Identifying Entrepreneurial Allies

You can greatly increase your visibility in today’s market by establishing close ties with other entrepreneurs. But beyond simple networking, you’ll need to get assertive and creative in partnering with other businesses if you hope to see substantial growth. So how do you turn a contact into an ally?

Know what your clients want. What does your business offer to clients in the larger sense? Self-improvement, comfort, education, safety? Get to know what motivates your clients and you’ll have a major advantage in seeking them out.

Seek out similar and complementary businesses and services. Once you know what your clients are looking for, consider who your indirect competition may be. For example, at TopMatch, our clients are looking to enrich the overall quality of their lives, so they can often be found at gyms, salons, and taking classes. Who else can give your clients something they want?

Come up with a deal that’s triply beneficial. Not only will you need to consider what promotions will be good for you and your potential clients, but you’ll also need to consider how to make it worth the while of your potential business partner. How will your promotion in their publication, lobby, or locker room help this business? Will you offer to advertise their service on your website, recommend their business to clients, or give them referral incentives? Often these details can be negotiated over time, but be sure you have some incentive built into your initial partnership proposal.

Track success. Award small discounts or incentives to reward new clients willing to mention how they found out about your business. You can do this when they sign up or make a purchase, or through a longer voluntary questionnaire.

Maintain and expand your presence. Seek out other opportunities, and check in with current business partners. Consider using new marketing materials or strategies over time to keep the attention of your partners’ returning clients. Whether you’re placing fliers, sponsoring an event, or giving out prizes, try tweaking your approach from time to time so that your ads continue to get noticed.