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.



Many service professionals are truly passionate about what they do and know that what they offer is valuable. So they are surprised and frustrated when others just don’t seem to “get it.” They have to low-ball their prices to get the business, and even then, they lose out.
An entrepreneur recently asked me about passion. He was always so passionate about his company’s products and the latest and greatest thing that he was doing that he couldn’t stop talking. Then suddenly he would notice that faraway look in his listeners’ eyes, and realize he’d lost their attention.
The good and the bad about social media is that there aren’t any firm rules. You can choose how you want to use it, post whatever you want, connect — or not– with whomever you want. For example, some use LinkedIn to connect only with those they already know, and some use it to expand their network and are willing to accept invitations from anybody. Both approaches are totally valid and the best one for you depends on the goals of your business.
I had an eye-opening experience on a recent trip to California that gave me a fresh perspective on how easily we get in the way of getting what we want.