A new year presents more opportunities to rethink the way you earn income. Ever thought about starting your own business? More than half a billion people are seizing their financial freedom by becoming entrepreneurs; There are 582 million entrepreneurs in the world, according to a ThinkImpact study.
Refer clients earn an income doing so
This number has skyrocketed in recent years following the COVID-19 outbreak. In this article, we’ll reveal why 2023 should be the year you finally grab your financial freedom by starting an Introducing Business (IB).
How to start your own business in 2023
Become a partner, earn an income
The financial markets are worth trillions of dollars and generate huge profits for traders, companies, and investors. This has attracted millions of people to the markets, all seeking income by exploring the fast-paced world of online trading.
For traders and financial educators, this presents a unique opportunity to branch out from markets and earn an alternative source of income by starting an Introduction Business. Hundreds of thousands of entrepreneurs are becoming network and business referrers, earning a living building partnerships; Brands need more than just social media and marketing to reach customers, they require business referrers – people capable of building solid relationships with potential clients.
What if you’re not a trader? Don’t stress. Even if you’re not familiar with the financial markets, you can still earn a stable income stream simply by referring others to award-winning trading platforms, such as CMTrading.
with this: CMTrading partners we’ll not only help you take your first steps toward financial freedom, but we’ll also help you achieve it.
How good social connections create great businesses
Good partners make good businesses
If the pandemic has taught us anything, it’s that we’re living in uncertain times and traditional sources of income (read: a 9-to-5 job) aren’t as secure as they used to be. While the adverse conditions have pressured many companies into forever shutting their doors, those same conditions present unique opportunities for entrepreneurs and start-ups to thrive.
One major change we’ve seen is the staggering rise in the number of freelancers, startups, and entrepreneurs. The reason for this? Owning your financial security is the new normal.
From Red Bull & GoPro to Nike & Apple, one of the best ways of achieving success is through a great partnership. Whether you’re starting your own business or looking for opportunities to grow, having a great synergy between your brand and another is a fantastic way to achieve success.
Here are some of the benefits of a good partnership.
- Bridging the knowledge gap
Business partnerships can have complementary skills. Let’s say you want to grow your business via social media, but you lack the expertise. By partnering with a company with expertise in generating a social following, you’ll bridge your knowledge gap and grow your brand. A good partner can also bring knowledge and experience you may be lacking or provide complementary skills to your current business.
- More growth, fewer financial burdens
Let’s say you want to expand your business through a new office but lack the funding to do so. Having a partner means you can share any financial burdens that may come up. This means substantial savings and more resources.
- Better opportunities for success
Having to run a business is incredibly time-consuming. Having a partner not only makes you more productive but will ease some of the stress of running a business. This means you’ll be more flexible and can pursue additional business opportunities.
- Support when you need
Stress is the unfortunate byproduct of working and can be overwhelming. Starting a business can be a daunting prospect but having a partner means you won’t have to carry the burden alone. Often you will need guidance or just require someone to bounce ideas off, this is where a good synergy can lift both partners to new heights.
- New perspective
It’s easy to have blind spots about the way you conduct your business and have preconceived notions about starting one. For example – some might believe you require a huge amount of capital to start a venture. This is not true when becoming an IB, which has zero upfront costs. A business partner can change the way you think and open your eyes to new opportunities.
A good business partner can raise your brand to the next level while a bad one can ruin your company. If your partner doesn’t have the same values and goals or adds more stress to situations, they will be detrimental to your business. Worse, unscrupulous individuals are trying to scam hard-working entrepreneurs of their hard-earned money.
So what makes a good business partner?
Two great qualities of a company are industry recognition and a legacy; CMTrading is an award-winning financial broker with more than 11 years in the market.
To make sure you don’t end up in the wrong partnership check out our list of qualities you should be looking for in a business partner below:
Top qualities of a good business partner:
- Passion – Feel the energy
It’s easy to spot when someone is passionate about something. You can “feel” their energy when they talk about a specific subject. Ideally, try to find someone who is just as passionate about your business as you are. This includes finding a partner who has a shared vision and strives to move your business forward toward.
- Values – ethics are important
Equally, it’s important to find a partner that shares similar values such as an entrepreneurial spirit. You don’t want to have a situation where you’re partnered with someone who has a negative reputation. A great business can easily be damaged by a negative business relationship.
- Industry knowledge – raise your brand
Partner with someone who has a firm understanding of the industry you’re working in. Search for people or brands who have experience, education, and, most importantly, references. Partnering with another expert in the industry can rapidly boost your brand awareness.
- Complimentary business skills
It’s easy to want a partner that has the same skills as you but you’d be doing your brand a disservice. A diversified set of industry skills can complement your existing knowledge. You want a partner that can handle different tasks. Perhaps they’re great at producing video content and you lack a presence on YouTube, TikTok, etc. By having complementary skills you will be able to grow and develop each other’s brands.
- Wants to go the distance
You can find all the right qualities in a partner by sadly, they’re not fully committed. Having someone willing to go the distance is rare but will ultimately be hugely beneficial. Running a business is tough and you need someone who will stick by you during the good times and the bad.
- Experience and references
The mark of a good partner is one with a proven track record with other companies. Industry experience speaks volumes especially if you’re a beginner. Search for a partner with previous success and references you can contact.
- Dedication to your success
Lastly, you want a partner who isn’t aligned with you for quick success. These individuals will leave when things don’t go as planned, or worse, are scammers. You need a reliable partner. Someone who is looking five years down the road, not towards quick rewards. For any business venture to be successful, your partner needs to have the same level of dedication as you.
CMTrading partners have a wealth of knowledge to not only help grow your business but ensure you succeed every step of the way.
More from CMTrading Partners:
How to start your own business in 2023
How good social connections create great businesses
Why business referrers are the future of business
Networking – your key to business success
Unlock your full potential: Invest in yourself
Register and start an Introducing Business (IB) with CMTrading
Becoming an IB is an easy and exciting way to earn money – simply refer traders to CMTrading and let us do all the work! In return for referring clients to CMTrading, our IBs will receive a favorable commission.
So go ahead, start referring clients and earn money when they trade. It’s that simple!
