Audi will partner with Sauber’s Formula One outfit, which currently races as Alfa Romeo, in 2026.
The post Audi to partner with Sauber for F1 2026 entry appeared first on Buy It At A Bargain – Deals And Reviews.
Are you interested in starting a business or growing your existing business? Bringing on a business partner can offer several advantages. These include expertise in different business areas, strategic connections and more capital.
But select the wrong partner and you could be setting yourself up for years of personality conflicts and lawsuits. And ultimately, the end of your business.
Before you even think of approaching a potential business partner, consider whether you really need one. Then, get clear on the type of person who will be a good match for your own skills, values and goals. It’s much harder to undo a business partnership than it is to create one. Here’s what you should know before taking on a business partner.
A partnership is a relationship between two or more people who carry on a business together. For tax purposes, partnerships are known as pass-through businesses. This means the partnership doesn’t pay taxes. Rather, partnership income or losses are passed through to owners. The owners then pay taxes on their share of profits on their individual tax returns.
Partnerships are the second most common type of pass-through business in the U.S., just behind sole proprietorships. That popularity stems, at least in part, from the ease of creating a partnership.
According to SCORE, a nationwide network of volunteer business mentors, partnerships aren’t a legal business entity. In some cases, they don’t have to be registered with the state. This is unlike corporations and limited liability companies (LLCs) do. Essentially, if you go into business with another person without incorporating, you’re in a partnership by default.
Despite that informality, forming a business partnership isn’t a decision to take lightly. Even if you don’t have a formal agreement, you have basic legal responsibilities to other members of the partnership. Such as:
Choosing a business partner is like choosing a spouse. You’re trusting this person with your financial investment and your future. That’s why it’s so important to choose your partner wisely.
So what kind of criteria should you look for? Consider these six questions.
What happens if you want to grow your business internationally, but your partner wants to keep it small and local? Not being on the same page about target market, investments and long-term strategy can lead to a lot of unnecessary conflicts. You and your partner should have similar goals for the future of the business.
Unless you already have an open relationship with your potential partner, you likely won’t know much oft their financial history. Going into business with someone with poor credit or shady financial dealings can get you into trouble. Consider having a potential partner submit to a background check and credit check.
People tend to want to do business with other people who have similar temperaments, skill sets and backgrounds. While this can be a good basis for friendship, it’s not always the best for a business partnership.
Look for a partner who is better than you at certain things. For example, if you’re the whiz with numbers, you might need someone who is a great communicator or leader. But, if your focus is big, long-term strategies, you might need a partner with excellent attention to detail. Bringing complementary skills together makes your partnership greater than the sum of its parts.
Partnering with your spouse, sibling or best friend might seem like a great idea to start. But proceed with caution when forming a business with someone with whom you already have a personal relationship.
According to a PWC survey, 23% of owners and executives in a family-owned business say they’ve never had a disagreement with their family members. Meanwhile, disagreements are a regular occurrence for 7% of family-owned businesses.
Close relationships can suffer if the business fails due to conflict. Which many do — data shows 20% fail in the first year alone. This isn’t to say that you should never do business with friends and family. But if you do, make sure you have a written partnership agreement. Outline responsibilities and how you’ll resolve potential conflicts.
Until you’re actually in business with someone, it can be tough to understand their work style or how they’ll react in difficult situations. If you don’t have any experience working with your potential partner, consider doing a trial run. You could work on a project together or hire them as a consultant.
This allows you to see how well they communicate. See if they pull their weight and work through challenges. If it goes well, you can formalize your business partnership. If it doesn’t go well, you have a chance to walk away sooner rather than later.
No matter whom you choose as your business partner, you need a written partnership agreement. This agreement spells out the rules for how the partners will manage their business. It includes responsibilities, investments, profits and losses, company management and conflict resolution. It can also address what happens when one partner wants to sell or leave the business.
