Strategic Partnerships
Hey there you! :-)
So today is Part 1 of 2 discussing "Strategic Partnerships!" Running a business is hard enough, but trying to run it alone is a recipe for destruction.
As a Virtual Assistant, I am usually a “strategic partner” with my clients by providing VA services. A strategic partner is an individual or business that works in cooperation with another business to provide specific services or products in an area of expertise. They may also be referred to as “vendors”, “suppliers”, “service providers” or “independent contractors.” Depending on the type of business my client operates, and the scope of services I am providing as a VA, from time to time I may need to locate and work with additional strategic partners to complete a particular task or project for my client. For example, I may need to work with a webmaster, or car service in booking arrangements for a trip, a photographer to provide photos of my client’s event for me to post on their website, or my client may request that I regularly order their office supplies. Those are all strategic partners for me.
As a key note, one of the most important strategic partners you will lock in will be someone who does what you do. We all know that emergencies happen and some of us are flying solo as business owners. But you should always be able to rest knowing if something goes wrong you have a trusted vendor that you can call on to keep your business name out of the mud. We wouldn’t want that would we? :-(
As you can see, there are different types of strategic partners. It is impossible to provide a complete list of the types of strategic partners that may be needed since this will largely depend on your business type and client base. However, the following represents a few common types of strategic partners that may be useful to a variety of clients.
caterers
e-commerce solutions
electronics and computer equipment
florists
office supplies
virtual assistants
photographers
printers
sign shops
transportation
travel agents
virtual event / webinar hosting
wedding industry creatives
music industry executives
churches
publishing companies
graphic designers
Some of these service providers may need to be located in your client’s local area (e.g. transportation service, photographers or catering for events), while others can be online suppliers (e.g. office supplies and e-commerce systems). Sometimes your client will already have a preference and will request that you, for example, order from a local florist with whom they already have a relationship. However, there will likely be many occasions when they defer to your recommendation (and as a VA it’s my job to worry about these details so you don’t have to!). It’s helpful to have a list of trustworthy and dependable resources handy to call on that will meet your clients’ needs for any occasion. Especially in the Wedding Industry. As a Planner it was my job to provide vendors for most of my clients but could you imagine the brownie points you would receive if you were the Photographer on site, the Officiant was a no-show and you came through with a great strategic partner to pick up the pieces?!! BOOM!! You are now a Super Hero! LOL
Well, now that you know “who” your strategic partner could be and why they are important, let’s talk about “how” to find them. For most business owners, finding reliable strategic partners to suit all of your clients’ needs and preferences can be a daunting task. Fortunately there are some great resources available to help you find strategic partners for just about any situation, and you will be able to test many of them out for yourself in starting and running your own business. Here are a few:
Branding - Building your own brand will connect you with many great strategic partners (webmaster, graphic designer, photographer etc.).
Local Market - I know internet and social networks are popular these days but don’t neglect the local market. Research your local businesses. Try the Yellow Pages and your Local Chamber of Commerce etc. These can be valuable strategic partners for you and your clients.
Networking - attending local and national networking events and seminars will be a great winner. Also note that your network of other business that do what you do (both online and in-person) will also be one of the best places to get recommendations on reputable strategic partners.
Well, now we know “who” and “how” regarding strategic partners. Next week, we will talk about “choosing” strategic partners. Just because you find them, doesn’t mean they are a great fit. I hope you meet me back here next week to jump in!!
Til Next Time!
~RB
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