ASK ANDY: Choosing Partners, Slaying Giants - MFQA2
Ask Andy: How to Choose a Business Partner, How to Compete with Industry Giants
How do you choose the right partner to go into business? How can you compete in an industry that is dominated by one or two giant companies? In his trademark no b.s. style, The MFCEO Andy Frisella answers these questions. Joining him in the studio is his co-host, Vaughn Kohler.
Question #1: How to Choose a Business Partner
Here are Andy's basic principles for how to choose a business partner:
- Find someone who wants to get shit done, not get the spotlight
- Find someone who is good at things you are not good at, and likes to do the things you don't like to do
- Find someone you respect and enjoy hangout out with
- Find a good, moral person who does the right things
- Realize that every partnership is risky. You are going to have disagreements. In order to succeed, find a way to resolve your conflicts constructively
Question #2: How to Compete with Giants in Your Industry
Here are Andy's basic ideas for competing in an industry that is dominated by one or two giant companies
- Look for areas (offline and online) where that company is not active - and sell your service/product there
- Look into alternative ways to promote your brand. Find other people have a good voice and occupy a good space and get them talking about you.
- If you can disrupt the status quo and carve out a good space in the industry, the giants might want to try to buy you out. That's a legit option!
- Above all, find a way to be "the people's brand" - win customers one-at-a-time be providing an exceptional experience!
Links Mentioned In This Episode
Books Mentioned In This Episode
Also in MFCEO Project Podcast
Every day there are people who don’t achieve the goals that they could achieve if they just acted. In almost every case, the reason they didn’t act was because THEY TALKED THEMSELVES OUT OF IT. They let the "little loser voice" inside them dictate the terms of their life - who they are & what they can accomplish.But successful people take specific steps to take control of their mental conversation - and their lives. In this episode, I tell you what they do to dominate.
"What if?" is a question I hear people asking all the time...people who are in the middle of their entrepreneurial journey...or people who are in the midst of trying to accomplish a big goal. The reality is, people who constantly ask themselves that question are mentally abusing themselves. They are subjecting themselves to doubt & uncertainty. Successful people, entrepreneurs or otherwise, are different. They ask entirely different questions and operate under a whole different set of expectations.
Jocko Willink is among the best in the world on the subject of leadership & in this episode he joins me to talk about his new book "The Dichotomy of Leadership." We talk about the opposing qualities that leaders need to develop, as well as Jocko's tactics for dealing with lack of confidence, overly inflated egos, & a ton of other situations & challenges a leader will face with any team or business on the planet. This is as thorough an education on leadership as you're going to get...in less than 90 minutes. Read More