Don’t skip the formal agreement because you’re starting a business with family or afraid of hurting someone’s feelings. A partnership agreement is always important. But it can be even more crucial when you’re starting a business with a friend or family member. Plus, a well-thought-out agreement can help lessen misunderstandings and preserve your relationship.
Each state has its own laws governing formal business partnerships. So it’s a good idea to work with an attorney who specializes in contract law. They can help you create a custom (and legally enforceable) partnership agreement.
Of course, hiring an attorney costs more than downloading a partnership agreement template you might find online. But a well-drafted agreement can protect your investment, efficiently resolve disputes. And it saves you tens of thousands of dollars in legal fees later.
Janet Berry-Johnson, guest blogger and author of this post.
The post How to Choose a Business Partner appeared first on Credit Suite.
The post How to Choose a Business Partner appeared first on BUSINESS DEMO WEBSITES.
The post How to Choose a Business Partner appeared first on Buy It At A Bargain – Deals And Reviews.
Are you interested in starting a business or growing your existing business? Bringing on a business partner can offer several advantages. These include expertise in different business areas, strategic connections and more capital.
But select the wrong partner and you could be setting yourself up for years of personality conflicts and lawsuits. And ultimately, the end of your business.
Before you even think of approaching a potential business partner, consider whether you really need one. Then, get clear on the type of person who will be a good match for your own skills, values and goals. It’s much harder to undo a business partnership than it is to create one. Here’s what you should know before taking on a business partner.
A partnership is a relationship between two or more people who carry on a business together. For tax purposes, partnerships are known as pass-through businesses. This means the partnership doesn’t pay taxes. Rather, partnership income or losses are passed through to owners. The owners then pay taxes on their share of profits on their individual tax returns.
Partnerships are the second most common type of pass-through business in the U.S., just behind sole proprietorships. That popularity stems, at least in part, from the ease of creating a partnership.
According to SCORE, a nationwide network of volunteer business mentors, partnerships aren’t a legal business entity. In some cases, they don’t have to be registered with the state. This is unlike corporations and limited liability companies (LLCs) do. Essentially, if you go into business with another person without incorporating, you’re in a partnership by default.
Despite that informality, forming a business partnership isn’t a decision to take lightly. Even if you don’t have a formal agreement, you have basic legal responsibilities to other members of the partnership. Such as:
Choosing a business partner is like choosing a spouse. You’re trusting this person with your financial investment and your future. That’s why it’s so important to choose your partner wisely.
So what kind of criteria should you look for? Consider these six questions.
What happens if you want to grow your business internationally, but your partner wants to keep it small and local? Not being on the same page about target market, investments and long-term strategy can lead to a lot of unnecessary conflicts. You and your partner should have similar goals for the future of the business.
Unless you already have an open relationship with your potential partner, you likely won’t know much oft their financial history. Going into business with someone with poor credit or shady financial dealings can get you into trouble. Consider having a potential partner submit to a background check and credit check.
People tend to want to do business with other people who have similar temperaments, skill sets and backgrounds. While this can be a good basis for friendship, it’s not always the best for a business partnership.
Look for a partner who is better than you at certain things. For example, if you’re the whiz with numbers, you might need someone who is a great communicator or leader. But, if your focus is big, long-term strategies, you might need a partner with excellent attention to detail. Bringing complementary skills together makes your partnership greater than the sum of its parts.
Partnering with your spouse, sibling or best friend might seem like a great idea to start. But proceed with caution when forming a business with someone with whom you already have a personal relationship.
According to a PWC survey, 23% of owners and executives in a family-owned business say they’ve never had a disagreement with their family members. Meanwhile, disagreements are a regular occurrence for 7% of family-owned businesses.
Close relationships can suffer if the business fails due to conflict. Which many do — data shows 20% fail in the first year alone. This isn’t to say that you should never do business with friends and family. But if you do, make sure you have a written partnership agreement. Outline responsibilities and how you’ll resolve potential conflicts.
