Question

Topic: Strategy

How To Get Quality Business Partners.

Posted by Blaine Wilkerson on 500 Points
Does anyone know of a good, inconspicuous way for a small marketing firm who is getting larger and larger by the day, to solicit investment/business partners?

This particular firm is looking for a few good marketers, each with their own unique skills, to not only purchase stock, but become active participants in the ever growing client accounts. Silent investors and Graphic Artists are welcome as well.

This firm would like to stay away from banks and VC since they offer nothing but money, and take half the company in return.

Any ideas? Places to start? Interested Parties?

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RESPONSES

  • Posted by Blaine Wilkerson on Author
    Thanks for your feedback! I have to say I agree with everything you said. Especially, the part about bringing on partners complicates things tremendously. I know all to well from some bad experiences.

    I suppose what I am debating is whether or not to bring on "vested partners", or commission/profit share based marketers.

    The money would most definately go to outsourcing "basic" office tasks such as accounting, 24/7 CSR (for international clients in particular), etc. so I (and my team) can focus on client acquisition, planning, design, ...basically whatever it is we like to do other than answer a hundred emails a day. In addition it would be used to further enhance our presence via branding strategies and the media.

    Of course, this is not a formal proposal, but just off the top of my head as to what some of our needs are. Currently, contact from potential clients and evaluating their products/services and proposals are becoming ridiculously time consuming...taking away from the other things that need to get accomplished.

    I don't want to just hire a series of employees, nor do I want to take on a partner with an ego the size of Texas. I can outsource the business stuff without additional partners, but my main goal is to bring quality, talented professionals to the team with experience and "contacts" in specific demographics in order to ehance the corporation's ability to attract, acquire, and effectively maintain a larger client base.

    I feel like an overloaded doctor having to say "I'm no longer accepting new patients". Although I have yet to turn anyone away who contacts me for advice and potential representaion, it's getting close to that point and I do not want that to happen. Potentially, turning away good business makes my stomach turn upside down!
  • Posted by Blaine Wilkerson on Author
    ParkHe,

    I have been slowly working on my double major in Forensic Science/Biochem so I can relate to your chemistry analogy.

    BTW- All my elective courses were business/marketing/philosophy related. Everyone thought I was nuts for taking Honors Business Statistics, Ethics, Physics 2 ( Engineer grade) and Organic Chemistry 2 all in one semester...working 35-40 hours a week all the while. They said, "What are you going to be...a scientist, a physician, a professor, or an entrepreneur? I said "All of the above"! . I do not lack focus, I just have a lot of interests and can't help but push myself to learn more and more and more and more.

    About 2 1/2 years ago, I put school on hold to take the great leap out into entrepreneur land ( and become a "stay-at-home dad" for my newborn son)! After about 8 years of running online businesses at night and on my free time, combined with the education I had already received ( all I lack is the "basket weaving" classes they make you take to get a degree..all the "hard" stuff is long out of the way)...I figured it was time to make a move!

    My father and step mother are prominent marketers in their respective fields and they have taught me a lot, but I learned most of it by getting my hands dirty (like most things). Day after day, night after night, I kept at it...and still do.

    I frequently hear the the question: "Where do you find the time to be here and run a business?". I explained it to Michele one day...something like "there are 24 hours in a day. I spend 4 hours with my family, 4 hours for sleep, and work the remaining 16 hours". Michele and I have been exchanging constructive criticisms of each others designs lately. I often wonder what Michele is thinking when after logging off to go to bed, she awakes to find me still at my computer responding to emails etc.! We live on different continents so time zone differences are obvious.

    So where did I get my marketing "expertise"? An MBA or marketing specific degree? No! It comes from a combination of: experience in the work-force, my natural creativity as an artist, a thirst for knowledge, my problem solving academic studies (Mathematics, Science, Logic, Philosophy), my entrepreneurial failures, and an acute passion for solving problems.

    I found that marketing allows me the freedom and opportunity to combine everything into a useful service...finally turning work into fun!

    I have several clients, all of whom are well aware of my little bio I just shared. They all appreciate my candor (as opposed to pumping myself up) and the dedication I give to them. In addition, the plans and results I produce for them are usually unlike any they have ever seen or would ever thought to have imagined. All of these things help to build a strong relationship and loyalty to my company and I. The two things which are priceless!!

