How to establish a business partnership

Are you planning collaboration with another company or already in an alliance? This is a good way to offer something you cannot offer on your own. It is common practice in technology or outsourced services but rather less so in sales. If you want your alliance to be successful, find inspiration in some advice published by Bizjournals.com.

1) Prospect of profit

If you spend time creating sales plans, make sure you negotiate with a customer who is interested in buying from you and ultimately is able to do so.

2) If you belong to the best, set conditions

If you rank among the best salespeople and someone asks you to help them to do what they cannot, demonstrate your position of strength. Arrange for the right to lead the sales campaign and a share of the outcome.

3) Check out their ability

If you work with partners who will be selling your goods, make sure they really are able to do so and are sufficiently motivated. Set conditions which suit all parties involved.

4) Keep your best skills to yourself

Do not teach your partner what you yourself are very good at. Otherwise your role in the business partnership may become meaningless.

5) Do not rely exclusively on someone else

Even if you have an excellent business partnership, do not automatically assume it will last forever. If it falls apart, you have to be sure you can deal with the situation without problems.

6) Gradual growth

Do not expect sales miracles from the very beginning. A business partnership improves with time, so keep trying.

7) Solve problems as quickly as possible

If you, your partner, the market or results are not as you imagined, take prompt action. Procrastination or an insufficiently solved problem will only cause trouble to everyone.

8) Unite with one brand

Usually it is best to highlight just one brand to represent you. Of course, the best choice is the best known one. Or you can create a new one.

9) Choose your partner carefully

Does someone want to establish a sales alliance only because they are unsuccessful, have poor selling skills or are disconnected from the marketplace? Then you should fill the gap and your partner must offer something you cannot. If this is not the case, exit immediately.

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Article source The Business Journals - business news from individual U.S. regions
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