Would your business benefit from a Strategic Alliance?

March 3, 2014 at 1:14 pm | Posted in Articles | Leave a comment
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Being self-employed or working independently has many advantages, but one of the downsides for me, when I first ventured into this new found freedom, was the absence of someone to get creative with.  There were only so many hours in a day, so a limit on what I could achieve.

Consequently, through my network, I created a number of strategic alliances ie joint ventures and informal partnerships where I work with others towards a shared objective.  This includes combining expertise, designing new services and co-referring.  For an extrovert like me, it has been invaluable, not just because one of my business goals is to expand my client base, but also because I want to have more fun!

At The Athena Network we strongly encourage our members to work together to form STRATEGIC ALLIANCES.

We’d love to hear from you, if you are part of a strategic alliance with another Athena member. There are numerous examples within our network – here are just two:

Agustina Tulloch, Sarah Aspital, Penny Campbell and Caroline Shaw all have very different skills and are joining together to offer them all to you at an Afternoon Tea Spa on 15th March.

Josephine Blythe, June Dean, Ellie Barnes, Juliette Smith, Grainne Ridge, Stephanie Smith and Diksha Chakravarti are combining their expertise on 14th May to run their third Business Conditioning Workshop aimed at helping you improve the fitness of your business.

What might the benefits be for you in creating a strategic alliance?

  • Connecting your business with another more established brand could elevate your visibility in your network
  • You might be able to gain access to the network (including possibly the clients) of whomever you link with
  • You could increase your skills
  • It could give you greater buying power (thereby reducing costs)
  • Approaching new clients as larger concern when pitching, could increase opportunities for you.

Who do you want to connect with? 

Think about what you would like the alliance to accomplish before you start approaching people.

  • Perhaps another business in your market that is not a direct competitor would be a helpful link.  You could potentially market to the same customer base.
  • You might even want to create an alliance with a competitor.  I have a great connections with other Coaches.   I don’t have the same expertise as them, so am able to benefit my clients by referring.

How could the alliance work?

  • You and your partner(s) should get clear who is responsible for what
  • Ensure you communicate honestly and regularly with each other and think about how the alliance can become a win-win for everyone involved
  • Ensure your goals are aligned as well as your level of commitment (of energy and time)
  • Discuss any costs involved and ensure that each party has the same understanding

Then you could:

  • Link to each other’s websites
  • Develop joint marketing materials and/or include your material in each other’s mailings
  • Develop a workshop together then market the event as a team

and so much more.

Most of all though – HAVE FUN!

Juliette Smith, Relationship Coach

http://www.juliettesmith.co.uk

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