A Quick Guide to Building Strategic Partnerships

How to Create Strategic Partnerships

 

Want to build great strategic partnerships?

Here’s one approach that works:

Research to Determine Potential Partnership Opportunities

1. Prepare a list of all the request you receive from potential clients or customers that you are unable to fulfill

2. Create a list of all the request you anticipate receiving from potential clients or customers

3. Do research. Figure out what your competitors are offering that you are not.

4. Draw a list of services that are complimentary that would enhance your service or products

5. Ask your existing clients what type of services or products they want you to offer

Find Partners

1. Join LinkedIn and Facebook groups with people in your industry or related industry and put the word out

2. Create a LinkedIn and Facebook group and discover potential partners

3. Hold an event or mastermind for potential partners to learn more about their services

4. Call or join a local chamber, attend networking groups, find referral organizations to find partners

5. Run a Facebook graph search to find potential partners (learn more here).

Create a Relationship

1. Reach out via message or email

2. Tell the potential partner about your opportunity

3. Emphasize what’s in it for them and put your needs in the back seat

4. Request a meeting as soon as possible

5. Prepare for the meeting by doing research using Google, Linkedin, and even Facebook Graph Search

Define and Cultivate the Relationship

1. Be clear upfront about expectations

2. If compensation is to be provided, create a written agreement with clear definitions about when payment is owed and how it should be paid

3. Create a clear communication protocol for future or existing clients

4. Reach out to make sure your partnership is going well and ask for feedback

5. Thank them regularly for their partnership

Be proactive and partner up businesses that solve problems your potential clients and customers are likely to face.

Not only will it help to grow your business it will allow to create meaningful relationships with other businesses, help make sure your clients and customers to get their needs met, and create growth for everyone involved.

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