Tag: Business Development

Qualities Business Investors Look For: No. 6 🕵️ (Unlimited Growth Potential)

Posted on by brianjpombo

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Part 6 in a series of videos on what what Brian looks for in companies.

Transcription

Qualities business investors look for Part Six.

Hi I’m Brian Pombo welcome back to Brian J. Pombo Live.

This is part six of a seven-part series, all on the qualities that business investors look for, when they’re looking for partners when they’re looking for people to team up with when they’re looking for businesses to purchase, these are all things that apply.

And we’ve gone through the top five, so far, these are in no particular order, by the way, and we’re going to go through number six, number six is an interesting one. Because it’s one that can be really cliche. And I don’t want to fall into that I want to see if I can describe this very clearly to you as to what the number six is and it’s even more important, what it isn’t.

Everyone once in a while you see a business that has a whole lot of things going for it.

But they get stuck in this one area, which is well, let me tell you the positive end of it.

What I look for when I’m looking for a business to partner up with is I’m looking for unlimited growth potential. That’s number six, unlimited growth potential.

This is very simple.

If you have a business that’s limited in its ability to grow, okay, and there’s gonna be a number of reasons why it could be way oversaturated in the number of things that are competing for the same spot. That’s not a problem I run into too often. Because if a business has been somewhat successful, hopefully, it’s overcome that.

But if you’ve kind of reached the end game where there’s already somebody, that’s the low price later, there’s already somebody that’s getting the very high end of it, and it’d be difficult to be able to beat them out of that spot.

If there’s no real clear path for victory, then that is limited growth potential. There’s a cap somewhere, there’s something stopping us and it happens, and most of the time it’s self-imposed.

Most of the time, it’s a lack of vision on the people that are running the business, whoever’s in charge, whoever’s the vision person lacks the ability to see the path past these obstacles.

That can be a number of obstacles that run in the way most of the time, it is a lack of vision in product and service development, inability to be able to see what else that same market that you’re already playing to what else they need, and what else you can connect them with.

Because they’re people, they need something else, it doesn’t even have to be in the same grouping in terms of my niche, excuse me a niche, I guess you would say, or industry, it doesn’t have to be in the same area, it can be in something completely different.

But it has to play to the same market, the same person, the same ideal person for you currently purchasing your products and services, now, there’s something else they need, and you’ve got to sell it to them, you got to find a way to get it in their hands.

If you don’t have a pathway for that, that that limits your business, it limits the vision and it’s you might as well be starting from scratch. In many cases, if you’ve got those types of limitations on your business, if it doesn’t have completely unlimited growth potential, then that’s not a business I’m looking to venture with.

I need to see something I need to see be able to look at it and see the next 510 20 years in a business. If there’s a cap somewhere if there’s something holding it back.

Something’s not right. It’s usually with the visual person, the business owner, the CEO, whoever’s in charge, whoever’s making the decisions for where that where we’re steering the ship.

If they can’t make up their minds and figure out how to get past things. That’s not a good partner. That’s not someone I want to work with and that’s I know that sounds extremely negative. But this is just the reality of it.

There are so many options when you’re a business investor out there, there are so many options and people you can work with, you’re not going to waste your time on a business that has these issues.

So if you’re a business that has these issues, I’d suggest fixing them and fixing them quickly, because the more people that you can either partner with or have the potential of partnering with in the future, the more likely it is that you’ll be able to survive. any bad times that come any second round of COVID-19, or anything else that may pop up war, pestilence, or any of the other craziness that the world can throw at us, you got to be flexible when you’re in business.

This is a great example of that tomorrow, I’m going to go over the seventh thing that I look for when looking for a business to partner with. And this is a very, very, very important one.

Honestly, if it’s done right, you could be messed up on a lot of the other numbers and we can overcome it, if you’ve got this seventh one right.

That’s why I said these are in no particular order the seventh one. It’s pretty spectacular. It’s nothing I haven’t discussed before, but it’s something you may not quite have a grasp on, be sure and come back tomorrow for that.

In the meantime, go check out my book, 9 Ways to Amazon-Proof Your Business.

