Cheryl Baumgartner   Medical...
This is a
concept that any business owner can use to build his business and share in
referral business. The only catch is that you will not only be building your
business but working in conjunction with strategic partners to build a loosely
connected "conglomerate? of businesses. There's no need to go into any big
merger or anything like that. It's actually quite simple to do and can benefit
every business that fits your mission. So how do you put together a strategic
partnership?


The first
thing you need to do is to meet other business owners. This is how you will
pick your partners. There are two major requirements to consider when picking
your partners:

1. Are they trustworthy? You will be basically sharing
your client base with your partners, you want to know that they do their
business above board. They should provide Quality work, keep their word and
have a strong set of ethics. If they don't and they cheat a client you will
share the shame and your business reputation will suffer.

2. Is this business compatible with the Mission? Before you even begin to look
for partners, you should already have a rough idea of your mission. This is
what you want to provide to your clients.


Once
you have figured out who you want to be in partnership with arrange a meeting to
present your original idea.  Impress on
them the idea of sharing your clients both existing and new. You want to make
sure that you impress on them that the idea is to give your clients added value
and to help them do what needs to be done to give them a total solution to the
problem you want to address.


Some other
examples of possible strategic partnerships:

Computers-Web hosting, graphic designers, programmers, software designers


Real estate-Mortgage broker, Real estate agent, insurance agent, general
contractor


Once you have
decided on your partners and met with each one initially, it's time to bring
all of your partners together for a Brainstorming session. Each of your
strategic partners will more than likely have ideas and suggestions. Discuss them
as a group. The items you want to cover in this initial meeting are meant to
fine tune the mission. Your partners may have suggestions on other businesses
that can provide a necessary element or outside support for your mission.


The next item
to discuss is how you want to implement your mission. Do you want to do a
seminar type event where each of you comes together in a central location to
present the idea to your clients? Perhaps you would rather do an introduction
through a letter announcing your strategic partners and outlining your mission
to your clients? That needs to be decided. With everyone working together to
promote the group, everyone wins.


Finally you
need to discuss and decide upon promotional materials. Would you like to do a
brochure, or perhaps an inclusive "portfolio" or folder in which you
place the promotional materials of each strategic partner. Maybe you want to
come up with a logo representing your group. All of these things must be
discussed.


The last thing
you need to discuss is how to lead your clients to your other partners. The goal is for each one of you to have a chance to
sit down with that client on the recommendation of someone they already know.
Oct 27th 2010 20:23