GO IT ALONE!
their venture. This point is also demonstrated in the story of Synapse’s growth: For Michael Loeb, a critical factor in getting the business off the ground was convincing the large credit card companies to work with his firm.
- Be prepared to demonstrate credibility. When you call a large firm while working at another large firm, the dynamics are fairly clear. Both entities may have a vested interest in working with each other. As a consequence, your call is likely to be returned without too great a delay and your credibility is not in doubt. When a go-it-alone firm calls a large firm, the dynamics are very different. Imagine you are an employee at a large company. Now, how would you react if someone called you with a proposition from a solo entity? What would compel you to take or return the call? How could a solo entrepreneur demonstrate sufficient credibility so that you would consider doing business with this one-person enterprise?
A confident attitude will go a long way toward demonstrating credibility. It is absolutely essential that you project confidence in your ability to handle whatever task you are discussing with a potential customer, client, or supplier. As a go-it-alone entity, you are effectively asking people to trust you. How can people have confidence that you will deliver on your promises if you appear to doubt yourself? Be absolutely focused on getting paid. At large corporations, getting paid is not a central focus for operating personnel. Typically, separate credit and billing departments handle all of the issues associated with payments. When you run your own firm, cash flow becomes a central concern and the timely payment of bills becomes essential. The best approaches to ensuring you are paid on time by both large and small companies is beyond the scope of this book. It is, however, a topic that is addressed in many guides to starting a business. As you get started, it’s critical that you focus on this issue.
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GO IT ALONE! Copyright 2004 by Bruce Judson. Reprinted by permission of HarperCollins Publishers. All rights reserved.