If you want nine specific strategies on how to make your business completely competitive proof. Whether you’re working with a business investor or not nine ways to Amazon prove your business. You get a free copy at AmazonProofBook.com.

We’re going to be back here tomorrow night. In the meantime, you have a great one. Get out there and just let the magic happen.

The Necessity To Know Thyself 🧠

Posted on by brianjpombo

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Thoughts on knowing your strengths and weaknesses personally and in business development.

Transcription

The necessity to know thyself.

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

One of the most common things that I see over and over again, with clients and friends. And people that are in a conundrum is, most people just don’t know themselves well enough.

Let me get a little more specific as we get going here. Because I found that people lose track, because they don’t really know what they want.

They don’t really know where they’re going, and they don’t really know the end result that they want to get from doing that.

You can’t always know the end result, you can’t always know exactly what you want or where you’re supposed to be. But you might have a clue.

You might know, if you have a clue of where you’re going, start moving there, start going there, go in that direction, and see if it fits or not see if it feels right, you got to get moving and trying things out.

You got to get out and taste life a bit. And oftentimes in business, we think that we can’t be adventurous, I’m telling you, you have to be you have to push the envelope, you have to take things to the next level to see if it’s really the direction you want to go.

And you may want to make just little corrections along the way. But eventually you’re going to go start going into direction, where every next next step, as you’re moving forward, it seems more and more correct, it seems more and more right?

There just there gets to be a sense on the inside that you’re that this is this is going the right way that I’m going the right direction, this is where I’m supposed to be.

It’s on the inside that you just feel it. You know, if deep down, there’s something you can’t deny.

If you’re not there yet, yeah gotta keep digging, you got to keep trying different places as much as possible. And it doesn’t mean it’s not going to be uncomfortable.

The best places I’ve ever been are the most uncomfortable places.

And when I get over each next discomfort, it seems like I’m going better and better and better, and I’m getting to a better place.

So it’s really easy to get caught up with a goal.

Don’t get caught up with the goal. But doesn’t mean you shouldn’t have one, start with one, start moving in a particular direction with your life, with your business with everything else, and get to know where you’re going.

I was having a conversation with a friend earlier today, kind of a friend slash client and he was going in one direction. And then all of a sudden, completely pivoted and started going in a different direction. That’s cool.

Keep going keep going till you figure out some sense of direction.

It’s not like it’s always going to be that way. It’s not like you’re always going to go in that one direction.

But from what I’ve seen, most people have like a meaning to their life. And they when they when you start finding what you’re really after it just it clicks, you got to keep looking for that.

Don’t stop, don’t get stuck moving in a direction just because you’ve always gone in that direction, switch it up, try some things on the side, try some different avenues, find what makes your heart sing, and you’re going to be in the right place.

It’s going to also be tied in with something difficult, I’ve almost always found that to be true, there’s going to be some discomfort associated, there’s going to be a growing process.

If you’re going the right way and doing what you need to do, there’s going to be some pleasure to the end game, but then in the short run, it’s going to be tough.

There’s can be some pain associated.

So hopefully that makes sense to you. This is this is much more of a large base principle, but it really comes down to knowing you and paying real close attention to the signals on the inside telling you, you know, I always relate it back to a traffic light, you know, either get a red light, a yellow light or a green light. And you either go, okay, that’s definitely not where I need to go.

That I’ll be I keep going this way cautiously and then then you get a green light every once a while you’ll get a green light versus like put the pedal to the metal move forward. You can’t lose movement in this direction.

They always change and doesn’t mean you’re going to be going straight down the street, you’re going to have to make some turns here and there. But the only way is forward. So if that’s something you needed today, you got it.

If you’re looking for something beyond the principle and want to get into some deeper strategies that you can use in your business or your cause, or your nonprofit or your organization, go check out my book, 9 Ways to Amazon-Proof Your Business.

It’s not just about business, it’s not just about defeating Amazon as a competitor.

It’s about defeating all forms of competition in your mind, and really developing long term strategies to achieve what you’re wanting out of life.

Hopefully, that makes sense.

We’ll be back here tomorrow, in the meantime, get out there and let the magic happen.