How to Establish Strategic Alliances in Business (And Why You Should!)

My all time favourite way to quickly grow a business is to establish some strategic alliances.

What’s one of those?!

Quite simply they are businesses which sell into your ideal clients but aren’t in competition to you.

It works beautifully if they have a synergistic product/service to you but can also be great if they sell something totally unrelated to what you do.

How to Establish Strategic Alliances in Business (And Why You Should!)

Want an example?

Website developers make great Strategic Alliances with SEO, PPC agencies.

Promotional goods companies make great Strategic Alliances with Marketing Agencies.

Get the hang of it?

 

WIIFM?

It’s incredibly easy to over complicate the whole “What’s in it for me?” angle.

All you need to do is go and have a conversation and see where it leads you.

There are a few things to consider depending on who you have the alliance with.

The main areas to think about are:

Are you going to white label?  You don’t have to but you can if you want.

Who “owns” the client relationship?  This depends of what kind of working relationship is involved.  Sometimes it’s a simple introduction, just like a referral, so then you deal directly with the client, other times if you are white labelling the relationship would stay with the primary contact.

Do I need to give them any sales commission?

Again this is up to you.  Some industries seem to expect one and others don’t so have a think before you have the initial chat.

 

So how do I go about it?

Easy…you just pick the phone up and have a conversation.

Don’t over think it.

This is a win:win chat, as it’ll be a reciprocal relationship.

Start with some obvious “no brainer” companies and build from there.

 

It works!

I’ve had clients get some very rapid results using this strategy.

Some have used the “we’re local” to kick things off, and others have just got stuck in.

The key thing is to take action.

So write yourself a list of all the types of businesses that your ideal clients already buy from.

Then get on the phone and generate yourself a small army of sales people.

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