Recommend
Print

Growing

Getting big on brand partners

By Jack Delosa
Tuesday, 09 November 2010

Jack Delosa - The EntourageSize matters. Yet the majority of business owners have an ineffective strategy of getting big.

 

Approaching a growth strategy on your own, without leveraging through large organisations, is one of the quickest ways to ensure you remain small. Strategic relationships accelerate growth. Fast.

 

Facebook and Skype have been rumored to be setting up an alliance which will see the two companies hook up with Skype’s phone and video capabilities, integrated into our Facebook pages.

 

A deal such as this will see Facebook gain new capabilities without having to build them, and while Skype will leverage massively through Facebook’s 500 million user base.

 

The fact is, you don’t have to be the next Facebook or Skype to start leveraging through mass distribution channels.

 

In my most recent project, The Entourage, we were leveraging off some of the biggest brands in the country before the company had seen its first birthday, giving us access to 200,000 potential clients when we had a marketing budget of zero! Imagine the difference that can make to the bottom-line of a small business.

 

So how can you do this?

 

1. Ensure you have a brand that people want to work with. This means you need to both look and act the part.

     

    2. Identify three companies that are complementary to yours. This might be the company customers go to before they come to you, the company they visit after they’ve come to you, or another business that has the same target market, but a different offering to yours. All these businesses are Joint Venture Targets (JVT’s) and the bigger they are, the better.

     

    3. Work out the structure of the joint venture:

     

    a. Do you want them to send an email to their clients talking about the great things you do?

    b. Could they offer a product sample of yours, when they sell their products?

    c. Could they offer a gift certificate to their clients from you?

    d. Could they feature your company as a value-add on their website?

        4. Make them an offer they can’t refuse. This might be a revenue split on any sales they generate for you, because they are sales you wouldn’t have otherwise had, you can afford to be generous here, 80% of something is better than 100% of nothing.

         

        Can you reciprocate what they have done for you, offering your clients something from them? Or could your giveaway to their client base be that good, that they just have to pass it on to their clients because it makes them look good?

         

        The main thing to keep in mind when approaching companies to partner with is to ensure you are approaching the conversation from a standpoint of what you can give. You have to genuinely have the JVT’s best interests front of mind.

         

        Master this marketing technique and you will have more demand on your business than you can handle, which will force you to grow. As I once laughingly read on the side of a protein shake, “life’s too short to be small.”

         

         

        Jack Delosa built one of Australia’s fastest growing ventures, MBE Education. Today Jack heads up The Entourage, a movement which connects Australia’s best entrepreneurs with Australia’s next entrepreneurs. http://www.the-entourage.com.au/

        Did you like this article? 

        Sign up to the StartupSmart Newsletter to receive a daily news wrap-up straight to your inbox AND a free eBook!

        Invalid Input

        Comments (4)

        Subscribe to this comment's feed
        Josh White
        What great tips on how to obtain strategic growth for your business. I believe these tips are extremely important and relevant to entrepreneur's and business owners like myself. Would love to see more of these articles from Jack Delosa.
        Josh White , November 09, 2010
        • report abuse
        • +1
        • vote down
        • vote up
        Lippy
        Joint Ventures are very impotant... especially while you are not that big! But be careful with who you enter into joint ventures and make sure that it is in your interests in the long run. Great article Delosa!
        Lippy , November 09, 2010
        • report abuse
        • +0
        • vote down
        • vote up
        nikkidurkin
        Thanks for the great article. Customer acquisition by leveraging other business' distribution is definitely something I'm thinking about for my business. Kudos for the practical tips.
        nikkidurkin , November 09, 2010
        • report abuse
        • +0
        • vote down
        • vote up
        stephjju
        Great advice superstar! Love that you get what you give philosophy for business! The more entrepreneurs who thik this way they better, for them and for busines growth globally.
        stephjju , November 09, 2010
        • report abuse
        • +0
        • vote down
        • vote up

        Write comment

        smaller | bigger

        busy
        SmartSolo-Tile
        Invalid Input
         
        SmartCompany Smart Reads
        • Apple’s $US1 billion patent win against Samsung slashed in half by a US court, possible...
        • Yahoo! repositions itself as a tech company rather than an online media giant, discontinues ...
        • Would you like a charge with that? McDonald’s Europe trials wireless charging stations
        • Vodafone in damage control: Company dismisses class-action lawsuit and pumps local customer ...
        • Evernote hack yet another warning of cloud danger for Australian SMEs

        Follow us

        StartupSmart on Twitter StartupSmart on Facebook StartupSmart on LinkedIn StartupSmart on Google+

        Subscribe to StartupSmart RSS feeds

        Sponsored Links

        Our Partners

        SmartSolo sign up
         

        Private Media Publications

        Crikey

        loading...

        Smart Company

        loading...

        Property Observer

        loading...

        Leading Company

        loading...

        Womens Agenda

        loading...