Are you ready to ‘Crush It’ in 2020?
Here’s one big thing that I learned in the past year that has grown my business a lot…without spending a cent.
It’s called ‘Strategic Alliances’.
The good news is…
…I’ve put together a short video on how to grow your business with Strategic Alliances.
I explain what they are and the critical things to keep in mind to make your strategic alliance a success.
Watch the video and tell me your thoughts.
Drop a comment, share with your friends and let’s connect!
Video Transcript
Hi, this is Terence Tam here.
Today, I’d like to share with you a little known strategy that I use to actually boost my business.
So I want to tell you about this story about how I came across this. So I was in this new mastermind group, a new mastermind group for marketers, and I got to know these two guys and we decided, you know, we have different skills and knowledge.
So we decided to partner up together. And quite amazingly, within a three month period of time, we managed to get six really good clients, and basically we had so many clients, we actually had to push some clients back because we had too much work to do.
So it was quite an amazing experience and that was through our synergies because each of us was good at doing something.
So one of the partners was based in Europe and he had 20 years’ experience in art directing. So he was great with graphics, with videos, and coming up with all the creative stuff.
Whereas on my side, I was, you know, probably better with the copywriting stuff, so I focused on the copywriting stuff for the team and we basically did great copy and got great results, whereas the other partner who was based in Australia was great at sales so he could do a lot of sales and also manage some of the ads, which was really great and manage client relationships.
So through that synergy, we managed to get very, very good results.
And that’s why I suggest that this is something that you should attempt to do if you are not already doing it, which is to look at who in your industry you can strike up strategic alliance partnerships with and work together on various projects.
Now another example, which just happened to me yesterday. A guy from the US reached out to me, and he’s a marketing consultant, but he was stuck with a project and needed some fresh eyes on it. So I came in and basically we gave him some great ideas on how he could market his client.
And after talking for a while, we realized there are some synergies between us. So we decided to pool together our resources and we’re talking right now and he’s already pulled a potential client with a two-year contract and the client’s really interested and we could be possibly getting this contract within the next two, you know, few weeks hopefully.
So that’s just another example of how powerful strategic alliances can be for your business.
So a few things to take note is that one thing for your strategic alliance to work is that you need to make sure that each of the partners has their own areas of expertise. Like in the first example, where each of the three partners has special abilities that the other partners may not have so much of.
And the other thing I would also suggest is to make sure you have everything in writing because, at the start, everything is all nice and rosy, but you know, you can come to the point where especially when there’s money involved, that things can happen that you did not expect would happen later on in the relationship. So it’s good to set the expectations and set the conditions from the outset.
So that’s how you can make a strategic alliance partnership work.
So make sure you start looking out for strategic alliance partners in your industry and you could be amazed at what kind of opportunities, what kind of doors open up for your business.
So good luck with it and let us know the results if you get a great strategic alliance partner.
