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The New Strategy for Success: Forming Business Alliances

Businesses today are more vicious than ever during this economy, or so said by one business owner. But is it true? Or are we working closer together?

Recently I was with a business owner and heard her lament after some decades in business, that this down turn in the economy is driving businesses apart and not together.  That unlike recessions in the past it seems like everyone is out for themselves.

Other than the fact that this comment was sad it caused me to think.  Has it really become more dog eat dog in the business world?  Or was this an isolated feeling shared out of her own frustration?  I did some research online, read some Gallop polls and all I could find was a constant theme. 

Today, businesses are working more collaboratively than ever before.  There is a sense that we are in this together and we have to work together.  So while this person shared a degree of frustration, it was not an accurate evaluation as a whole.

Competition will always exist but businesses are increasingly finding the value of making connections with other companies in the event there could be shared profit at some point later.

In the book, One Decision, written by Dr. Judith Wright, she explains the difference between friends and allies.  "Friends merely hangout; Allies share a Quest.  Friends merely feel sympathy for you; Allies share the risks with you."

I draw a further difference when it comes to business.  Alliances are agreements between companies who are within the same industry but offer different services and products.  Partnerships are agreements between businesses who have the same target prospect.  Therefore, strong Alliances and Partnerships are extremely important to your long term success. 

Take time out and consider with what businesses to you share a symbiotic relationship?  Start with a list of industries, look up the names of the leaders of those in your service area and then set up an appointment to talk.  Build. Build. Build.

Join a Chamber of Commerce, connect with a Leads group and participate.  Membership in a Chamber without participating is like buying a treadmill and waiting for it to reduce your weight.  To get true value of that membership you must immerse yourself into its program.

A great opportunity will be held Tuesday night at the Whitetail Ridge Golf Club in Yorkville.  This event is sponsored by Leads Group One, from the Yorkville Chamber of Commerce.  No cost to attend and plenty of opportunity to meet and form alliances.

If you would like more information click on this link.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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