Grow Your Business By Partnering
Posted on 3rd September 2020 at 16:21
Partnering has helped several clients create a competitive advantage and to grow their business profitably. But before introducing the process of partnering, first a bit of history.
If you want to enjoy the benefits of partnering with your customers here is the process:
1 – Decide which customers / suppliers would be worth partnering.
2 – Identify in each, who the key people are you need to partner with.
3 – Determine your businesses current level of relationship with each key person, using the following process:
Red = Don’t know what they look like, never met them. Not done any business directly with them.
Amber = Met them, done limited amount of business with them, don’t get all their work, just a transactional relationship.
Green = Strong trusting relationship, good friends, got a good share of their business. Opportunities for more.
4 – Allocate resources and time with the aim to turn targeted contacts Green in the next 12 months by doing things for them to help them develop their business: Principle give before receiving.
5 – Offer to engage in pilots with them to benefit both parties. Conduct joint training between their staff and yours etc.
6 – Enjoy the benefits of becoming a long-term partner.
Partnering takes effort, but the potential rewards are; securing long term sales commitments, obtaining beneficial trading terms, gaining a larger share of the customers business, taking out the ebbs, flows and stress from the normal transactional sales process.
See more Tales about how businesses have benefitted from partnering in my new Book Telling Tales:
Share this post: