Develop strategic partnerships to build your small business

As a small business owner, it is very tempting to think that you can do everything by yourself.  You can, but you are only making the road to success more difficult to travel.

One way to make your business life a little easier is to develop strategic partnerships with complementary businesses.  Some examples of these partnerships include:

  • Event planners, event decorators, florists and bakers teaming up for events
  • Business consultants, attorneys, accountants and financial advisors helping business owners
  • Copywriters, publicists and graphic artists working to promote professionals

I think you can get the idea from these examples.  By developing these partnerships, you not only have a strong network of professionals to cross promote with but you can also coop on advertising and marketing products.

At one point I think our society became so self involved that most people began to believe that they didn’t need anyone but themselves to get things done.  That is partly true but things actually go along a lot better when you are working in a team.  There is a reason that large corporations spend thousands of dollars on team building exercises.  In every corporation, the departments work together to fulfill the mission of the organization.  Think of your small business as a department of a larger corporation.  You should find partners that can help you to provide an all-inclusive service package to your customers.  People have a limited amount of time so if they can find a small business that is able to deliver on all of their needs, you are more likely to have a long-standing customer.

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2 thoughts on “Develop strategic partnerships to build your small business

  1. Yes LaKesha . You are correct. Balance and leverage is the key. This will allow everyone to play on their strengths and offer a great product or service to the customer.

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