No man is an island … and no business is either. In order to maximize your business growth, you’ve got to make the most of your relationships. Building and maintaining strategic partnerships with other businesses is the best way to get more business. And often, all it costs is social capital — which anyone can cultivate.
This week, our resources are all about what you can learn from companies who’ve leveraged this social capital and made killer partnerships. Take a page from their book and grow your business!
Tune in to Strategic Business Partnerships
Nothing else has quite the same impact that a quality strategic partnership will have on your business. This week, we delve into one prominent, strong business partnership that’s worth learning from: the one between Uber and Spotify.
How to find the Right Co-Marketing Partner
As great as relationships with partners can be, you should go into them with both eyes open. There are a lot of factors that go into a successful partnership. Imagine sitting down and telling one of your best customers about the company you might partner with. What kind of reaction would you get? You can’t afford to endanger your reputation or compromise too far in pursuit of a strategic partnership — even a highly promising one. Use this article to help you research potential partners and find that important balance between profitability and maintaining your brand identity.
4 Tips to Go Further, Faster With Strategic Partnerships
Once you understand the value of having a range of great strategic partnerships in place, it’s time to go get them. You may be surprised at how quickly you can come up with a list of potential partners for your business, but actually following through and building a successful relationship with them all is a lot more involved. From identifying the right opportunities to negotiating terms, this Entrepreneur article gives you some great insights on going further, faster with partnerships!
What businesses does your industry interact with the most? How can you build a bridge between their success and yours? I’m hoping that this week’s food for thought pushes you to answer these questions for yourself, to find out how you can take advantage of the explosive power of partnerships!