Until you’re actually in business with someone, it can be tough to understand their work style or how they’ll react in difficult situations. If you don’t have any experience working with your potential partner, consider doing a trial run. You could work on a project together or hire them as a consultant.
This allows you to see how well they communicate. See if they pull their weight and work through challenges. If it goes well, you can formalize your business partnership. If it doesn’t go well, you have a chance to walk away sooner rather than later.
No matter whom you choose as your business partner, you need a written partnership agreement. This agreement spells out the rules for how the partners will manage their business. It includes responsibilities, investments, profits and losses, company management and conflict resolution. It can also address what happens when one partner wants to sell or leave the business.
Don’t skip the formal agreement because you’re starting a business with family or afraid of hurting someone’s feelings. A partnership agreement is always important. But it can be even more crucial when you’re starting a business with a friend or family member. Plus, a well-thought-out agreement can help lessen misunderstandings and preserve your relationship.
Each state has its own laws governing formal business partnerships. So it’s a good idea to work with an attorney who specializes in contract law. They can help you create a custom (and legally enforceable) partnership agreement.
Of course, hiring an attorney costs more than downloading a partnership agreement template you might find online. But a well-drafted agreement can protect your investment, efficiently resolve disputes. And it saves you tens of thousands of dollars in legal fees later.
Janet Berry-Johnson, guest blogger and author of this post.
The post How to Choose a Business Partner appeared first on Credit Suite.
As one of the largest e-commerce platforms on the internet, Shopify offers budding (and established) entrepreneurs a platform to sell their wares and increase their reach. In fact, Shopify dominates nearly 20 percent of the e-commerce market share. That’s not all. With millions of active buyers on the platform, there is plenty of opportunity for …
The post How to Become a Shopify Partner first appeared on Online Web Store Site.
As one of the largest e-commerce platforms on the internet, Shopify offers budding (and established) entrepreneurs a platform to sell their wares and increase their reach.
In fact, Shopify dominates nearly 20 percent of the e-commerce market share.
That’s not all. With millions of active buyers on the platform, there is plenty of opportunity for brands to grow their revenue.
In addition to a massive audience, Shopify offers users a simple, streamlined experience that allows store set up in record time.
When you join the Shopify platform, you have immediate access to functionality that allows you to:
In short, Shopify equips sellers with the tools they need to get their store off the ground.
Shopify benefits don’t only apply to online vendors—through their unique partnership program, individuals can align with Shopify to grow their business and increase revenue through a variety of functions.
Is the Shopify Partner program right for you? Here’s what you need to know.
The Shopify Partner Program is a set of tools and resources Shopify users can leverage to grow their business. This is done through four main categories:
Shopify Partners can also build and sell Shopify apps and themes to generate income.
In addition to the above different kinds of Partners, there are also different levels of partnership, including:
Given that one in three Shopify sellers seek services from Shopify Partners, there’s a real opportunity for you to supplement your income when you join the program. In addition to adding some extra padding to your bank account, Partners can access free training resources and perks, including:
The partnership also comes with access to an unlimited number of stores, so you can experiment to your heart’s content.
As a Shopify Partner, you gain exclusive access to offers on tools that can help you run and grow your business. Once you have your dashboard set up (more on that later), select the “Partner Perks” section and select the “Claim perk” button.
Even better, when you sign up to become a Shopify Partner, you create opportunities to scale your business. Regardless of whether you’re a well-established agency or an individual setting out to grow your skills and client base, enrolling in the Shopify Partner program is a great growth opportunity.
Sound good?
Let’s break down how you actually become a Shopify Partner.
The Shopify partnership comes with plenty of perks we’ve already covered, but there’s one overarching benefit we haven’t covered: Becoming a Shopify Partner is free.
Now that you have a better understanding of the value associated with a Shopify Partnership, follow these five steps to start growing your business today.
This blog explores the surface-level of a Shopify Partnership, however, you’ll want to spend more time on the Shopify partner page to read the blog and learn more about partner perks and features.
