At Auspice, this month marks a big step for us. We have taken a leap that has been in the works for some time, forming a strategic partnership with an exciting firm with great people.  While we have considered this type of a union a number of times, we had never found the right fit.  As we went down this path with this partner to be, the choice became more obvious and confidence inspiring.

As an entrepreneur, the core of your being is stepping out on your own. In the beginning, you are ready to "go it alone", taking ownership of all the successes or failures to follow. It’s about this point one realizes that this can be a lonely pursuit.  No one knows who your new company is, as they don't recognize the brand, even if they know some of the people involved.  You may commit to doing something unique and innovative which attracts interest, but there are few opportunities for "partnership" in the beginning.

Even in pre-COVID times, there was a lot of isolation as an entrepreneur. As an asset manager, many of your clients are in other cities or countries. Historically, relationships take years to develop - many meetings, a lot of hotel and plane time. As such, collaboration with clients often takes on a special meaning as it not only tries to solve a problem, but it connects you to the client on an emotional level - a common purpose. We have often expressed our focus on client relationships as key, taking great pride and we view these as partnerships.

You quickly realize the value in having partners in many other regards. It could be for distribution of your good or service or help with expertise outside your focus (eg. marketing and sales).  You seek this out and often time find ways to "work with" other companies for mutual benefit - perhaps managing and promoting a product, each doing their part.  However, this type of partnership is not the same as one that has an equity stake and vested interest in your long-term success.  Even once your brand is established, industries are riddled with bias and barriers based on size, track record, geographic location and clientele. Getting past this takes time and perseverance. 

To find a partner that recognizes the challenges, can see the opportunities and wants to put their skin in the game for our combined success, is both affirming and gratifying. It’s a bit like finding the missing piece of the puzzle you started.

We are fortunate to have found a partner whose goals are aligned with our own. We still have the same energy and drive to succeed, but now we have a partner that can help us take Auspice to the next level. Stay tuned for an exciting announcement this week.

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