Scared of business alliances? Even if you recognize in a general sense the overwhelming benefits and opportunities of business alliances, you may still feel a vague sense of discomfort about actually taking action on the idea. This is natural, particularly since fear and doubt take root in that “vague” territory of the new. You would love to grow, but that moves you out of your comfort zone.
The first step to leave your stagnant comfort zone is identifying what is behind the fears.
For most people, these fears and doubts lie in the murkiness of where to start. How do you find the right business or businesses to connect with? How does it work? What will it look like? How do I approach the companies once I’ve identified some potential? What if it doesn’t work?
Specific answers to these questions vary in nature. In general, it all comes down to three main principles;
- Weighing the cost of inaction versus the positive gains of action,
- Extensive communication with your customers,
- Seeking the help of others who have done these things before.
Most of the fears emerge from the category of “where to start?” These are actually doubts about something you are truly interested in or committed to. So that is something that takes a decision on your part and acceptance of reasonable risk. If you don’t add alliances, what happens?
Lowering the risk to a reasonable level, is part of addressing this fear. Seek help from others – a professional, reading and self-education. A consultant addresses and minimizes this risk. Other business owners or peer-peer advisory groups work well.
Another catalyst to remove these fears, doubts, and hesitations, is to intelligently channel these thoughts. Get excited about the opportunity, potential, and growth that come with strategic business alliances.
Your growth potential comes from access to an expanded customer base, and the halving of financial risks in some initiatives. In addition, as explained by Susan Reid in Forbes, the other benefits include a network of businesses with shared values, finding companies with similar distribution channels (who are non-competitors). You may find your company synchronizing with other businesses who have complementary life cycles and geography, to facilitate otherwise non-existing opportunities.
A strategic business alliance is not only beneficial, but exponentially so. To find out if this is the case for yours, and to learn how to go remove all fears and go about doing it, contact us today!