Once you have made the essential connections necessary to develop alliances and ignite your business, it is important to maintain them! As with any relationship, your alliance must be nurtured to be successful. Regular monitoring required! Continue reading
Category Archives: Reseller
Business Alliances: What you need to know
What is a business alliance? Are you thinking of starting an alliance? Here
are questions to ask about alliances. Continue reading below to learn more.
What is a business alliance?
According to Chron, a business alliance is a formal business relationship between two or more organizations to make collective business goals. Continue reading
The Importance of Strategic Alliances
Has your company has achieved a peak? You have been wondering what comes next. Create strategic alliances. A strategic alliance will help you achieve your next set of objectives; the ones that you cannot achieve on your own. With a well-structured alliances, 1 + 1 = 5.
To add a new product or market, there are three ways: Build it, Buy it, or Partner for it. Continue reading
What You Need to Know About Strategic Alliances
What is a strategic alliance? What are the risks? What are the common mistakes? What is the importance? How can strategic alliances end? What are the criteria? How should strategic alliances be managed? What are the different types?
Here is what you need to know about strategic alliance. Continue reading below to see a list of alliances and what considerations you must evaluate. Ask some of these questions before you start your alliances. Continue reading
Channels of Distribution Must Be Ready — Or Else.
How important are channels of distribution? According to David Semerad who is the co-founder of STRV (a mobile app development company), “You can have the best idea in the world, but if you don’t invest in distribution, then you might as well flush it down the toilet.” In his article titled When It Comes To Startup Success, Distribution Is King, Continue reading
3 Keys to Success for Your Channels of Distribution
Your prosperity as a supplier hinges in upon your ability to pave a clear path for achievement for your distributors. You provide your distributors with guidance and a framework for success. Below are three keys to success for your channels of distribution.
1) A strong online presence. With the majority of product searches now beginning on the internet, active online presence required. Provide your distributors with educational information, as well as product data for their website. A strong online reputation can be created with the help of the following:
- A comprehensive search engine optimization (SEO) campaign
- The inclusion of useful content on your distributors’ website
- A well-designed website that is responsive and easy to navigate
2) Accessibility. Customer expectations for speed of service are higher than ever. If your distributors are only available for support on weekdays between the hours of 9:00 a.m. and 5:00 p.m., you will lose market traction. Even worse, prospective customers may immediately turn to one of your competitors, if they get the impression that your distributors are not accessible. Choosing distributors with 24/7 accessibility will foster higher levels of customer satisfaction and help your business thrive.
3) Robust product training. Your distributors need to be armed with tools that will help establish them as industry experts. Your distributors serve as the frontline responders to customer inquiries. Information provided to them assists them to win over new customers. Here are some ways to ensure that your distributors are well-trained on your products:
- Use a learning management system (LMS) to enable distributors to train online at their own speed
- Incorporate content quizzes into your training regimen to ensure trainees have absorbed content
- Use a multi-media approach to ensure that participants are engaged in the training process
- Revamp your training initiatives on an annual basis to ensure they are current
On a closing note, remember that consistency is key in promoting your brand through your distributors. If you focus on what it takes to make your distributor a successful business, you will have a strong relationship. We invite you to contact us to learn more about fostering success among your channels of distribution. We look forward to hearing from you!
Managing Channels of Distribution with Strategic Partnerships
Starting or expanding a business takes more than just a good business plan and product. It also requires avenues for getting your products to the right customers at the right time. Finding channels of distribution that allow you to accomplish your business goals involves building deep strategic alliances with the right partners.
Strategic alliances create a quicker path to growth. Continue reading
3 Things Most Successful Businesses do to Build Strategic Alliances
To reap the rewards of a strong strategic alliance, a business must first study and consider following the steps other successful businesses. Doing your research is mandatory to laying a solid foundation for thriving strategic alliances for the future. Planning and research before you start pays dividends long after the partnership has started.
Before making plans to build your strategic alliance, Continue reading
Managing Channels of Distribution with Strategic Partnerships
Starting or expanding a business takes more than just a good business plan and product. It also requires avenues for getting your products to the right customers at the right time. Finding channels of distribution that allow you to accomplish your business goals involves building deep strategic alliances with the right partners.
