If you own a small business, you probably understand that it is vital to maintain a competitive edge in today’s marketplace. Strategic partnerships are essential in helping you do just that.
Expansion through strategic partnerships can increase your company’s capabilities and bottom line in several areas.
Among many other advantages, strategic partnerships:
- can help you significantly boost sales and profitability;
- can strongly improve your image in your industry simply as a result of association;
- can expand your client base far beyond its current limits,
- can provide added value to current customers;
- can help you gain a competitive advantage and help you rapidly crush your competition;
- can provide you with many sales and marketing opportunities;
- are easy to create;
- are flexible to operate;
- require little or no cash;
- capitalize on your company’s hidden assets; and
- are nearly impossible for your competitors to emulate.
To explore the possibilities of a strategic alliance, you can begin by searching the member listings of your social media groups and the networking groups you belong to for small business owners who are in fields that complement yours. You can also talk about it on your website, post a notice on your social media pages, like Facebook and Google Plus, and you can mention it on your Linkedin profile.