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A Foot in Both Worlds

Picture this – I was working as an Entrepreneur-in-Residence (EIR) at an early-stage venture capital firm. I was delving into the exciting tech startup realm. At the same time, I was mentoring small non-tech businesses at Score and the University of Chicago pro-bono. This dual role exposed me to a stark contrast.

Startups had access to the vibrant startup ecosystem and could tap into high-caliber resources with ease. But non-tech business owners didn't have that luxury. They lacked access to these valuable resources, including people with specialized skill sets that could supercharge their growth. People like me.

Here's the kicker – the startups I worked with got my services for free, thanks to the VC fund covering my six-figure salary. But, for non-tech businesses, it was a different story. Affording my real cost was a challenge for them and they could only access me during my pro-bono hours. It became clear that there was a tremendous need for a model that could offer these transformative services. Especially to non-tech entrepreneurs, all without breaking the bank.

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The Power of a Partner

As an EIR, I was sent to help distressed venture-backed startups as a semi-internal, semi-external resource. I often either joined the leadership team or created one from scratch. Once a team was in place, we professionalized their businesses, developed growth strategies, and tackled execution challenges.

Little did I know that this unique approach would lay the foundation for what I now call the "Fractional Business Partnership." It's like becoming a transplant member of the leadership team, working side by side to drive success.

Getting Over Equity Concerns

One key challenge I noticed with non-tech business owners was their reluctance to give up equity. Unlike startups that plan to raise capital, these self-funded ventures were often single-shareholder-owned. Meaning that the owners hadn't sold equity before. I recognized the need to find a model that allows us to start working together without demanding equity upfront.

So, I designed a strategy where we could begin our partnership with a nominal fee. There is no equity or real ownership involved. My priority was to build relationships, earn trust, and deliver undeniable value through a fee-based 6-month long project. Once we achieve that, we can reevaluate and discuss compensation based on the value delivered. Whether it's through equity, revenue share, profit share, royalty, or any other mutually beneficial arrangement.

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A Perfect Model - Assuming The Right Partner

As I pondered over these experiences, I realized that the Fractional Business Partnership model was a perfect fit for certain entrepreneurs:

1. Millennials (Ages 25-40): Since I fall within this age range, I naturally relate to the challenges faced by fellow millennials in the business world.
2. Non-Tech Entrepreneurs: My expertise lies in helping non-tech entrepreneurs who are bootstrapped and haven't sought venture funding.
3. Businesses with $1-5 Million in Annual Sales: I thrive in partnering with businesses within this revenue range, where my skills and strategies can make a significant impact.
4. Experience in Their Profession, Not Building Businesses: Many founders excel in their professional domain but lack the experience to scale and grow businesses.
5. Hungry for Growth: I love working with founders who are eager for growth and are ready to take their ventures to new heights.
6. At Least 5-7 Full-Time Employees: For this model to work seamlessly, businesses should have a team in place.

So, there you have it, the story of Fractional Partners. It’s a unique approach to driving growth and success alongside passionate entrepreneurs. Together, we'll formalize leadership teams, devise multi-million dollar growth strategies, build robust systems, and tackle execution challenges head-on. I'm excited about this journey and look forward to partnering with even more ambitious founders like you!

If you're a non-tech entrepreneur hungry for growth and seeking a dedicated partner in your business journey, let's connect and explore the endless possibilities together.