner someone with an augmenting skills. If you fail, go back to the drawing board, re-strategize and start over again.
Attaincom Global Ventures is open to partnership, if you want to partner us in any form, kindly contact us via our email, phone number or by kindly filling our contact form on our webpage.
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