Time to Clean Up How You Feel About Partnerships?

If you want to go fast, go alone. If you want to go far, go together.
African proverb

 by Skip Cohen

​It's Friday, and time for another idea to help you fine-tune your business. Unlike some of the past suggestions, today's really isn't a cleanup because so many of you have never done anything with the concept, to begin with. The idea? Partnerships!

Stop thinking you have to do everything alone! Whether working together on a direct mail piece or cross-promoting with another vendor in your community - partnerships reduce your cost and help expand your reach. The best thing about the concept is that you can start small and grow into more significant projects, and add more partners.

Here's the assignment for this weekend...Pay attention to the other companies involved with other clients you're working with. A wedding photographer will have the most extensive potential resources: florists, caterers, bridal gown companies, travel agents, bands, venues, tux shops, limo companies, etc. To start, you just need one partner, and it's a simple expansion of your reach with their name and link on a preferred vendor section on your website and you on theirs. 

Once you start the foundation to refer business to each other, you've got lots of potential for a more interactive relationship. Cross-promoting is next in line with some sort of incentive when you buy services from both companies. From there, you might move into a direct mail piece and bring in a third partner. 

For example, an oversized postcard mailer with three companies reduces each partner's expense by a third. In addition, combining the power of three databases expands each company's reach. Lastly, each partner in the mailing becomes an ambassador for the other companies participating.

It's almost the weekend - take the time to find at least one company to start working with!

PS And if you're stuck on the process - you know where to find me!