To hire or to partner, which path to choose?
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Things are going well for your business, demand is strong and you can no longer meet demand? You’re thinking of surrounding yourself, but it’s difficult for you to determine whether you want to hire or partner...
There are pros and cons to each option. Philippe Richard Bertrand, who is a partner and chief growth officer at Amplio Stratégies and chief growth officer at Univers Interactif, explains the advantages and disadvantages of both possibilities to help you make the right choice.
All good businesses have three core areas: sales, production and administration. To be successful, each area should have a leader at its helm.
A partner can bring unparalleled value to the business over the long term. "It's a good idea to choose partners whose skills compensate for your shortcomings," says Richard Bertrand. Partnering with others is beneficial in many ways, though there are also some drawbacks and obligations that you will have to deal with.
- Stronger ties and deeper commitment
This can be an advantage in a world where people change jobs often. Not to mention the fact that, "When business heats up, you won't have to worry about paying a partner overtime," says Richard Bertrand.
In most circumstances, an employee won't put in 80 hours per week unless they are compensated for it.
- Better decision-making
If you forge ties with the right people, you'll benefit from their points of view, which can lead to better decisions than if you were on your own. This can be very helpful for growing your business.
Want to know more ?
Read the complete article on Desjardins’ website