Power of Partnerships
Power of Partnerships
Rick Wolfe of Poststone Corp suggests that if you look at the biggest companies, almost everyone sells through partnerships, examples from Fortune 500 include, GM, IBM, Ford, Microsoft, Exxon, American Airlines. Each of these firms generate a huge percentage of their sales through partnering with other firms. Often these partners are relatively small firms.
Typically small businesses resist partnering and as a result stay small. The advantages of partnering include being able to leverage your partners assets without having to spend the money they did to develop the asset. These assets can include their products, their intellectual property, their trade secrets and their client base.
Today's Action Plan.
If you don't already partner with other businesses, particularly as a channel to market, you are missing a huge opportunity. What companies already deal with your customers and could be a channel for you to market through? What could you offer them that would make it worthwhile? Alternatively what products or services could you get from other suppliers to market to your customers?
Power of Partnerships - To learn more about this author, visit Michael Hepworth's Website.
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Ask an owner of a small business if they want a partner and they look at you as though you are mad. Its true most of us don't want or need an equity partner in our business, however it may not be possible to really succeed in business unless you embrace the notion of partnerships.
Rick Wolfe of Poststone Corp suggests that if you look at the biggest companies, almost everyone sells through partnerships, examples from Fortune 500 include, GM, IBM, Ford, Microsoft, Exxon, American Airlines. Each of these firms generate a huge percentage of their sales through partnering with other firms. Often these partners are relatively small firms.
Typically small businesses resist partnering and as a result stay small. The advantages of partnering include being able to leverage your partners assets without having to spend the money they did to develop the asset. These assets can include their products, their intellectual property, their trade secrets and their client base.
Today's Action Plan.
If you don't already partner with other businesses, particularly as a channel to market, you are missing a huge opportunity. What companies already deal with your customers and could be a channel for you to market through? What could you offer them that would make it worthwhile? Alternatively what products or services could you get from other suppliers to market to your customers?
Power of Partnerships - To learn more about this author, visit Michael Hepworth's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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