Business Partnerships

February 14, 2009 in Joint Venture Tips | Comments (0)

Business Partnership How to

Some of your easiest sales will come from referrals. A referral already has a need, is ready to buy and starts out trusting you. Your overall reputation will contribute to automatic referrals, but what about business partnerships?

Think of a related business that does not offer your service, but needs it. Here are some examples of good business partnerships:

Web Designer + Computer Repair + SEO Company
Chiropractor + Doctor
Chiropractor + Massage Therapist
Chiropractor + Physical Therapist
Counselor + Hypnotherapist
Plumber + Electrician
Accountant + Attorney
Attorney Specialist A + Attorney Specialist B

Are you beginning to see a pattern with business partnership ideas? The basic idea is to find other companies who will pass on your information, but who will not want your customers.

What is an ideal Business Partnership

An ideal business partnership will be one where you do not overlap their business and you both benefit.

As an online marketer, I am looking to partner with:

  1. web designers
  2. flash animators
  3. programmers
  4. computer repair shops
  5. phone and VoIP installers
  6. hosting companies
  7. other companies that deal with websites

Their customers expect they will know an online marketer, or that they can do the service themselves; however, many of them cannot do online marketing and are happy to pass that type of customer to someone who they trust.

This would be an ideal business partnership because I will be piggy backing off of their marketing and client gathering efforts, and they will vouch for me.

What about Monetary Compensation?

It is common to reward referrals in some way. Perhaps swing by and give them a personal thank you, marketing materials for you, and let them know you pay a 15 to 40 percent commission. When I was doing websites I would offer 25% as soon as they customer paid. It was very effective at feeding me with customers. In return, I would send computer work back to that company as well.

Action Step

Pick up the phone book, or go to google and map out all of one industry. Prepare your marketing materials and portfolio and sell a business partnership idea to all of them. You will reap huge benefits by keeping in touch with these “distributors” and reminding them that you offer the service, you pay a commission, and you do excellent work. Get started now!