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  There’s a lot that entrepreneurs can gain from partnering with other businesses. It allows you to access new markets and promote your products to audiences you’ve previously not reached. Ultimately, it could help you substantially increase your sales and scale your venture.
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However, finding businesses that will enable you to achieve these wins can be a difficult undertaking. They need to be the right fit for your enterprise and offer value that matches what you seek. This article walks you through the steps you can take to discover such businesses, build a relationship with them, and increase your sales. in doing so. First, we’ll talk about where to find quality partners for your business.

Where to Find Quality Partners for Your Business

If you’re hunting for good businesses to collaborate with, you can discover them by interacting with their representatives at industry events, trade shows, and networking events. Another option would be to join business clubs, which typically have lots of businesses as members. One example is Club Connect, a community of SMEs, startups and bigger companies in Nigeria. It offers many benefits to members, including the chance to partner with a wide variety of brands on any number of projects. It also gives members access to funding opportunities, targeted advertising, and sessions with business consultants. You can find out more about Club Connect HERE.

Steps to Multiply Your Sales with Business Collaborations

Here are five steps you can take to boost your sales with business collaborations:

Identify Potential Collaborators

We have already laid out a couple of places to look for potential partners. But you need to define what you want in one. Ideally, you’ll be looking for businesses that are complementary to your own. For example, if you sell clothing, you could collaborate with a jewellery company to create a complete outfit. Consider businesses that share a similar target audience as yours, as this will help to ensure that your engagement with them will be successful.

Build Relationships

Having identified potential collaborators, your next move would be to develop relationships. Reach out to these businesses and begin to establish a rapport. Attend events and trade shows where they are present, and make sure to follow up after those occasions. Try serving up something of value to these organizations, such as a complimentary service or product, to demonstrate your willingness to collaborate.
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Develop a Collaboration Plan

At this stage, you will want to develop a collaboration plan. Think about what products or services you could create with your business partner and how you can work together to promote these offerings. It’s important to create a plan that is mutually beneficial and that both parties are excited about.

Promote Your Collaboration

If you’re going to make the most of your collaboration, you’ll need to publicize it (and the products or services you’re selling through it). Make sure to leverage all of your marketing channels to reach your target audience. Use social media, email marketing, and paid advertising to get the word out about your joint offerings. You can also create special promotions and discounts for customers who purchase products from both businesses.

Measure and Adjust

As with any business initiative, it’s important to measure and adjust your collaboration efforts. Track your sales and marketing efforts to see what is working and what is not. Then use this information to make adjustments to your collaboration plan and marketing efforts to increase sales.
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Final Words

As a business owner, you want your venture to succeed. Part of the journey to the destination of success is identifying and working with partners who can deliver value for your enterprise. So, start exploring opportunities for collaboration today, and take the steps we’ve discussed in this article to ramp up your sales. Featured Image Source: LogicBay
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This article was first published on 14th May 2023


Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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