HOW BUILDING STRATEGIC ALLIANCES CAN GROW YOUR BUSINESS
Strategic alliances can be an extremely powerful way for you to gain access to new business opportunities, opportunities you certainly would never have had. They can take several forms such as:
Linking up with a complementary business to offer a wider service e.g. a computer hardware company and an IT support company.
Sharing customers and databases with non-competing members who sell into the same markets as you. For example, an Accountant and a Lawyer.
Forming an alliance to share specific referrals. For example a commercial estate agent and a signage company, a security company, a printer and an office furniture company.
There have been many, many, instances of members developing strategic alliances which have resulted in the generation of literally hundreds of thousands of pounds worth of new business. Alliances have also lead to members merging their businesses to form a stronger, more powerful and far more successful force in the market place – and, if they count as Strategic Alliances, we know of at least three weddings!
What type of business might you be able to work closely with for your mutual benefit?