Your Best Power Partners May be Right Down the Street

I came across a blog the other day written several years ago by Al Lautenslager for Entrepreneur.com.

He tells a story of walking into the dry cleaners and finding a $5-off coupon for the pizza joint a few doors away. Deciding to enjoy some pizza, he walks to the pizza place to redeem the coupon and there on the counter he finds a $5-off coupon for the dry cleaner. This might be called reciprocal marketing or, as Al suggests, fusion marketing. Whatever you call it, it makes sense.

Finding a power partner – Continue reading

How Collaboration Can Save Your Small Business

A small business starting up faces a lot of challenges, and many of those challenges are due to limited resources. Small businesses have to find creative ways to establish themselves as legitimate competition for their often much larger competitors, and somehow reach enough customers to not only maintain itself, but to grow as well. It’s a daunting situation, and according to a recent working paper from Harvard summarizes that it is harder for those just starting to succeed. But those that do succeed show an interesting trend in ideas: a lot of the success comes from some form of collaboration, either in the form of funding or in the form of ideas passed on to beginning entrepreneurs from their former employers.  But collaboration can go much deeper and be much more fulfilling than that.

Kimber Lanning’s “Roosevelt Row” in Phoenix, AZ is one inspirational example of how Continue reading

9 New Steps for Managing Strategic Alliances That Work

In a recent press release, Hallmark, the world’s leading greeting card brand, announced a strategic alliance with Shutterfly Inc., a leading Internet-based digital photo site. The goal is to have “exclusive Hallmark-designed customizable cards featured on Shutterfly’s new personalized greeting card site, Treat.com.”

According to Investopedia.com, a strategic alliance is… Continue reading

Joint Ventures Are for Businesses of All Sizes

Successful businesses around the world understand the power of creating joint ventures to grow their business. Developing relationships with other companies gives you the ability to grow your revenues and has been used by corporate giants and small business owners. The principle works as it is based on strategic alliances.

What Is A Joint Venture?

A joint venture is essentially partnering with other businesses to create a partnership. Continue reading

Three Tips to Keeping Sales Growth Strong

When you first opened your doors for business, you were probably excited about the opportunity ahead. You had researched the market, talked to advisors, investigated financing, and made your dream come true.

Now it’s time to keep sales growth strong by taking the next step (or two) toward small business survival.  Continue reading

Power Partners: The Best of Business Strategies

Power Partners is a compelling concept. Simply put, it is a group of businesses that band together to use and promote the products of the other businesses in the group. There is an old song; “No Man is an Island.” No one can do it alone in the business world.

As much as we might want to think that we can win the battle alone; it just does not work that way. No matter what your line of work, you cannot afford to stand alone. You need people promoting your business and helping to build your clientele. Yes, we have many online marketing tools to help us out, but what is better than “word of mouth,” especially when it comes from people you trust.

Find the people your customers trust, and build a relationship with them. Continue reading