This is the easiest step yet! Simply head to the sign-up page and enter your name and email address and wait for your verification.
After creating an account, you’ll receive an email asking you to follow a link to verify your email address. Be sure to do this within 24 hours, as the window for response closes after that timeframe.
After you select the blue button to confirm your account, you’ll land on the Shopify accounts page. From there, choose “Shopify Partners” and then “Create new partner account.”
Now that you’ve successfully set up an account, you must complete a form that asks for the specifics of your business. Complete all the necessary fields.
After this step, scroll down to the “Business goals” section and choose the function that best suits your offering. Here you can select:
After you’ve selected the right category, scroll down the page until you reach the section about platform usage. Here, you’ll identify which platforms you’re currently using, allowing Shopify to equip you with custom tools.
Categories include:
After selecting the relevant category, read the Partner Program Agreement at the bottom of the page and check the corresponding box.
Your dashboard is the hub of your Shopify business. To get started, select the Shopify Partner programs you’d like to apply to from the “Get started” section.
A short form will ask you to explain your interest in each program.
Even if you’re not accepted into a program immediately, you can still use your dashboard to grow and hone your skills. With endless courses available from the Shopify Partner Academy, you can earn certifications in Business Fundamentals, Theme Development, App Development, and Product Fundamentals.
You can take the accompanying test as many times as you like, all while using the resources provided through the Shopify Partner Academy to increase your knowledge base.
After receiving your acceptance to one of the Shopify Programs, you can start earning some cash. Payments occur on a bi-monthly schedule via PayPal.
The Partner Dashboard is also your source for all questions. From the portal, you can contact Shopify support whenever, wherever to get your questions answered.
You’ve set up your dashboard, been accepted into a few programs, have been working for a few months, and now you want to know how successful your Shopify partnership actually is.
While there are countless metrics you can use to track the success of your endeavors, here are six key figures to assess the strength and success of your partnership.
This metric is exactly what it sounds like: a measurement of how many leads converted into customers in a specific period of time, generally within 30-day increments.
Significant due to its ability to highlight how successful your campaigns are at turning attraction into actual leads, your lead conversion rate is a must-track metric.
How do you calculate lead conversion rate? The formula is pretty simple, as long as you have the numbers.
Lead Conversion Rate = (Number of new customers in the last x days ÷ number of leads in the last x days) x 100
This figure is representative of real-time sales performance. Given its predictive nature, the metric is perfect for forecasting revenue growth.
How do you calculate lead velocity rate?
Lead velocity rate = (Number of qualified leads this month – number of qualified leads last month) ÷ number of qualified leads last month x 100
This metric represents revenue, rather than what is actually actively collected. A good indicator of success, MRR lets you know if your leads are converting to actual customers within a finite time span.
How do you calculate MRR?
MRR = Number of customers x average billed amount
This metric refers to the number of customers who stop using your service during a specific time frame. Churn rate is a valuable metric to determine if your marketing strategies and onboarding process is effective.
How do you calculate churn rate? There are two types of churn rate:
User churn = (Cancelled users in the last 30 days ÷ active users 30 days ago) x 100
Revenue churn = (MRR lost to downgrades & cancellations in the last 30 days ÷ MRR 30 days ago) x 100
Use this metric to learn how much revenue you’re creating from each individual user. This statistic is valuable to assess marketing successes and failures and forecast revenue goals.
How do you calculate ARPU?
ARPU = MRR ÷ active users
This metric represents the amount a user will spend on your service throughout the course of your relationship. This figure helps you assess whether it is more valuable to maintain existing customers or pursue new ones.
How do you calculate LTV?
LTV = Average monthly recurring revenue per customer ÷ user churn rate
I recommend monitoring these figures on a daily, weekly, and monthly basis for a comprehensive view of your success. These metrics let you identify patterns and see if improvements succeed so you can adjust your approach as needed.
