The Business of Sharing Your Business


dim-sum3

Image from: babyccinokids.com

Have you ever heard of the “Share-Your-Business” business? It’s what most network marketing systems do, but it really isn’t exclusive to network marketing. It’s a new kind of business where you let other people take a peek into your business so they can also start doing it.

Won’t that create more competition for you? Well, yes and no.

Yes, because there will be other people getting into the same business as you have and which would share in the market. But isn’t that what healthy business is all about–healthy competition? They say businesses become better with competition.

No Competition–Here’s Why

And no, it wouldn’t result to more competition because the idea is to become a “mother” company to your “daughter” companies. Like what franchising is all about, but it’s not exactly franchising. The share-your-business (SYB) concept is more like helping others do the same business you’re doing and doing it independently, and yet maintaining contact so you can help them more.

You can apply the SYB concept in lots of ways that would earn you bigger income (and less hard work) than if you didn’t share your business at all. Sharing and helping attract blessings. The more you help people succeed, the more you attract success. This is what sharing-your-business is all about.

It is better to give than to receive. [Acts 20.35]

For instance, you’re into furniture making. You can put up a furniture store and sell your finished products there. But you will be making money only from a limited market–that small market within the immediate vicinity of your furniture store.

The share-your-business (SYB) concept is more like helping others do the same business you’re doing and doing it independently, and yet maintaining contact with them so you can help them more.

What if you teach others your business?

There are lots of people who want to go into your business, but they just don’t know how to start. So, why not offer seminars on how to start a furniture store? You can make lesson modules out of the different aspects of the furniture business. Like:

A. How to Start a Furniture Store

  • Capitalization
  • How to start the paper works, like government permits.
  • Choosing a location
  • Equipment needed and where to buy them
  • Supplies needed and where to procure them
  • How to hire the right workers
  • How to do deliveries when you’re just starting the business
  • Day-to-day operation, over-head cost

Something like that. Then, do advanced seminars later. Something like:

  • Creating your own new furniture ideas
  • How to market furniture products more effectively
  • Updates on new furniture-making machines
  • Updates on furniture fads or trends in Europe and Asia

Something like that.

Share Even Your Trade Secret

I have a friend who prospered by selling dim sum.  He started by selling it in the streets but now has 3 very profitable branches in Laguna. But his problem is, he can’t leave his business even a moment to enjoy his money with his family because he prepares the dim sum products himself, which is quite cumbersome to do, taking a lot of time–even taking a lot from one’s health, considering the stress involved. It’s a trade secret he doesn’t want to share with anyone. It has to be him personally doing it according to his unique formula.

But he is also starting to realize how sad it is to have money and not enjoy it. He’s so tied up to his business it’s become almost like a curse.

So one day, I gave him an idea about the sharing-your-business business. At first, he didn’t like the idea of sharing his secret recipe. I told him he could offer a price commensurate to the value of his secret recipe and his experience. He said that there indeed were people who begged him to teach them how to start a dim-sum business.

“Then, offer them a series of seminars worth P5,000 each!” I said. “If you have 5 persons enrolling, that’s an easy P25K. But you see, there are 5 lesson modules. And what if 50 people come in, and that each month?”

His face brightened up and he looked at me with wide eyes, as if saying, “Hey, wait a minute. That’s a good idea!” But somewhere in his eyes, you could see he still didn’t like the idea of sharing his secrets.

I continued: “Make lesson modules on how to start your street dim sum business (from almost nothing to something) and then teach them how to grow it. Make it 5 lesson series in all, the final being your secret dim sum formula.”

I went on: “Price it at P5,000 each for a total of P25,000. If there are 4 enrolless, that’s P100,000. If 50 enrollees, then P1,250,000 million. If that happens monthly (and it is bound to be if you market it right) that’s P15 M each year.”

I asked, “Do your 3 branches give you that much each year?”

Mind you, this is not a franchising but an info business. You don’t have to bother supplying them with products to sell because they’re on their own. This way, you eliminate a lot of headaches.

One guy asked me–“Do you really have to share your trade secrets? Won’t that put you out of business eventually?”

You’d notice how nothing beats the original. Even if all of you produced the same products, people will still look for the original. And remember, being the author, you’d always be ahead of them. You should know how to maximize on your head start. If you shared them your trade secret of 10 years ago, you surely have improved on it so much by now.

Anyway, the best thing is if you do this online with e-books. You substantially reduce your overhead cost.

How to Share Your Business Effectively

Now, when sharing your business, you have to do a good presentation, one that is short, easy to understand, straight to the point, systematic and convincing. To know the proper way to do it, the e-book, “How to Present Your Business to Prospects Effectively,” is a timely and useful book for you. It gets to the core of the issue.

To buy it, just click, “How to Present Your Business to Prospects Effectively,” on LINKS found on the upper portion of the sidebar of this blog. After paying through Paypal, you will be taken to a page here to download your PDF copy of the e-book.

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2 thoughts on “The Business of Sharing Your Business

  1. Awesome blog, awesome concept, having worked in franchising for a long time these principles are like a breath of fresh air – thank you (I rated you excellent by the way) keep up the great blogging!

    Like

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