How would you describe your business relationships?
With few exceptions, our businesses survive and flourish with help from others external to our circle of influence. From the very earliest precepts of civilisation, successful societies have relied on mutually beneficial alliances or relationships.
A Strategic Alliance is a relationship between two or more parties that remain independent but promote each other’s skills, products or technology to mutual benefit.
A symbiotic relationship could exist on the High Street where a Funeral Director , Flower Shop and Memorial Stonemason might locate their retail outlets in close proximity to each other.
This one is a little one sided where one business benefits in isolation. For example, visitors to a room only hotel might use the facilities offered by a near-by eatery, but diners at the restaurant would not benefit from the proximity of the hotel.
You can grow your business by understanding and developing your business relationships.