How To Set Up A Strategic Alliance

Here are some tips on how to set up a strategic alliance with a partner to generate more referrals and increase your business inquiries at NO COST!

Setting up alliances with joint venture partners will enable you to generate additional income, expand your marketing network, cross refer business and extend your service offerings, at typically, no extra cost to you. It does take time, however, to establish the partnerships. The time investment is often mostly upfront, and once established, the time spent in maintaining the relationship is minimal. A joint venture partner is someone who targets the same clients as you and your services/products are non-competing. This strategy is most practical for businesses with a small or non-existent marketing budget.

Attributes of your ideal joint venture partner:

§ They have a business relationship with your target audience and have provided a quality service or product
§ They have influence (trust & credibility) with their clients
§ They have clients who are used to spending money on a similar service
§ Their service or product is complementary to yours
§ They are open minded and have an interest in forging an alliance because of the value you bring to their clients

How can I interest a joint venture partner to work with me if I’m just starting out or have nothing to give them?

§ Give them access to your database
§ Give them a percentage of the profits from the sales to their clients
§ Sell yourself, be upfront. Tell them of past success stories and that you will reciprocate
§ Can you barter something else? Time, expertise, contacts etc

Steps to identify, approach and secure a joint venture partnership:

1. List all the companies, industries, service and retail providers that market to your target audience
2. Identify the ones that offer services/products that rate the highest complement to yours
3. Go through your personal contacts to see who fall into these categories
4. Next, go through your trusted friends, associates or colleagues who have a relationship with these categories and ask for a direct referral or personal introduction
5. Devise your approach strategy – will it be a trial of your services, an irresistible offer for their clients, a high commission or a barter?

Important note: Do not give up. This strategy requires time, effort and some businesses may not be receptive to opening up their database to you. That is why an introduction from a trusted source or someone with a personal relationship with you will be the best targets to hit first. Do not be discouraged if the potential partners you approach are not open-minded to working with you. That is why you have a list; you just keep going and contact the next one until you secure a relationship. Some may bring you new business, some may not. Out of 10, there may be the one that is highly lucrative and best of all, at no cost to you!

If you have found this useful, please send an email to info@biz-results.net for a full 20-page report on how to "Quadruple Your Business Leads and Close More Sales".

Here are some comments from our most recent "Selling and Influencing with Integrity Workshop" on October 27th.

"Cecilia is the real deal as they say. She speaks from the heart with great knowledge in her field of expertise. I've been in sales over 15 years and she was still able to give me fantastic ideas to increase my bottom-line. If she's teaching, I'm there, I would never hesitate to take a course from her. I believe she could help anyone in any business do better from a small start-up to the most established company." - Karolyn Yue, Yue and Co.

"The case studies and the presentation of solutions for real problems sales & marketing professionals face were very practical and extremely useful." - Mary-Anne Chan

" Cecilia is the most genuine and passionate trainer that I have met to date. She will guide you, both personally and professionally on how to create more results in your life. Be inspired and ready for more success after attending her workshop." Grace Lee, TLC Wellness