A business partner explains what separates viable ventures from dead ends: knowing your competitive advantage and having a scalable model with sound structure. He joined a birthing center where clinicians deliver excellent care but needed business expertise to grow and get properly valued.
Number 4 is competitive advantage. In what area or areas does the business demonstrate a competitive advantage? Is it a technology advantage? Is it a brand awareness advantage? Number 5 is, do they have a rock-solid business model? Is there a real and scalable business model? Has the business invested in the right structuring advice? And is the proposed valuation backed up by verifiable numbers? Okay, so one of the reasons that I'm getting involved in this birthing center side of things is because the the people who have the expertise and the ideas, they don't know how to run a business. They recognize that they know how to catch babies, right? That's what they know how to do. And they know how to run the centers, but they don't know the business side of it. And so they brought me in as a business partner to be able to support with them.