Shopify’s continuous growth shows no signs of stopping.
For any digital marketers, developers, or graphic designers, becoming a Shopify Partner offers an opportunity to broaden your portfolio, sharpen your skills, and earn some extra cash.
If you’re looking to increase your client base and your revenue, Shopify might be the place for you.
If you’re considering wading into the world of Shopify partnership, be sure to actively monitor the right metrics and ignore vanity metrics that have little impact on overall success.
What part of the Shopify Partner program is most useful to you?
Does your company manage Google Ads for third parties, and do you maintain some success with the pay-per-click (PPC) platform? If so, you may want to become a Google Partner, the search giant’s members-only club.
Joining the Google Partners program can provide you with immense benefits, such as specialized training, invitations to exciting events, and focused instruction to help you boost your Google Ads performance.
You already know Google Ads work. They convert 50% better than organic traffic, and most businesses earn double their ad spend, making advertising on Google highly effective and a no brainer.
Almost anyone can use Google’s PPC system to advertise on Google and grow their business (with the right budget and know-how).
Only a select few applicants become Google Partners and earn the world’s most popular search engine’s endorsement and other significant benefits.
Here’s what to know about becoming a Google partner.
The definition of prestige on the search engine’s paid advertising platform is a Google Partner badge. Displaying the badge on your site shows that you’ve passed Google Ads product certification exams. It also tells customers you possess in-depth product knowledge, making you a Google PPC superstar.
As a Google Partner, you have the option of specializing in one or more Google Ads product areas. These include Search Advertising; Video Advertising, Display Advertising, and Shopping Advertising.
Let’s run through them one by one.
Applying to become a Google Partner is free, and anyone can try to join the program. Google gives you all the information you need to pass the exams and flourish in your chosen certification area. Whether or not you pass the certification exams is up to you.
Google wants you to pass the exams and be successful in your Google Ads endeavors. To help you out, Google gives you access to a range of essential benefits, including education, support, expanded reach, and other rewards.
Google has pulled out all the stops to ensure you get the best Google Ad education possible. Skillshop learning courses help you develop and hone your skills, while certifications are provided to prove your knowledge. Google also makes available a host of valuable case studies, access to like-minded professionals, and much more on Think with Google and Google Trends.
Google’s product support is available to help you by giving you access to relevant advice and a range of resources, including Google Ads Recommendations and Google Ads Help Center.
With Google Connect, you can display your thought leadership and host co-branded events. You can even onboard new clients or pitch potential ones with Google Ads promotional offers.
Google’s Acceleration program is a specialized online education system designed to help you boost your skills and business growth.
By taking part in the Google Partners Rewards program, you get a chance to expand your knowledge by engaging in a series of quarterly challenges designed to help you gain new clients, optimize campaigns, or obtain certification. You even get access to seasonal insights, pitch decks, product advice, and a suite of other exciting rewards. You also have a chance to win prizes.
The first thing you’ll need to do is pass the required Google Ads certification courses for your specialty areas. You must also meet the spend requirement across your managed accounts.
Finally, you must demonstrate performance by consistently delivering strong client and company growth. In other words, you must become an active and exemplary Google Ads user.
Once you’ve become a Google Partner and have demonstrated your expertise in Google Ads, you can be considered for a Partner Badge. You’ll need to meet a few additional requirements to apply.
You must consistently show advancing ad revenue and growth, as well as an expanding customer base.
You must meet a 90-day ad spend requirement of $10,000 across your managed accounts. This sends a message to Partners that your company has a healthy level of activity. Google Partners will evaluate your account based on your manager account during an 18-month period.
Your company needs one user certified in Google Ads who has admin or standard access to the Google Ads manager account. It can also be any account linked to your manager account.
Be prepared for a new set of rules to qualify for a Partner Badge. Many of the basic rules will still apply, but you won’t be required to adopt all the recommendations or achieve a 100% optimization score to earn a badge.
