Sept. 8, 2025
Strategic Partnerships and Joint Ventures
Developing partnerships with companies that sell to the same customers as you do is a powerful tool.
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Hi, you love done to the censure.
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Fore wow for you your.
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Yo. It's the pipe Man and I'm back for Motivational
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Monday and positively. Pipe Man here on the Adventures of
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pipe Man with our expert guest on today's segment. Let's
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welcome Michael Barbarita. How are you, Dan, I'm doing great.
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I'm doing great. I understand we're going to talk about
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some strategic partnerships and joint ventures today and we kind
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of almost have that and that because you're a consistent
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guest on the Adventures of Pipe Man and giving people
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the amazing powerful business strategies that you have in your
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book and that you share with your business. Next step
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CFO excellent.
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Yes, so yeah, sure so.
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Changing partnerships and joint ventures is a highly neglected area
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because people have a tendency to be embarrassed about asking
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about how to form partnerships, and if they actually do
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ask on how it go about to form partnerships, it fizzles.
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Uh.
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Many times they'll say, you know, we'd be we'd be
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great working together and doing this type of thing, and
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and it and it stops basically right there. And the
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key to really developing these relationships is to have frequent
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meetings and have both people being committed to doing something
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that moves the partnership forward. Uh, that's where the missing
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that's the missing link in a lot of these because
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normally it's just conversation and sometimes even both sides get
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excited about it, but it still buzzles out there because
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you know, no one wants to actually do the work
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or take the initiative to jot down what needs to
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happen for that.
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Partnership to really materialize.
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And a lot of people also find it difficult to
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recognize who would be a strategic partner. And one of
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the best ways to do it is who who purchases
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your product before and then who purchased your product after.
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That's that's the best way to formulate who in fact
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could be a strategic partner. But also you know generally
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who sells to the best, who sells to the same customers.
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For example, in my business, CPAs sell to the same
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customers that I sell to. Now, CPAs for the most part,
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do taxes and look at things from in a historical perspective.
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We're a CFO and a strategic implementation specialist. Like we are,
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we are forward looking and we help implement strategy and
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and those strategies some of the strategies the CPA certainly
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knows about, but does it really show the business own
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to how to implement. See, there's a big difference between
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learning and implementation.
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You know, Google can give you all the learning and AI.
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You'll you'll know everything you can do. You can find
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anything there in terms of learning, it's it's actually implementing
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the strategies or you know, and implementing these things to
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to be able to progress your business.
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And that's really the key.
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And with strategic partnerships and joint ventures, what we suggest
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to our clients who we because we feel strongly in
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the development of them and the implementation of them, is
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that they take the lead in coming up with the
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plan and giving up the responsibility between themselves and the
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new and their partner, because if the partner doesn't get
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involved in it, and if one side does all the work,
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it fizzles again, it fizzles again. So when both sides
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are doing the work and both sides are invested, it's
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it works. It works, It works really really well because
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you sell it to the same base. You're doing different products,
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but you sell it to the same base. Yeah, and
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it really works extremely well.
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I think some people also are hesitant to do it
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because they like hold on to their business like with
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a very protective hold, and they're worried about these people
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that they're partnering with are going to be, you know, competition,
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but as you explain, they're not competition. They're not going
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after the same dollar as they're not going selling the
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same services or products, but they are selling complementary or
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related that. You know, these clients they're going to use
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that type of person anyway in addition to you, so
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it might as well be a joint venture or partnership,
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so it makes it easier on them on you, and
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everybody wins, right.
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And you know, like in my business, a CPA is
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perfect because number one, you know, we're definitely working with
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the same customer at our client and so when there's
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problems from a tax standpoint, I go right to that
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CPA and we work. Sometimes we're on the same meeting.
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Many times we're on the same meeting with them. You know,
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I'm explaining where the business is from a from a
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forecasting and strategical standpoint, and they're telling and they're telling
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us what types of tax strategies that should think about
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as we move forward, and it's all forward and that
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pot is forward looking with the tax planning, you know,
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getting the CPA involved the tax planning, so that works,
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That really works famously. And you know, the other thing
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that's happening in the marketplace Dean is with CPAs is
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that the average age of a CPA is pretty old
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right now, and this new generation is not majoring in
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accounting in college anymore because the hours are bad, okay,
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and and this generation does what to work a lots
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and being a CPA. As you know, during the tax season,
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the tax season is longer than just a you know, March, February,
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March and April extensions that goes into July, August, September, October,
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you know, for for tax preparation. So it's a more
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significant period of time than just those and so the
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hours become real difficult. And because of that, there's less
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people that are getting it's a tax preparation. And so
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there's a prediction out there that seventy five percent of
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the CPA firms that are out there right now will
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be gone at level.
