A small business, like yours, can potentially grow if you partner with another business. Inevitably, there is a circumstance that you will begin your business with difficulty if you handle everything independently. This will most likely happen when you face deadlines on producing new products and services in a small span of time. Being a newbie at almost anything is never easy. As a solution, partnering with another business will lessen your small business’ future production problems. Here are helpful tips for you to partner with another business:
Choose a probable partner
Your decision in choosing a business partner is accountable to your business’s success. Remember that your partner supports your business and must not compete with you. In the stiff corporate competition, it is not advisable to partner with another business that offers the same products and services as yours. Thus, look for a business that will definitely complement and make your products and services look better. For example, if your business is selling milk, partnering with a bottle-making business is ideal. You and your partner would produce things that would complement with each other.
The example given appertains to the right kind partnership. It helps you become wiser on focusing with your business and just wait for your partner’s supplies to match your production. In contrast, if you are the supplier, your production is continuous because your partner trusts your services. It becomes a win-win situation.
Discuss probable ways of supporting each other’s business activity
- Promotion – helping each other’s business through promotion will help improve your businesses. You can put a poster or give your partner’s business cards to your clients for quality assistance. You can both invest in joint advertising or organize activities together.
- Standards – you can help each other by setting a standard for your customers. You can share ideas on improving your services and products such as design, color, sales and marketing.
Have a reliable Internet hosted phone system
Communication is vital to a business especially when it comes to your customer’s needs. With a reliable Internet hosted phone system, like RingCentral hosted PBX, your businesses can simply connect anytime and anywhere across the globe without the expensive call rates. It has an auto attendant feature that greets incoming calls from your customers. It also routes their calls to the department whom your customers are looking for such as customer service agents, sales representatives, and technical support group. Second, you can easily connect with your partner through quality voice and video calling.
Because it is operated by a voice over IP technology, you can record calls and even store it to voice mail when you are not around. Thus, both of you can connect with each other using a reliable Internet hosted phone system.
Update further plans
This is one way to keep your partner interested. It is important to give updates and give a proposal of new plans that would help both of your businesses to improve from time to time. This includes possible ways to advertise both of your businesses, recommend employees, and in formulating new services and products that would become useful for your businesses in the future.
As you begin your small business, it is important to become knowledgeable about being corporately competitive. There are a lot of businesses out there that might have the same services as you do such as large companies. However, do not lose hope! They also started the way you did. They also partnered with other businesses because they also know a start-up business would find it hard to stand alone. Thus, set a professional relationship with your preferred partner to help boost up your small business’s goals for success.