Manage Pandora Subscription Partnering With Other Entrepreneurs – Pros and Cons

Partnering with another entrepreneur means sharing ownership, responsibility and trust. Should you find a partner? Is it better to partner with a friend? For some people, it is a “no” because they are afraid of losing their friendship due to having money involved. For others, it is a “why not do business together?” This seems to keep the friendship one step ahead of the game. They might feel more comfortable to work with someone they already know and trust.It is hard to say if partnering is a good option depending on the business industry, financial situation, and many factors. Let’s ask some critical questions:1. Is the business your sole idea or with someone else? Does he or she have any business knowledge in this line of work or passion. Do they have the same goals as you have?2. What type of business do you have or want to create? Is this a product or service business? What responsibilities or licenses should both partners need to obtain? Who is responsible for getting needed documentation or licensing?


3. Do you need to partner with someone to run this business because you cannot afford to hire people or for financial reasons?4. What partnership will agree to be? 50/50? 60/40 or 70/30 etc.?5. Entrepreneur needs to understand that business is a long-term commitment. It is a long run from startup to harvest. What is the exit plan for a partner if needed and how to settle?6. Do you have the ability to manage this business?These are some vital questions that entrepreneurs should ask before creating partnership.I have spoken to many entrepreneurs and did some research. Here are some advantages and disadvantages about partnering:• Ownership:Pros: Pride of ownership, freedom from others control, time invested will show higher return, flexibility to make decisions.Cons: You never know when you can invest 40 hours or 80 hours into the business this week. Having to compete with other companies. No guarantee of success.If partnering just for capital, an entrepreneur may think twice. Partnering mistakes are costly because a partner may not have any expertise for the business or not willing to invest the same amount of time.• Control:When it comes to partnering, a lot of people immediately think about 50/50, so everyone can have equal control. You need to avoid this because “there are too many cooks in the kitchen.” There needs to be a person who can make the last decision. Research shows it is best to go into a partnership of 60/40 or 70/30. Every business needs a person who has an overall control and accountability. This way employees will not be confused in knowing who the boss is.


• Personality:Pros: different and more diverse characters may benefit in various tasks such as finance, people, product, marketing management, etc.Cons: Facing the same issues but two people may react in different ways.• Partners vision:Pros: It is best if having a partner who has the same vision, passion, and goal as yours.Cons: Partners many times see the same product going in two different directions.• A mix of generations:Older partner: Lifetime experiences, knowledge, and more flexible work hours but not much energy and might be considering retirement soon.Younger partner: They are savvy with new technologies and full of energy. Eager to work but lack of real-world job experiences or some specific skills needed. Less flexible work hours or not fully committed to the job.Think long and hard before you invite a partner into your dream!

What It Takes to Be a Certified With ISO

Benefits of ISO International Standards?

JAS-ANZ International Standards guarantees that products and services are safe, reliable and of good quality. For companies, they are strategic tools that help reduce costs by minimizing waste and errors and increasing productivity. They help companies gain access to new markets, in order to bring about equity, for developing countries and facilitate free and fair world trade.

How does JAS-ANZ develop standards?

JAS-ANZ are developed by the people that need them, through a consensus process. Experts from all over the world develop the standards that are required by their sector. This means they reflect a wealth of international experience and knowledge.

The main benefits of JAS-ANZ standards

JAS-ANZ was founded with the idea of answering the fundamental question: “what’s the best way of doing this?”

IMS (integrated management systems)

An integrated management system (IMS) combines all the components which is linked to different enterprises or business in a system, which helps in facilitating management and operation. Quality, environment and safety management systems are generally combined and administered as IMS. These systems are not separate systems but are later merged together, but are integrated with links to similar processes are managed and executed smoothly, without duplication.

As a part of gaining ISO certification it is important to have a good quality management system that not only meets the standards, but it will also improve business processes.

6 KEY STEPS TO ACHIEVING CERTIFICATION

1. Identify your key drivers

Its recommended that a formal is done at a senior management level, your key drivers for implementing a Quality Management System. Such drivers should include improved awareness of the performance of your key processes and the need for continual improvement, as well as any specific customer requirements.

2. Obtain the standard

Purchase a copy of the standard. Search the web for links to relating to your particular sector. Make sure you know the facts from the myths. An illustration, ISO 9001 is applicable to any organization in any industry, not just the manufacturing sector.

3. Define your strategy

To successfully implementation of a Quality Management System, commitment is required from senior management on defining the strategy. Start to formally document a quality policy and objectives following adequate requirements. Ensure that the requirements of the quality policy are measureable to be able to demonstrate continuous improvements.

4. Planning provides resources for

Developing a quality management system requires resources to be made available and realistic timelines allocated ensuring that responsibilities are shared within the organization and not just allocated to the Quality Manager. As the system is developed, this plan should be reviewed by senior management and kept updated. The responsibility for the Quality Management System and the Quality Management representative should be clearly identified. In addition, you may wish to employ a consultant to help develop the system. Make sure that the consultant knows and understands your business and any advice that covers your business as a whole.

5. Know your processes

IS0 9001 requires you to formally describe the interaction between the processes within the management system. This can be achieved by a simple process map specific to

your organization. The map should identify the key processes and also indicate the resources, controls, documentation and records needed to meet your customers’ requirements. Ensure this process map is validated throughout your business to ensure no areas or interactions are missed. As the system is developed this process map should be used, reviewed and updated for its eventual inclusion in the Quality Manual.

6. Determine training needs

ISO 14001, ISO 18001, ASNZ 4801, ISO 27001 requires proper identification of competence requirements for employees coming within the scope of the Quality Management System. Team leaders, employees and internal auditors will all need to meet the requirements of competence, sometimes requiring external training. A range of courses, workshops and seminars are available to meet these needs. Make sure to define how you will demonstrate the effectiveness of training.