Strategic alliances are another way to accelerate your business results and to build business momentum.

A strategic alliance, as it sounds, is a business arrangement made between business owners as a way of creating mutually beneficial outcomes. An example of this kind of alliance would be when two business owners partner up for a project, and each brings their own expertise to the project, resulting in something better and more lucrative than either could have created alone.

Strategic alliances can sometimes occur as cross-promotional arrangements, such as when you visit your local bakery, and they are promoting the florist shop next door.

Most business owners would benefit from a regular habit of seeking out and cultivating strategic alliances. Here are 3 tips to help you build stronger strategic alliances:

1) Commit to doing this. Make a plan to reach out to one new potential business alliance each day. If you can’t meet one new person each day, commit to meeting one per week, or even one per month. The key is that you are actively meeting other business owners in your area, and are learning about their businesses, and telling them about yours. You can make this process easier by creating a list of 100 people you’d like to connect with in the next few months, and systematically going down your list day by day or week by week. Try to make connections with people who would be in a position to refer ideal clients to you, and who are in non-competitive businesses to yours.

2) Focus on how you can help them first. We are often able to give really good ideas and advice to other people, and this can be a good way to make initial contact. Find out what they need, and do your best to assist them, either with direct ideas, or by making connections to others. If you give out help and referrals, you will, very often, get them back. Look to how you can become a connector or a center of influence within your community, and become the person that everyone needs to know.

3) Remember that everyone is inspired by big thinking. Try to create large platforms or large projects where you and your newfound alliances can work together. One way you might do this is by creating an expert panel around a particular topic, and inviting your new business alliances to be on your panel. You should all agree to promote this panel to your respective customer databases, and consider seeking media coverage for this panel as well.

Most business owners would be glad to be associated with a project like this. If you come up with the idea, and move it forward, more business owners will want to connect with you and seek you out, because you will be seen as a big thinker; someone who makes things happen.

It can be tempting to avoid meeting new people (especially if you’re shy or introverted), but the fact is that meeting people face to face is one of the fastest ways to create referrals for your business.

Get started with a strategy to build your strategic alliance base, and use the tips in this article to help you.

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