A business alliance is especially relevant for every business owner. This formal relationship of multiple organizations focuses on mutual business objectives. Essentially, a business alliance poses an important array of benefits to strengthen your business. Continue reading
With the amount of time and effort it takes to build a powerful indestructible strategic alliance and then properly manage it, you probably can’t help but wonder if there is some big secret to the success of alliance management. Is there some “hack” that will put you on the fast track? Continue reading
Two brains are better than one. Of course, as long as the minds reach consensus. They must share the same goals to build steadfast loyalty and trust. Compatible matures with time and effort. Members of the strategic alliance learn the burdens of one another.
A strong strategic alliance consists of companies sharing knowledge. Continue reading
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
What is a business alliance?
Strategic alliances are an integral part of a thriving innovative, diverse, and creative business world. The core of any successful alliance derives from both parties sharing resources, and debating ideas. The result, an open and thoughtful approach to business practices. Continue reading
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. Continue reading
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 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
Rapid advancements in technology have changed the way strategic alliances are born, managed, and terminate. This inevitable evolution has led to valuable alliance-based benefits, such as streamlined and time-efficient processes, more opportunities for growth in individual businesses and their joint market, and the ability to increase customer relations. It is also important to understand the history behind these alliances. Oftentimes, an old process can lend invaluable balance to its evolved counterpart. Continue reading
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
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!
Your channels of distribution create the main connection between the value proposition of your products and your customers. Hence, your distribution channels are integral to your business model and marketing position.
Young companies focus on their first 5-10 direct customers. Your next task, how to reach 100 or 1,000 customers. Continue reading
When planning to form an alliance with another business, do your research. Become knowledgeable on all of the ways you can make your new alliance successful. However, you also want to be aware of the obstacles that destroy business alliances and make sure to avoid them.
In this post, we will discuss three reasons why business alliances fail.
You have a great product or service to offer. You have a strong dedicated team supporting your business. You have clients and customers for whom you create value. As your business grows, Strategic Alliances with carefully selected, like-minded companies and individuals can be the gunpowder that ignites your business – taking it to new heights!
However, what is a strategic alliance, and how is it different from ordinary networking? Continue reading
When it comes to building a strategic alliance, some obvious components are required. Such components include trust, communication, and compromise. However, what about things that business partners forget to consider?
In this post, we will look at three commonly overlooked elements that every strategic alliance needs. Continue reading
How do you know who will be perfect business partner? There are many keys to determining whether your next partner is going to help you build an even more successful business, or tear down what you’ve already worked so hard to create!
When discussing the benefits of a business alliance, we often cover the important elements of creating that relationship with another business. However, we don’t talk enough about the importance of working on your own professional and personal traits for optimum success when building an alliance.
In this post, we will uncover three traits you need to successfully build business alliances. Continue reading