Strategic alliances create a quicker path to growth. Continue reading
6 Questions to Ask Before Developing Strategic Alliances
Strategic alliances can increase market share, reduce competition, improve expertise, and open the door to new funding opportunities – but not all strategic alliances are created equal. The truth is that sometimes a strategic alliance can cause more harm than good if the partner company has different goals, gets more than it gives, or otherwise fails to live up to its side of the deal.
Before you set up a strategic alliance, ask yourself these questions first: Continue reading
Increase Channels of Distribution with Better People, Processes and Products
Channels of distribution are some of the most important parts of your business. If you have positive momentum in distribution, your product/service is constantly in demand and you are making money. If you cannot get distribution, finding customers is difficult and costly and your business is overwhelming.
Fans of The Profit are familiar with the 3P’s of business: People, Process and Product. Continue reading
3 Steps to Vetting Alliance Partners
Alliance Partners bring unique strengths to your business. Each partnership can bring support, innovation, resources, and intelligence to your business. With so much on the line, how do you decide who is your best alliance partner?
In any relationship, there is a vetting process which takes place before you commit to the relationship. Business alliances are no different than any other relationship in the vetting process. A young couple begins dating with discovery, exploration, testing, and more. Shouldn’t you be doing the same when you create an alliance? Continue reading
Channels of Distribution Slowing You Down?
Channels of Distribution are key alliances a business can enter into. As pointed out by Shark Tank’s Kevin O’Leary on almost every episode, not getting distribution kills a company. Channels of Distribution move your product to potential customers.
For manufacturing companies, your distribution channels will be wholesalers and retailers Continue reading
Alliance Building in a Sharing Economy
Alliance development and management used to be simple. Find the group of potential allies you wanted, find where they meet, and get involved there. In the sharing economy, allies have become easier to find and encounter, but harder to know. With mega-gurus like Richard Branson, Elon Musk, and Daymond John taking to Twitter, Facebook, LinkedIn, and other social media sites, alliances bridge geographic and sociological boundaries. Linking and touching others has never been easier, but is that an alliance? Continue reading
Succeeding with Business Alliances
Why enter into a business alliance? The main motivations include cost reduction, the improvement of service or capture more customers. Here are 5 kinds of business alliances that business-oriented minds need to know about: Continue reading
Use Alliance Management to “Get it Right”, because Alliances Have Limitless Potential
If your business is stagnant and needs a fresh and new division, product or service; or if you’re a new business and you need credibility or access to an established customer base, an alliance is a great way to get where you need to be.
Why Use Alliance Management?
Alliance Performance Coaching: Which Coach Do You Choose?
With the number of business alliances soaring, alliance performance coaching becomes even more essential.
An article from Forbes talks about why coaching is vital for any partnership. In this piece of literature, the author makes it clear that no matter the past relationships that you have had with your partner, it pays to hire a coach. As he puts it, “Whether or not you knew each other beforehand, launching a business will change your relationship.” Therefore, to thrive in any joint venture, you have to incorporate performance coaching services. However, how do you make certain that the coach you go for will be rewarding for your business?
Power Partners, You Know You Need them, but Do You Really Have Time to Build Alliances Properly?
It’s official. The public’s buying behavior has changed. Every major marketing firm on Madison Avenue now has an Internet Marketing division; and many experts believe online marketing is even more powerful than TV, Radio and Print marketing is for many products and services. Everyone from grandpa to toddlers is becoming more tech savvy; and consumers are making buying decisions based on social and environmental responsibility.
What do You Do?
Well, totally changing your business model is out of the question for a multitude of reasons. However, a new joint venture can quickly gain you access to new customers, more capital, more technological resources; and give you more credibility in the modern marketplace. Continue reading
Growing Your Business with Joint Ventures
Whether you are starting out as an entrepreneur or have a successful business already, you know the importance of you clientele and growing your customer base. Sometimes it can be difficult to design and market new products and ideas on your own, especially if you are just starting out. One solution to this dilemma is Joint Ventures (JV). A joint venture is a business agreement between two parties with the intent to achieve a common goal.
Here are some great advantages Continue reading
Channels Of Distribution, Growing Your Company
Resellers are an important part of growing a business. Without partners, most businesses will simply start to stay in place without any real growth. In order to avoid this, it is important to open up the channels of distribution.
How To Pick Channels To Consider
Do not just pick any random reseller Continue reading