Going forward, you must achieve a 70% optimization score to qualify. Google introduced this optimization score to help users understand what was working and what wasn’t, and how to fix elements that weren’t performing.
Pay close attention to any suggestions Google gives you, as advertisers who increase their optimization scores by 10 points see a 10% conversion boost, on average.
To qualify for a Google Badge in 2020, your Google Ad spend must be at least $10,000 in 90 days. In 2021, this requirement will change to a $20,000 ad spend over 90 days, across your managed accounts, to prove your company maintains healthy advertising activity.
This year, In 2020, your company needs a user to certify in Google Ads or have standard access to the Google Ads manager account. In 2021, half of your eligible users will have to obtain certifications from Skillshop. As a partner, you’ll need to demonstrate your proficiency consistently.
To meet the requirements for a Premier Partner Badge, you must deliver strong Google Ads revenue and growth, meet a higher ad spend across your managed accounts, and have two or more users in your company who are certified in Google Ads (or who have admin or standard status on your organization’s Google Ads manager account).
In 2021, once your company has succeeded in earning a Google Partners Badge, you have an opportunity to be chosen for Premier status. The program will grant Premier status to the top 3% of participating companies each calendar year. The companies are selected based on annual ad spend, client growth, client retention, and other information. The evaluation process is conducted annually and may exclude some markets.
When you become certified as a Google Ads Partner, you’ll be listed in the Marketing Platform Directory. Your listing will include your business name, a short description of your organization, partner type, and the product certifications you possess.
There are two types of marketing platform partners: Certified Companies and Sales Partners.
This descriptor means you’re educated about Google Marketing Platform products. You’re able to use your expertise to offer quality services to your customers, whether you’re consulting, training, implementing Google products, or offering technical support.
Certified Companies that help Google sell products are known as Sales Partners. Becoming one gives you access to special perks such as customer management tools, sales opportunities, and co-marketing opportunities.
Familiarize yourself with Google’s Partners Terms and Conditions. It is essential to read the document when you get time. You have a lot invested in Google Ads. The better you know the rules of the game, the more successful you can be at it.
Google will ask for your company’s size and structure, the services you provide, and pricing practices. You’ll be judged on your track record of client satisfaction and your consistent Google Ad investments’ success.
The reason for this level of scrutiny is that Google wants to work with forward-driven companies that maintain a healthy ad budget and use it wisely.
Google vets you for Partner certification by scouring the web for clear documentation that proves client engagement, planning processes, frameworks, and templates. Google wants to know your clients can rely on you for complex solutions and receive pleasing results.
Lastly, your website should be populated with useful content that clearly describes your offerings.
Certification rules stipulate you must have at least five local, full-time experts working with Google Marketing Platform products. Each must have passed an associated certification exam.
Google considers your team’s size, expertise, and rate of certification. The company notes that it does make exceptions for smaller companies who have difficulty meeting this particular requirement.
You’ll also need to submit a comprehensive review of each product you offer. The review is meant to represent advanced work that shows strategic planning and optimization toward your organization’s goals.
The review will also display your ability to go beyond basic or standard implementations and use and demonstrate your client’s goal through statistics and testimonials.
Google essentially wants a case study that proves you can walk the walk.
You applied for the Partners Program, and you’ve been waiting, but haven’t received a response. Take action and check the status of your certification. If you don’t receive certification, keep trying and using the resources Google gives you. Do that, and you’re sure to become a Google Partner before long.
Being vouched for by Google and having a Google Badge to show for it are just two of the benefits of becoming a Google Partner.
Being a Google partner also gives you access to easily consumable courses. Google gives you everything you need to maintain a Google Ads campaign and keep it growing far into the future.
And when customers see your Google Badge, watch out. That may be all they need to choose you for the successful future of their Google Ad campaigns.
Have you tried joining the Google Partners Program? What was your experience?
The post Become a Google Partner and Join the Google Ads Inner Circle appeared first on Neil Patel.