Strategic Alliances: A Great Way to Leverage your Expertise or Product Offerings

A Strategic Alliance is a joint venture between two companies or two people in the co-relational industries.

As a small company in the industrial packaging industry, for 16 years I have used strategic alliances at Edge Packaging Systems,, to leverage and maximize my offerings to clients.

How I have accomplished this is to partner with companies who have expertise in areas that I have either cursory knowledge or they can provide me with a look of a much larger organization than I am thus being able to provide my clients with just about anything they need.

Some examples of how you can create a business partnership include:

Competitors – yes seek out those who have a mutual interest to help you.

Expertise:  If they have a particular expertise that you lack, consider how you can use them as consultants for a project.

Product Offerings:  If you have a need for your client but cannot provide from your current sources, look at the possibility to partner with a competitor.

When you partner with a competitor, obviously you must lay down some ground rules that will make it mutually beneficial to both of you.

Vendors – are a great resource for helping finance business ventures.

Financial:  Many vendors will give extended terms to emerging companies to help them jump start their businesses.  Sometimes it is a matter of asking for the assistance.

Utilizing the expertise of a competitor or obtaining the financial assistance from a vendor is just two great means to leverage your company and product offerings.  Usually it is just a matter of asking for the help.  It could be your EDGE over Your Competition!

Peggy P. Edge (c) 2014