Finding he right business partner is a good method for driving business growth. , That’s why Alan Sugar searches for a new business partner each year. An owner of a small business does not have a 14-week TV series to find the right business partner.
Therefore, In this article you will learn why active social listening helps you to find the right business partner for you to reach your goal. It is a practical, thrifty solution to your needs.
Why beagles?
A pair of beagles illustrate this topic because those dogs are known to be happiest when they live together. So, beagles are a useful reminder for you that your best outcomes may not always be achieved on your own. As a business owner, you might reach your goals better when paired with the right companion.
Dig into the benefits of working with the right business partner by reading this article by McKinsey here . It gives tips for a good partnership. Furthermore, it reminds you of the benefits of combining with others to access new markets, channels and expertise.
Consequently, whenever you spot an opportunity for your business to develop a new idea you can pause to consider, if it is right for your strategy for you to seek another business owner with whom you can collaborate?
Beagles work well together because they are bred to live and work in a pack. Their compatibility is set within their genes. Consequently, those dogs know that togetherness will fulfil the need for companionship which they crave. It will be crucial for you to know your purpose for finding the right business partner.
Ideally, you will seek a partner who wants to reach the same goal as you do, that’s why a good partnership or collaboration is described as a strategic alliance it will be by working together that you will reach a shared goal. You can check whether a partnership is be right for you here
I recommend that you take great care when you look for a business partner. Social listening offers you a chance to know about your target partner before you make an approach to start a business collaboration.
3 ways that social listening can help you to find the right business partner.
1. Recognise the need for collaboration:
Firstly, By tuning into your customers’ comments you will be first to know about what they need in your sector. If you cannot deliver it yourself then their words can be a signal for you to find a partner .
2. Identify shared values:
Secondly, a good partnership needs to have the right chemistry for success. You can learn a lot about another business when your listener monitors their online activity closely. You can decide to what extent they behave in line with their brand values. You can spot if they use similar hashtags to yours. A review of their online behaviour will help you to decide whether or not you will fit well together.?
Furthermore, you can note whether they are consistent with those brand values . A partnership will be less likely to succeed if one partner is prone to be unpredictable.
3 Identifying new opportunities:
Finally, When you find a target partner who feels right your next step will be to check if they really will be the right business partner for you? Do they meet your business goal for the collaboration? You can learn plenty from their online presence. For example, will they be able to introduce your brand to a new audience which is relevant for your offer? Importantly, you will be able to hear whether their followers have any unmet needs. Will there be a chance for you to bring a new solution to their audience. How can those benefits be mutual? When you prepare the ground for a partnership you must always remember that both players must get some benefit from the tie-up.
Find strength with the right business partner
Just as both beagles are happier in each other’s company, both business partners must feel equal benefits from a successful partnership. Together you can be stronger than you are alone as is said by Richard Branson in this week’s memorable quotation: “Seek out strategic alliances; they are essential to growth and provide resistance to bigger competition.”
With careful use of social listening you will be able to find the right business partner for you who will be compatible, reliable and shares your goal. You will thrive together happily like a pair of beagles
. Lisa Beaumont Thrifty Marketing Tip of the Week:
You can Follow and support those businesses which attract your target-audience. You might spot an opportunity for collaboration by tracking their content.