I run a small meeting, events and meeting planning company based in New York City area. As an entrepreneur and limited advertising and marketing budget, small business owners, business partnership development has really help me, my services to get the word out. For example, I've aligned the preferred planning and DJ for their clients, and are actively accepting business and referrals from this source. In addition, due to my partnership with the travel agency, I now deal with meetings and enterprise groups from abroad entering the event. Forming a strategic alliance has been and will continue to be an important part of my long-term business plans and the exponential growth model.
I have practiced the art "building known as the" non-competitive alliance with like-minded companies, not just as a new entrepreneur, but also as a business building tool in my previous position. At the same time, on the whole, this strategy has achieved very positive results and considerable income, have some negative consequences. So, I would like to share with you a very basic list of "DONT" to create a successful business partnership.
Seeking your services will be a natural addition to the resources currently available. For example, if you are a professional in the health food catering services, you may want to partner with health club, gym audience of special incentives.
To do business ethics and overall image, generally at least compatible with you. The last thing you want is a questionable business practices and related organizations. Financial Although you may from this partnership in the short term, the type of "business bad karma" can only affect your long-term negative.
Do not determine in advance whether your own or your partner's organization operated under the auspices. If you are ABC Company and your partner is a certain company, you will be on the market for ABC Company or expand your partner XYZ Company? Are you looking for strict access to new customers or for the ABC Company's exposure?
Specifies how referrals will be passed to you. The customer to contact you, directly or preliminary investigation will be your partner?
Do specify in writing the payment structure. You will be paid directly to the customers to come to you or the settlement process will be the place of your partner organizations? If you do not direct payments, billing and payment cycle of your partner companies is what? What percentage of the commission, if any, you owe through their company's business cooperation partners?
Does not rule out the partnership between the companies, organizations or individuals you do not have a direct and obvious synergies. Is open! Be creative! Explore! For example, my home-based business creation process with several business coaching seminar on how the bid is successful product launch.
Do not neglect to do your research. Ideally, you are familiar with either your personal use, or service organization partners in a business setting. (Or from other service and management style are familiar with your potential partners and get at least three referrals.)
Not accept verbal promises, especially in the commission and payment structure. Even if you know and trust your partner, there is a formal written agreement of insurance opposed to misunderstanding.
Do not hesitate to challenge the partnership, does not live up to your expectations. The strategic alliance is a two-way street. If your counterparts in the business agreement, politely remind them of their duties.
Not to disclose any information, resources, benefits, etc., your value proposition unique, until you are 100% sure how this information will be used for and your business partners. In short, the strategic alliance is an effective method of marketing, advertising and resource sharing. Your business partnership, in what form, be sure to look forward to a well-defined.
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