No woman is an island and luckily you don’t have to go it alone in your journey to independent business success. True, you want to keep your company (and it’s profit margins) under your control but partnering up with other talented women to further your business could be the smartest thing you’ve done to date.
Why partner?
Despite how strong your company may seem, despite how busy you may feel fulfilling orders or meeting with clients, if you're not trying to grow your business in some way, however minor, you're not trying hard enough. Period. To grow your business without devoting a significant amount of capital or time developing new systems and processes, taking on a strategic partner is a no-brainer.
The reason partnering up for success is so effective? It's simple. It's because instantly your partner's network of acquaintances and colleagues becomes your network. Instantly your partner's business infrastructure that has been in place and refined over time, is now at your disposal. You get to benefit from their experience and connections and vice versa. For example, let's say you design and manufacture adorable baby blankets. Sales from your website have been going well but you're ready to make a real breakthrough and double or triple your distribution. The only issue is you have no idea of how you'd handle that level of production all by yourself. You're the perfect candidate for a partner.
You need to create a partnership with an existing sewing business or individual to help with the anticipated work "overflow". In this partnership your revenue per item may drop slightly by sharing profits with your new partner but your sales volume is now free to grow exponentially. Voila, you're on your way!
Who to partner with?
Your new partner needs to be a person or business that has skills or resources that complement your own. The partner will preferably circulate in an entirely different crowd, thereby increasing your business's reach into those new areas. Here are some examples of great partnerships:
- an illustrator + a book editor
- a graphic designer + a web designer
- a baker + an event planner
- a jewelry designer + a home party specialist
Where to find a partner
The best way to start to look for a partner is to make a simple list of the types of businesses you'd like to partner with! Then look around at your current network of friends, acquaintances, neighbors, friends of friends, customers and make note of who might be a good partner. Next, you can look in your local networking groups and chamber of commerce. You can also look for partners at other social events that you frequent, for instance, your yoga class, your child's preschool, etc. And don't forget that it's OK to ask a total stranger. For instance, perhaps you've happened upon the website of a fellow entrepreneur whose work you admire. You then send her a quick email complimenting her work and suggesting that you might want to work together in the future. I've done it twice and both times netted me a fantastic business partner and friend.
Put it out to the Universe what you need and before you know it - the perfect person will come to you.
As you can see there are myriad ways to create a partnership that is beneficial to both parties. This method of growing your business into new markets is fast, easy and fun. And by creating a new connection with a partner, you'll be infusing new energy and resolve into your quest for independent business success!
biznik.com
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