Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Peter Smith, Founder of Lion Partnership, located in Oakville, ON, Canada.
What's your business, and who are your customers?
Lion Partnership is a collective of Automotive Experts founded by Peter Smith for the sole purpose of creating a better atmosphere and ecosystem for dealerships to operate. We can audit, assess and implement strategies and software that will build successful processes driving improved ROIs, Customer Experience, and Employee Engagement leading to increased retention of both clients and staff.
Tell us about yourself
Forty years ago, I started in the automotive industry from a love of cars. Every year I progressed in value to both my employer and clients by growing in understanding of how to best serve my community. My motivation was always to be the best at what I did, and it served me well from a voracious quest for self-improvement, work ethic, and set morals. These traits were magnified by the people I chose to surround myself with. Throughout my career in the industry, I grew in standing to the point I chose to retire in 2021; however, with an unfortunate incident, I was driven to start the Lion Partnership in December 2022 as I saw a need for leadership within every category of the business.
What's your biggest accomplishment as a business owner?
As the founder and having a clean slate to work with every movement forward is an accomplishment. Starting the business, creating a digital presence, growing a network, getting your first client, and being recognized are huge milestones.
What's one of the hardest things that comes with being a business owner?
Understanding monetization is by far the hardest thing when coming to being a business owner. What do you charge for your services, where is the value proposition to the client, how do you define ROI, etc.? These are what keep most businesses in survival mode rather than growth mode.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Understand your business fully before launching it, and research every aspect of it in the marketplace so you can answer all questions and concerns without hesitation, showing you are the expert in your arena.
- Have a firm grasp on your digital presence; your web page must be able to draw interest, have a social media plan, and be consistent; finally, get on as many podcasts as possible in your industry to show you are the go-to person/company for success.
- Develop a plan for monetization. If you are in an industry that requires pioneering understand the costs and includes that in your business plan. Without a plan, you will fail regardless of how good the concept is.
Where can people find you and your business?
Website: https://www.lionpartnership.com/
Facebook: https://www.facebook.com/lionpartnership/
Instagram: https://www.instagram.com/lionpartnership/
LinkedIn: https://www.linkedin.com/in/peter-smith-66835116b/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
Turn your craft into recurring revenue with Subkit. Start your subscription offering in minutes and supercharge it with growth levers. Get early access here.