Forming Strategic Relationships for Business Growth
Are you one of those small business owners who frequently feels “stuck, exhausted, overwhelmed, or alone?” Is it because you need more support, lack resources, or that growth seems to be elusive? Having a strategic alliance or partnership could be the answer you need. This is in fact one of the most untapped growth opportunities, especially for small businesses. But, successful companies have been doing it for years. Having strategic alliances helps them manage their businesses and level the playing field with competitor firms....
read moreHow Can Strategic Alliances Benefit Small Business?
Given the current state of industry competition today, businesses are taking advantage of every opportunity to grow successfully and survive. They are teaming up and forming alliances to share resources and expand brand awareness with lesser risks and capital. As a small-business owner, you need others to grow. If hiring an employee, testing new business ideas, or getting a service is not the best solution, then engaging in a strategic alliance could be the right solution. One way to enhance your competitiveness in the marketplace and keep...
read moreHaving a Successful Business and a Life is Possible
Managing a business is never easy. Business owners know how much time, hard work, and sacrifice it takes; not to mention the never-ending lists of things to do. Many entrepreneurs struggle with running a business and having a private life: The balance between career and lifestyle is elusive and often not very straight-forward. However, it is still possible to achieve it: no one should be faced with a choice between the two, because you could have both if you manage to find a way to make it work by understanding your priorities. The...
read moreWays to Plan for your Business Growth Expansion
To grow and expand your business, you need a solid plan. Without any roadmap, you’re bound to make changes that will get lost along the way. This is something that you don’t want to happen, right? So, where can you start? Here’s a quick guide on what you can include in your business expansion plan. 1. Define your reasons for expanding. Clearly define why your business needs to expand. Does your business have a greater demand for products or services? Do you feel the need to expand into a new market or location? 2. Determine...
read moreGuidelines in Creating Successful Strategic Business Partnership
The growth and success of small business depends on creating meaningful partnerships. While the advantages of entering into a strategic partnership are vast and varied, it is essential to structure partnerships in a way that the arrangement would be beneficial to all parties involved. Ask yourself the following questions to understand whether you are making the right move: What are your goals for entering into a partnership? What do you expect to gain? What can you offer to the partners? What are your core competencies? How does the...
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