Home
>
Small Business
>
Growing Your Small Business Through Alliances and Joint Ventures

Growing Your Small Business Through Alliances and Joint Ventures

-- Beyond Cold Calling, "Warm" Calling and Sending E-mails --

Many Solo Entrepreneurs work from a home office. Our only connections to the outside world are the internet / e-mail and the telephone. Cold calling, "warm" calling and sending e-mails may seem like the most obvious way to let people know about us and to generate sales. But, there's another way that works even better.

An alliance is usually an agreement between two businesses whose services or products compliment each other. Each agrees to recommend the other's services to their respective clients and to pay a percentage to the other if the referral results in paying work. Let's say you're a marketing expert, but you don't do public relations. However, sometimes your clients require public relations as part of their marketing strategy. You meet with several public relations experts who specialize in different fields, but who don't offer your type of marketing services, and you form 3 alliances. A 10% commission is what you agree on for mutual referrals that result in work. Now, both you and your alliance partners are more "full service" providers. You can offer PR services to your clients and your partners can offer marketing services to theirs through you. In addition you could add them as "partners" on your website, giving your company the advantage and versatility of an expert team. It's a win - win situation.

A joint venture is formed when you not only have an alliance but you come up with a strategy to find customers together. Suppose you make custom window treatments. You decide to speak to a local fabric shop that specializes in upholstery and window fabric. If you could be their exclusive referral for customers that need someone to make their fabric into beautiful draperies, and you are willing to pay them a commission for each referral, what happens? They can say they now offer a new value-added service to their customers, which may mean a customer chooses their store above another. You have a steady source of customers. You may even get them to display some of your draperies made with their fabric in your store. They agree to allow you to advertise in their store, perhaps even offer a workshop, and you'll recommend them exclusively to your clients. You may even advertise together. The possibilities are limitless.

There are numerous ways to put together alliances and joint ventures. Thinking outside the box and being clear about what benefits both parties would receive are essential. As always, getting the agreement in writing is a good idea, as is being sure the person you're dealing with is honorable and reliable. And try to discover ALL the alliance possibilities that exist for your business. Our custom window treatment business owner above could also contact interior designers, furniture stores, residential real estate agents, home builders sales offices and even paint stores. So, what are you waiting for? Start today by:

-- Making a list of at least 5 prospective alliance partners.

-- Making a list of 5 ways the alliance would benefit them and you.

-- Making a list of 5 ways you could implement the alliance. start making contact!

One Final Note ? some people have asked whether or not to disclose the partnership to the client. Sometimes it's obvious that you are referring a client to your alliance partner, as in the case of the drapery maker and the fabric store. If it's not so apparent, you may want to simply inform your client that you will be working with your alliance partner who is an expert in their field. For the sake of consistency, how much to explain to a client is something that you and your partner should agree upon up front.

____________________________________________

Janis Pettit member of Team Solo-E (http://www.solo-e.com) and President of SmarTrack (http://www.solo-e.com), which specializes in improving profit and productivity through small business marketing and growth consulting, business coaching, workshops and tele-classes. Janis is co-author of 136 Ways to Market Your Small Business. Her dynamic Big Vision Roadmap series includes a Mastery Program for small business, Big Vision Roadmap to Sales, Big Vision Marketing and Leadership, plus an upcoming book. In addition to owning four successful businesses over the last 18 years, Janis has worked with scores of small businesses owners and independent agents, as well as larger corporate clients such as IBM and Becton Dickinson. She hosted her own TV business talk show in New York, has motivated hundreds of professionals through public speaking and workshops and her articles have been published both locally and internationally. Janis can be reached at 919-562-2280.

____________________________________________

*********** Find more articles like this at http://www.solo-e.com ? Keeping Solo Entrepreneurs Juiced in Business and in Life. Our team of Solo Entrepreneurs are comprised of small business experts who support others in finding business success with the flexibility and freedom to have a life, too. Network with other freelancers, self-employed and Solo Entrepreneurs in our forums, enjoy our articles and newsletter, and find other online training opportunities. ***********

best cleaning company Highland Park ..

In The News:

Smart home hacking fears overblown? Expert reveals real cybersecurity risks and simple protection tips to keep your connected devices safe from hackers.

MIT develops needle-free glucose monitor using light technology. Revolutionary device could replace painful finger pricks for diabetes management.

The ClickFix campaign disguises malware as legitimate Windows updates, using steganography to hide shellcode in PNG files and bypass security detection systems.

Researchers from Osaka Metropolitan University designed a 21-foot dome that combines aquaculture and hydroponics to create a self-sustaining urban food system.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

ChatGPT data breach exposes personal info of users through partner Mixpanel. OpenAI confirms names, emails compromised in security incident.

Android rolls out Emergency Live Video for 911 calls, letting dispatchers see real-time scenes during emergencies. Great for holiday travel safety.

Malicious Chrome and Edge extensions collected browsing history, keystrokes and personal data from millions of users before Google and Microsoft removed them.

Google's new Call Reason feature lets Android users mark calls as urgent before dialing, displaying an urgent label to recipients using Phone by Google app.

Medical history made as surgeons successfully restore sight to legally blind patient using world's first 3D printed corneal implant grown from human cells.

Data brokers aggressively collect your holiday shopping data to fuel scams and targeted ads. Learn how to delete your digital profile before 2025 starts.

Scammers are sending fake MetaMask wallet verification emails using official branding to steal crypto information through phishing links and fraudulent domains.

Learn what background permissions, push notifications, security updates, auto-join networks and app refresh mean to better manage your phone's privacy settings.

Criminals test stolen data by applying for deposit accounts in victims' names to prepare bigger attacks. Learn why banks won't share fraud details.

New study of 10,500+ kids reveals early smartphone ownership linked to depression, obesity, and poor sleep by age 12. Earlier phones mean higher risks.

A phone phishing attack compromised Harvard's alumni and donor database, marking the second security incident at the university in recent months.

AutoFlight's zero-carbon floating vertiport uses solar power to charge eVTOL aircraft while supporting emergency response, tourism, and marine energy maintenance.

A new phone return scam targets recent buyers with fake carrier calls. Learn how criminals steal devices and steps to protect yourself from this fraud.

New Anthropic research reveals how AI reward hacking leads to dangerous behaviors, including models giving harmful advice like drinking bleach to users seeking help.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

Holiday email scams, including non-delivery fraud and gift card schemes, spike in November and December, costing victims hundreds of millions, the FBI says.

Holiday visits offer the perfect opportunity to help older parents with technology updates, scam protection and basic troubleshooting skills for safer digital experiences.

Swiss scientists create grain-sized robot that surgeons control with magnets to deliver medicine precisely through blood vessels in medical breakthrough.

Researchers exploited WhatsApp's API vulnerability to scrape 3.5 billion phone numbers. Learn how this massive data breach happened and protect yourself.

Travel companies share passenger data with third parties during holidays, but travelers can protect themselves by removing data from broker sites and using aliases.