By Simone Novello, Managing Director of Partner2GROW,
52% of businesses on the Fortune 500 list in 2000 are gone (UpStart Business Journal June 4 2015). Nobody can afford to be complacent, arrogant, or go it alone.
Creative disruption presents enormous opportunities for businesses of all sizes, but those who choose to ignore it, are volunteering for a place on the extinction list.
In a world that is moving at such a rapid pace, how are businesses supposed to keep up? It can be utterly overwhelming.
What singular strategy can help a business achieve growth, resilience, and the ability to disrupt in a way that keeps it propelling forward, well into the future? (hint: it’s not a Facebook ad :-P).
A business can future proof itself in good times and bad, through the right strategic partnerships.
It’s an exciting time in business. ‘SMEs and startups are particularly celebrated among global executives; 85 percent of business leaders want to collaborate more with SMEs. Those who do make this leap appear to be reaping the rewards‘ says the GE Global Innovation Barometer 2014.
‘Two-thirds of the companies that collaborate on innovation activities, report that their associated revenue and profits have grown over the past year.‘ Those who are truly prepared and proactive in a collaborative world, are without a doubt ahead of the game.
And this is not just the domain of audacious start-ups and impressive big business in the thrusts of innovation. Partnerships are for everyone, at any stage or size. Even simple marketing partnerships can have an enormous impact to the success of a business – helping them get ahead without the intense stress, pressure, and overwhelm of trying to keep up with the myriad of demands in a business.
How do I know? Because at Partner2GROW, we do it every day. I’ve been monitoring global collaboration trending for over 12 years. Partnerships and collaboration is all we do. It’s the only way we grow our own business, and that of our clients. With good reason.
At every speaking engagement and event I run, I now ask the audience to tell me about any marketing activities with which they are having great success (because I really want to know!). I’ve noticed a trend. After a painful silence, one, maybe two people raise their hand and describe something that worked for them – and it’s ALWAYS a marketing partnership of some description. Many business owners do it by accident.
Traditional marketing quite simply, doesn’t work as a strategy. Many self-proclaimed guru’s and experts teaching marketing tactic and fads, positioned as the latest magic pill solution, are having little success with it themselves – and it has no longevity, because it’s too easily replicated until the market is again saturated.
So if you want sustainable results, long term growth (as well as much needed quick wins), why not leverage the assets of an aligned partner who truly engages with your vision, and believes in the value your product/service can offer their customers?
You can learn so much about what really works when it comes to marketing to your ideal customer, without having to wade through the trial and error of the latest miracle solution. In fact, when you shift your mindset from transactional relationships to true collaborative thinking, you’ll never have to sell again to create more revenue and abundance in your business.
Strategic partnerships are the most efficient way to:
So ask yourself, who could you be forming lucrative strategic and marketing partnerships with right now?
Customers (especially your early adopters);
- Businesses you patron;
- Suppliers; and/or
- Complimentary businesses, serving your ideal target market already in your network.
Here’s what I have observed and respected about businesses and people that are genuinely successful (success means so much more to me than money).
- don’t look for magic pill solutions – they research and commit to real solutions;
- act strategically not tactically;
- collaborate, they don’t compete;
- create, not copy;
- surround themselves with trusted advisors;
- know when to invest, and when to bootstrap;
- are proactive, not reactive;
- don’t compromise their integrity no matter what;
- remain authentic and discrete – in good times and bad;
- are strategically generous (always looking for the win win);
- trust themselves; and
- have the courage to disrupt, so they lead, not follow.
Committing to the right partnerships means you never have to engage in the sales process again, because every interaction is quickly assessed based on it’s a win-win potential. Even with your partners – a collaborative mindset, framework, and strategy, means you don’t sell. You create value and revenue together.
I believe so deeply in the power of the right strategic partnerships for businesses of all stages and sizes, that I have dedicated my career to helping businesses ‘do better together’. The right partners are a pipeline for innovation, and help each other stay ahead of the game by leveraging each other’s strengths, and sharing resources.
Partner2GROW has been structured to help you achieve your objectives within your budget. Click here to find out more about us and the clients we are helping.
If you believe you’re ready to commit to strategic partnerships in your business, you may want to join us for our last confirmed, public PartnerUP Intensive workshop for 2015. Please get in touch with us immediately (visit our website), to find out if it’s right for you, as it’s just a few weeks away and places are very limited.
About the author
Simone Novello is the Managing Director of Partner2GROW, an ex-corporate entrepreneur and keynote speaker. She is considered to be one of Australia’s foremost Partnership Marketing Experts, and has been recognised with many awards during her nearly two decades in the industry. For more about Simone click here.