Here's a great way to market and have FUN! Whether you are the 1-on-1 person or the person who loves to be in front of a group, focus on building relationships. Relationships, especially in a service business, are imperative in building your business. There is a business relationship called Strategic Partnership. Let's look at the difference of formal Partnership vs. Strategic Partnership

Definition:

Formal Partnership

"A legal contract entered into by two or more persons in which each agrees to furnish a part of the capital and labor for a business enterprise, and by which each shares a fixed proportion of profits and losses." www.answers.com

Strategic Partnership/ Strategic Alliance

Creating a win/win situation for both parties. Looking for someone who matches your values and integrity. You have an understanding of each other's expectations. You have a common audience and commitment. You share resources and may even create a program together. By aligning with different strategic partners, your visibility increases by the number of each person's database. Hence, you get to market for someone else and they are marketing for you. I can't tell you how many entrepreneurs have told me how passionate they are about someone else's business and they could easily market them. Well, now's your chance.

Here is a great example I use in my program. It's called Lemonade for Sale. Yes, this is for entrepreneurs -- the "big" kids who want to have fun with their marketing.

Several kids have a clubhouse. It's in need of repair so they create a Lemonade business to earn money. Their first 3 days they show an increase in business and their income from their sales is mounting. All of the sudden, on the 4th day, sales drop like a ton of bricks. They started doing a little research and found a juggler at the end of their block. All of their customers were watching the juggler.

One of the kids had an idea. She approached the juggler and proposed a win/win strategic partnership. He moved his entertainment right next to their lemonade stand and they made more sales than they did all week.

I'm going to leave it up to you.

1) What do you think was the win/win in this partnership agreement? Want the answer? See the link below in the resource box.

2) What would you have proposed?

3) Just to get your thoughts in the right direction, think of other strategic partnerships you see everyday. Write down five.

I'll give you a hint, depending upon your geographic location...

Caribou Coffee and Brueggers Bagels.

3 Key benefits of Strategic Partnerships:

* Share Costs (if any)

* Expand your database with barely any work involved

* Having someone to toss ideas back and forth is invaluable and FUN!

Who do you know that compliments your product or service?

How would you search out a possibility on the Internet?

How will you make your approach?

Do you have a win/win in mind? If not, it's OK. Here's an approach I often use:

Email: Hello. I was on the Internet searching for __________ and I came across your website. I'm very interested in hearing more about what you do. Would you like to take a look at my site to see if there is a connection? I would be very interested in opening up a conversation.

Phone: Hello. My name is _______________. I saw your presentation and was very interested to hear more about your business. We may have a connection. Would you be interested in talking?

Make your marketing FUN!