    I have a favorite quote by an unknown author: "Those who can see the invisible, can create the impossible". That statement is the best way to descibe how I do what I do. It's one of those things I just know...I don't know where it comes from, I can't explain it or teach it, but I have this uncanny knack for finding creative solutions. not just in marketing but in almost every aspect of life.

    OK everyone...put away your guns and your nooses...my life story is over...and for those of you who are asleep, you can wake up because I'm going to actually answer the question now!! LOL!!

    As far as catalysis goes, I suppose I'm looking for both active and inert. I need people who not only "match my chemistry" as far as actively assisting the clients as I do, perhaps even taking over certain accounts or aspects of accounts so myself and others can focus on our niches...but also inert partners who can help drive the processes, but "stay behind the curtain" if they wish.

    To define the participants/partners: Yes, you are correct in assuming I am looking for "loose" or "refferal partners. I firmly believe I can eventually build a tight team of elite professionals with varying talents; all of whom would have a profit share respective to their participation..without a solid marriage.

    To put it into a relationship analogy: I'm looking for best friends...not spouses. At least not now anyway. As the businesses grow, the relationships will most likely change as each participant either becomes closer or more distant depending on their abilities and volition.

    I want to keep things loose for now so nobody has to give up their current business or dreams to come work with me and participate in my "master plan".


    My ultimate mission is to create a team who is working together toward a common goal, each person or company playing their respective positions within their own realms.

    For example: Let's say I land an exclusive Global marketing agreement with an Artificial Intelligence corporation. The graphics go the the graphics company, the ROI goes to the metrics company, the advertising goes to the Copywriters, the branding to the Strategists, etc.

    Or, if the graphic design company lands a big account, they field out the various needs to the respective companies and/or individuals within the team.

    Basically, a refferal network bound by agreement and compatablility. Instead of a bunch of employees, we will have a bunch of companies. (When I say "we", I mean the team). This conglomerate will be the beginning of a "Super Power" of marketing...a "League of Extraordinary Marketers" which will ultimately end up as one big corporation capable of handleing every nook and cranny of the marketing industry. No, I don't want to form my own marketing association...rather, I want to gather up all us little fish in order to make one BIG fish. A multi-functional Marketing Nation.

    Of course this will take time to build and specific aspects of the agreements would need to be well defined. The heads of each company will form the Board of Directors, who will establish guidelines, maintain congruency, etc.

    Whew! I hope that clarifies things a bit. I am looking for immediate assistance internally, but the conglomerate is my ultimate goal...it will be created one way or another.

    - Jett Enterprises, Inc.




  • Posted by Blaine Wilkerson on Author
    Pakhe-

    Thank you for your kind words. It would be an honor to associate with you as well. As you stated, "Networking is the order of the day"! We'll definately keep in touch.

    cal-

    Talk about spooky!! I honestly had no idea there were topics out there on the matter. Well, I guess I would have to assume I am not the first to think of such a thing, but I was unaware of the big "stink". However, I do not wish to intregrate marketing, I wish to organize it. Much like what some of the respondents to that article referred to as "Synchronized Marketing" or "Super-Angencies" that have core strategists that field out the clients needs to the particular parts of the conglomerate.

    Al Ries was speaking of "fusion"...like turning, PR and Advertising into "Pradvertotion" or something. He then made an analogy to the Armed Forces, stating how they are split up into specialty branches for a reason. But if you think about it, the Armed Forces are synchronized...forming the most powerful "Super Power Military Force" on the planet.

    Mr. Ries then referred to physicians and how they specialize. Sure they do, but they also have HUGE referral networks and conglomerates called "Hospitals", and "Treatment Centers", along with a multitude of private conglomerates that own Orthopedic Surgery centers, Family Practice, MRI facilities, Physical Therapy, Pharmacies, and even have there own insurance companies! Every doctor still specializes within his/her field, but the trick is nothing goes outside the circle unless absolutely necessary (i.e. a patint with a rare disease needs to fly to Germany to receive radical treatment, etc.) Otherwise, they are all doing great!! As a matter of fact, ten times better than when they were on their own. For example: a man walks in to see a orthopod for back pain and has a persist cough with a fever. An orthopod isn't qualified to treat the cough, but Dr. Smith, a Family Practice associate, can take care of that for him....and vice versa.

    Of course you wouldn't try to fuse mulitple specialites of marketing into one, but you can gather them up under the umbrella of one giant corporation and still manage to maintain specialization. Every agency has someone they send clients to when a need is out of their realm, why not organize that practice?