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I believe that wholeheartedly, and I'll tell you why. Because
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I majored in accounting originally when I in pre med
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in college, and then I changed the business because the
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accounting was way too narrow. But also while I was
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going to college, I was a financial planner, and I
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remember so clearly going on a client meeting with a
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CPA to do a financial needs analysis of their portfolio,
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and I was like, Oh, why am I doing an account
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I make more money than this guy and he's been
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doing it for ten years and I'm still in college,
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And so that really changed my mind. For my generation,
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you know, it's like it's a It's like you said,
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it's long hours, it's a lot of work, it can
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be boring work, and the pay isn't as much as
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people would think. And that CPA exam is the hardest
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exam you could probably probably take, you know, like between that,
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the CFP and the BAR, those are the top three
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hardest exams you can absolutely And it's funny because I
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was CFP and you learned a lot of the counting
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principles in CFP. And I even saw CPAs fail the
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CFP the first time that the final exam, which a
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lot of people do, and it just made me open
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my eyes at hey, exactly what you're talking about now,
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I think there's somebody that could be in the business
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and doesn't have to just be a tax repairer or CPA.
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Right right.
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You know a lot of the CPAs now going into
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tax planning only, which is helping them in terms of
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ours and helping them in terms of even revenue per client.
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So because tax the historical nature of the CPA is
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hurt in the industry. Okay, where you know the CFO
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or tax planner even is future?
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Yeah, what you know, it's it's forward looking.
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That's fine. You should say that because one of the
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segments in CFP is tax planning. So I used to
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partner with CPAs because they were a great center of
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influence and cpa is always wanted to get involved in
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the investment side, but they weren't licensed to do so,
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nor did they understand it. So that's why they would
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partner with people like me.
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Interesting.
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Yeah, and so a quick example of of of a
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strategic partnership that has a long chain is something like
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I call it the wedding mafia.
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You know, you have the jeweler.
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You know, you have the jeweler, then you have the
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banquet you have the person who sings at the church.
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You have the reception GJ you know their actual reception place.
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Uh the honeymoon. Uh. So you could just it just it.
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That's just perfect because there's referrals up and down the
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line all the time and that works incredibly well. But
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but but putting that together takes time and effort and
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energy from everyone in the chain.
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Yeah, totally another example too, like people, it's real estate.
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They have partnerships with attorneys, hit with title companies, with
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mortgage companies, with you know, it goes, it goes all
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the way down the line, everything you would need to
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buy a house. So yeah, partnerships and joint ventures just
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they're beneficial for everybody.
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Absolutely absolutely, and so and those are my examples. So
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you know we're on this podcast now, but there's more
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information that can be had, especially what we what we
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do with our business with strategic implementation, and we can
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show you step by step process on how to We
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can give you a step by step roadmap on how
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to go about informing these partnerships and they're very productive.
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Oh god.
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And just like driving somewhere, you need a GPS to
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know where to go. And that's why they need to
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reach out to you because you can provide them that
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GPS roadmap. So how do people reach out to you?
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How how do they get involved with you that they
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could get more information about this and even like check
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out your book and even all the other and you
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have something special to offer them too, so let's tell
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them about.
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That, right, Yeah, So you could go to NeXTSTEP CFO
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dot net. You could download our book for free. It's
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our contribution to the business world. All of our strategies
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are in the book, both business strategies and financial strategies.
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But we'd love to do a book interview because what
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we do is because business is always changing, and we
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update our book every year or so and so with
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different things that are happening in the economy, like now
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tariff's you know, interest rates, we don't know if they're
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going down. They get pressure to come down, but we
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don't know. With all this uncertainty, we like to keep
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our book updated and we know our strategies work. We
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just like some industry information to prove what we already know.
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And so when we interview people, we interview it from
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an industry perspective. We asked them, it's real great it's
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real quick. It's sixty minutes on zoom. I present strategies
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for that book, and then we asked the interviewee, the
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business owner, if the strategy was to be implemented in
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your industry, what would the impact be? And then I
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document it for the book. And that's it, and you
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can go to NeXTSTEP CFO dot net, forward slash contact,
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fill out the contact forman in the message section put
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the words book interview, be happy to contact you.
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We could get it scheduled nice.
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Well. Once again your wealth of information here on Positively
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Pipeman segment of the Adventures of pipe Man here on
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W four CY Radio. And I urge our listeners to
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reach out to you because you can help them in
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so many different ways, not just this subject. So thanks
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Michael Barbarita for being here, and thanks for being on
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the Adventures a Pipeman.
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Thank you for having me.
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Jane, thank you for listening to the Adventures of Papemin
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iw CUI Radio.
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