3 Ways to Partner Successfully With Other Business Owners

Posted on September 5th, 2016

One of the best ways to promote your business is to work with other business owners. It might sound counterintuitive to promote someone else’s business, but the truth is that the more you work with other entrepreneurs, the better and stronger your business will be.

Of course, you might not want to work directly with someone who has exactly the same business as you do. For example, if you own an auto repair shop, you probably shouldn’t recommend a competitor.

However, entrepreneurs who are creatives like writers, artists, speakers, and bloggers can help each other by referring clients who aren’t exactly a good fit for them. To give a personal example, sometimes I refer potential clients to other writers if they aren’t a good fit for me. Perhaps they want more articles than I have the time to write or their budget isn’t exactly right. Either way, instead of just saying no, I like to give other writers the opportunity to have extra work. After all, what goes around comes around!

Here are some other examples of other ways you can work with other business owners:

1. Promote Each Other on Social Media

Promoting other businesses on social media is easy and simple. There are many different programs that you can use to schedule your social media updates. So, all you need to do is agree with another business owner to promote each other a few times a week. They might share your blog posts on Facebook and Twitter and you might mention them in the description of your latest YouTube video. Whatever it is, promoting each other can be a helpful way to grow your business and form a valuable relationship with another business owner in the process.

2. Hold a Joint Event

Events are a great way to generate buzz in your business. It can be as small as having a coffee shop gathering to answer questions from potential clients and as big as renting out a large space and inviting speakers and hiring caters. If you parter with another business owner in creating an event you not only get someone to help pay for the event but you can also give your guests two business owners who can help them with various problems. Events can also bring valuable PR from local media, especially if proceeds go to charity. Your business names could be mentioned online on in your local paper, which can bring in even more business.

3. Give Referral Bonuses

Lastly, you can parter with other business owners by giving them referral bonuses. If they send a client or customer to you, you can offer them 5-10% of any purchases they make. This encourages other business owners to recommend you. This works really well for people in different businesses but the same industry, like photographers and DJs in the wedding industry.

Ultimately, it’s important to have the mindset that other business owners can help you to get new customers and clients. That way, everyone wins and gets important business allies in the process.

Catherine Alford

Catherine Alford

Catherine Alford is a personal finance expert that enjoys helping moms find their passion for paying off debt. She wrote the book "Moms Got Money" where she helps you crush your debt and live a happier life.

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