    Thank you for the link, It definately opened my eyes a bit and helped me get a clearer vision of how I am going to do this! Obviously, it won't happen overnight.

    Jim-

    Definitely going to contact you. I am very interested in what you are doing and what steps you're taking, problems you are facing, etc. You'll hear from me soon. Thank you for your reply!
  • Posted by Blaine Wilkerson on Author
    Parke mentioned construction. Therein lies another model to emulate, or at least analogize.

    Land developers and Building Contractors have a series of specialists under their "umbrella" whom they sub-contract specific duties to. There are masons, framers, electricians, trim carpenters, sheetrockers "mud and tape", painters, plumbers, roofers, etc.

    They don't try to fuse roofing and plumbing into one specialization, they repeatedly use the same companies over and over again to carry out the specific tasks after winning a bid.

    Law firms are another axample. Many large firms have dozens and dozens of attorneys who each have their our unique niche within the realms of Law. They work together and refer to each other under one corporation, all the while maintianing specialization.

    I was about to use the U.S. Government as an example, but I'm still in limbo regarding how well it actually functions...LOL!!
  • Posted by Blaine Wilkerson on Author
    cal-

    Are you clairvoyant or something? Who are you? What do you want with me!??!! LOL!

    I was thinking the same thing myself with regards to personality profiling. Although I am not the controlling type and have a laize-fare approach to internal policy (language, dress, hair, etc) if someone breaches an agreement or falls asleep on the job...I'm not afraid to confront someone if necessary.

    I'm kinda like one of those easy going, laid-back guys with a dry sense of humor...likes to play little pranks on people, tell jokes, believes definition is more important than terminology, needs LOTS of coffee in morning...you get the idea.

    On the flipside, I've also been called "the defender of the innocent" by stepping in between confrontations, and "one of those guys that's really cool to be around, but don't piss him off". Someone once typed my temperment as "phlegmatic/choleric ". Now, the literal definitions of these words are quite negative, but in personality/temperment profiling it means something like...ummmmm.... "one of those guys that's really cool to be around, but don't piss him off"!

    Thanks again for your feedback. I'll have to check that article.
  • Posted by Blaine Wilkerson on Author
    Can I have more than one USP? If not...I'll have more than one anyway. If so, I'll have more than one as well!!

    Contrary to this thread, I loathe talking about myself...makes me feel conceited or something. But for due to the nature of the question, I feel it is relevant to open the ole book a little.
  • Posted by Blaine Wilkerson on Author
    Cal-

    I'll check out the link and welcome anything you wish to send me via email!

    You and I are definitely on the same page...when I follow my own advice and narrow down what I "sell", it is: concepts, ideas, and solutions.

    I took an online IQ test just for the fun of it via emode.com (I think). I got a 133 and was classified as a "Visionary Philoshopher amoung the ranks of Plato"...whatever that means..LOL!!

    I'd like to find a good EQ test as well...just for kicks.

    Thanks cal!
  • Posted by Blaine Wilkerson on Author
    cal- Thanks for the quotes! I understand being swamped with a computer problem to boot! No rush on the info.

    Yeah, I'm interested in several niches of marketing and it's hard to try to stay in just one or two. Conception, Strategy, Tactics, Design, and Branding are my favs. Of course, I love ads...I'm not the greatest copywriter, but I do OK. I just like combining everything above into an advertisement that will hook the fish I want...it's kinda like...well...FISHING!

    Also, I really try to offer creative solutions to other problems the client may be facing ( financial, importing, outsourcing, etc.). Sometimes it's like I take over the whole company when they say "here...you do it since you know what you're talking about". I don't mind. They have to stay healthy in order for me to stay healthy! I'm not in it primarily for the money, I like to win, I like to succeed, and when I can take someone's product or business to higher levels...that look on their face and the tone in their "thank you" emails is an awesome feeling.
  • Posted by Blaine Wilkerson on Author
    Cal- Thanks Agian! Don't worry about stealing thread...anyone can pop in anytime.

    Parkhe - This is getting spooky..LOL!!! That is an interesting coincidence.

  • Posted by Blaine Wilkerson on Author
    sure go for it.
  • Posted by Blaine Wilkerson on Author
    Sharon- Thanks for the feedback. Actually, I need both!

    Thank you all for your feedback....

    cal- shoot me that email.

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