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How do you choose the right business partner?

Going into business with the right business partner can be truly rewarding, but only if you pick... read more

Asked by:
Phil Khor Founder at SavvySME
Apurv Bhalla CPAAccountant at Success Tax Professionals in Parramatta
I have experienced in past that partnerships only work when the partners have different and defined roles to perform in the organisation. This reduces the chances of any arguments. If every partner tries to work on similar tasks then work becomes very hard. Thus partners need to be patient, has business acumen and be able to understand extent of their roles as well,
Lisa OrmenyessyBusiness Coach and Marketing Specialist at Straight Talk Group
Very carefully!
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Questions

Do informal business alliances really exist?

Are you aware of any examples of successful informal business alliances? What did they look... read more

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Hi Leo, we have some informal alliances in WSI. We have struck these alliances with businesses in affiliated OHS/WHS businesses offering complementary services, such as Jim's Test & Tag, Risk Smart Insurance, Detector Inspector among others. These businesses can offer services to our customers and we are happy to refer them on the basis that we know they will offer the level of service we expect. We also receive a significant number of referrals from accountants, lawyers and business advisors who have clients who need an inexpensive but comprehensive solution to OHS/WHS. For me, these work better unofficially, provided you partner with businesses who you know will impress your clients and edify you through the referral.
Lisa OrmenyessyBusiness Coach and Marketing Specialist at Straight Talk Group
Hi Leo, We have a number of successful informal business alliances.  What do they look like?  Our alliances are business owners that can add value to our clients.  They share the same values and ideologies as our consulting business; Straight Talk Group, and value relationship above all else.  How do we maintain and encourage them?  Every 6-8 weeks we hold a not networking 'get together'.  Basically its a casual BBQ where clients and alliances can come for 5 minutes or 3 hours and just hang out and say hi.  It is a 'getting to know you better' scenario, and despite intentionally having it as a 'not networking' magic happens.   I hope this helps.   Warmly, Lisa
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Business partnership

Join forces with partnership marketing

Partnership marketing is a form of marketing that many businesses don’t know about or don’t... read more

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Wendy HuangFull Time Blogger and YouTuber at A Custom Blog in 4 Minutes
Partnership's are an amazing opportunity when you don't have a lot of cashflow. Thanks for the article Maria!
Business partnership

Match making for business partners

Finding the right people to work with you on your business venture can be challenging.  Some have... read more

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Allan Bennetto Founder at JMango
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Wendy HuangFull Time Blogger and YouTuber at A Custom Blog in 4 Minutes
Sometimes I joke that finding a business partner is even harder then finding a marriage partner! Lots more to consider as you've listed above!
Business partnership

When Is It Appropriate to Ask for a Favor?

Business & Small Business Log In | Join Log In | Join Log In Join...read more

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Business partnership

Russian roulette or texas shootout? why you don’t want to be on the wrong end of a shareholder agreement dispute

There are literally hundreds of thousands of business operating in Australia as partnerships or... read more

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Business partnership

Contract negotiation, the art of closing the deal and protecting your business.

    It’s exciting entering a new partnership or venture and most of us just want to get started... read more

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Business partnership

Getting ahead in business with strategic partnerships

Why strategic partnerships   “If you do not seek out allies and helpers, then you will be... read more

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Phil Khor Founder at SavvySME
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Business partnership

Creating relationships from B2B deals

To survive in the business world, you would have to deal with businesses almost every day. It is... read more

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Eric PhuahOwner at Hystericalz Pty Ltd
Good tips to go by when dealing with B2B relationships, thanks for the article Han!
Business partnership

6 Ways of Building Better Partnerships to be Successful in Business

Who travels fastest, travels alone – the proverb does not work when it comes to be successful in... read more

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Michael Evans Manager at 3leaps
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