Profitable Partnerships to Power Your Business Growth
One of the key things I work on very closely with my clients is building strategic relationships. I believe that the more you try to do on your own, the longer success will take, and that’s why I’ve been so passionate about spreading the message of Smart Networking.
Referral partnerships, joint ventures and other forms of collaboration with like-minded professionals can help connect you to a stream of new clients without your having to do as much work.
Here’s an example: If I meet an insurance agent at a networking event who wants to follow up with me to talk about my insurance needs, I’ll probably politely decline. But, if my financial planner says to me, “Go speak to this insurance agent, you really need to think about this right now, here’s his card,” then I’d do it. Because someone I already trust and who knows my situation is suggesting that I do so.
When prospects are pre-sold on working with you because of a strong recommendation from your networking partner, this shortens the sales cycle for you tremendously.
As a speaker, I look to form partnerships with companies who have an audience but need content, and where we can work together year in and year out. When both of you can contribute something that the other needs, that’s a win-win, and can help sustain your business for the long-term.
Here are some examples in other professions where partnering for referrals can help all the way around:
- Real estate agent, interior designer, landscape architect
- Wedding planner, florist, caterer
- Nutritionist, masseuse, personal trainer
What kinds of strategic partnerships can YOU form to help you bring in a steady stream of new clients? Here are 3 questions to get your thinking started:
- What kinds of businesses serve the same audience you do?
- Whom do you already know who is a leader in their field?
- What other products and services do your clients need?
An important additional benefit of building strategic partnerships is in the eyes of your clients, you move from being just a vendor who looks out just for himself, to a trusted advisor who looks out for THEM and connects them to the best people.