At what point do you look to other businesses for help?

The low-cost ways to grow your business — Krisha Marker mentioned in particular "forming alliances" to overcome hurdles which caught my attention. Have you ever teamed up with other businesses to solve a problem?

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Answers (1-10)

We are on a quest to develop affiliates and joint ventures to help us market our coaching programs for women. There is so much opportunity in building a team of supporters for your business. Start collecting an advisory board, providing them some benefits in being willing to do so. Be open to  feedback from them for what you are doing so you expand ideas. Everything in life should be done in partnership and community. I facilitated a course called Partner in Excellence (PIE) for 8 years to support women in blooming where they are planted. How to grow your current relationships, personal or professional and how to build new ones.

I agree with the others here that you will always find ways to collaborate with other businesses.  We have been around for over 15 years here in Tucson, AZ and have developed a ton of valuable relationships with other businesses, both clients and vendors of services we don't offer.  Your question, specific to forming "alliances" seems to be directed at forming working relationships with competitors.  Such arrangements also have value, but need to be entered into carefully.  Be sure that the potential overlap and transfer of knowledge is in your best interest, as the other side will be doing the same.

Businesses teaming up to help each other is what Metro Trading is all about. Helping each other succeed, cross hurdles, and grow. By cooperating with others in the Association you are able to put what you have in excess, whether that be time, inventory, or knowledge, to work for you. You get to earn and spend to help your business grow and get through those tough times! Small businesses have to stick to together, and help each other. Our founder once said, in barter exchanges there is no recessions. A low in the economy means that people have a greater need to rely on what they have to grow. 

When it is time and cost effective for both us and our clients. Example: Many years ago we used to build our own ecommerce software. As ecommerce solutions evolved and competition between ecommerce software companies grew, it didn't make sense for us to compete in the ecommerce space. We were web designers and developers first, search marketers second and arguably ecommerce developers third.

We could no longer offer a product with the features the big ecommerce software companies had, nor could we match the dropping prices for licensing or cloud-based options. We decided to focus on helping our clients choose between the best solutions available and then perform install, customization, training, etc.

By doing this we have been able to continue to profit from the ecommerce side of the industry, drastically limit our time in development/research and offer solid solutions to our clients. Win/win/win.

Actually I team with other businesses quite frequently.  Covey explained how competition is good, but collaboration is better (Primary Greatness, 2015).  Often our schedules become so packed we are unable to take on new clients.   It’s good to be able to share names of others who will provide equal quality service.  Ultimately clients will gravitate to the best fit for them.   Business is better with healthy competition, and always speaking respectfully of others.  If we are not professional business owners, we then are no better than mud-slinging politicians.  

The keywords in this question are "teamed up."  When and if there is an opportunity to interact with another business in such a way they enhance the phenomenon of being on your team, then it is an opportunity.  So it isn't just about the solution you are seeking, but also about the relationships with other businesses.  

Absolutely!  Think this concept as a car.  You bought one and started to add accessories (GPS, upgraded audio, phone holder, etc.)  These help to solve or enhance your issues.  We always team up with others so we can offer a more wide amount of service.  For example, we have a strong first responder training program.  We just teamed with a new,  immediate response software programmer whose item notifies all employees of a problem at the touch of a button on your cell phone.  This enhances both companies' offerings.

We team up with other businesses when we are faced with challenges that exceed our ability to effectively apply our core competencies to meet or exceed our customers' expectations.

As an Operational and Financial Consultant, it is very common to be engaged by a company in an industry in which you have little to no experience.  Our world today is very complex, no one individual has a broad detailed experience or knowledge to be able to provide the best for their clients.  After 25 years as a CFO in a number of industries and 18 years as a consultant, I have amassed a significant number of networking partners.  

There are occasions when I just need to discuss a specific matter with an expert in that field.  If the issue requires skillsets that I do not have or don't feel comfortable with, I contact the best individual in my network, considering their hourly rate to be responsible for that specific matter or task.  It is quite common for individuals in my network to bring me into a project for which they are responsible.  Almost all of my work comes through referrals.  

Just this week, I was asked to consult on a project by the CEO of a company located 150 miles away.  This project is to assist in the determination of succession planning for a family-owned business that has clients all over the country.  There are also specific plans for growth, including adding a new division to the company.  

There are siblings who work in the business and sibling who have businesses of their own.  The family patriarch wants to ensure the new President will be the best for all involved.  The options include bring in an outsider if the determination is made that a family member does not have the skillset to be President and led the company going forward.

A project as the one described above will require skillset which I do not have.  A decision will be made by the CEO and/or myself to bring in those skillsets as needed.






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