What are Strategic Partnerships and Why Should I Care?

Strategic Partnerships are simply two or more business owners working together to create WIN WIN results for both of them.

They are the most powerful way for small business owners to grow their business.

How do they work?

Strategic partnerships give you additional reach and leverage to achieve your business goals.

You can use strategic partnerships  to help you to get more leads, improve your conversion rates and increase your profits.

Here are four ideas to try.

Look for someone in a complimentary profession who already sends a regular newsletter to people in your target market. Offer to write a regular hint or tip to include in their newsletter that would add value to their readers. See how many more leads you generate.

Develop a relationship with someone whose clients sometimes have the problems that you solve. Make it easy for them to identify and refer those clients to you. (It could be as simple as giving them a checklist of things to watch out for and a pile of your business cards) See how many more customers you get. (Oh and of course remember to offer to do the same for them)

Find someone who has a product or service that your customers would appreciate as an added extra. Include it as an up-sell at the checkout or when you close the sale (would you like fries with that?) and see how much you can increase your BOTH your profits.

Think about what you purchase that would be more affordable if you could buy it in bulk… then find someone else who buys the same stuff and team up with them. See how much you can reduce your costs.

Alone we can do so little; together we can do so much.

Helen Keller