Strategic Alliances for Mutual Benefit

February 16, 2018

By Astrid Vélez*

Now is the time to benefit from actions that allow companies, talents and businesses to grow rapidly and effectively. It is time to make strategic alliances.

Are you a business owner, a manager, a team leader or a visionary entrepreneur? There is a tool that allows you to grow your business, meet your needs at the same time as you meet your customers’ needs, and does not require a large investment. I am talking about strategic alliances.

These ties allow a strategic positioning of the business, company, product, service or talent. They are successful in the measure that they satisfy a need through an exchange that has a palpable, tangible value. Similarly, these mutually beneficial exchanges between companies are key tools for growing in market segments or territories.

Strategic alliances are an effective way to expand without impacting your company’s finances. By expanding, I am referring to conquering new market niches, adding value to support customers based on new trends, reaching new generations and incorporating innovation, among other things.

As a strategist specializing in developing strategic alliances, I have seen a common denominator among clients: the need to increase sales. But sometimes the company does not have the needed human resources or the capital because it requires an investment. If you identify with this situation, you are a candidate for considering this tool.

To begin the process of making an alliance, identify your business’ needs and the value you wish to generate. Next: evaluate and identify your value, that of your company, product or service. As I said at the beginning, one person’s need is a business opportunity for another and making this exchange produces a strategic alliance that has an impact.

Next, evaluate prospects that can meet your needs. Here is what you should consider when you are evaluating a prospective alliance.

  • What is the company’s identity? Who are they?
  • What do they offer?
  • Who are their customers?
  • What need for growth does the prospect have?
  • What value will your customer gain?

In my practice with local and multi-national businesses, I have shown double-digit growth in sales by small businesses, have had results of more than $1 million in growth in one year by an international business and have prevented imminent closures, among other achievements. It is time to create a new business vision that allows us to embrace new opportunities. I invite you to begin with strategic alliances.

 

*Astrid Vélez is an international business strategist, coach and speaker, as well as the owner of Astrid Vélez & Alliances. She is a specialist in transforming central areas of businesses and companies to achieve increased sales rapidly and efficiently. Innovation, self-motivation and strategic alliances are some of her main tools.

Banco Popular de Puerto Rico (Popular) has no affiliation or relationship with Astrid Vélez & Alliances. This article is informational and does not represent an endorsement or guarantee of the accuracy of its contents. Neither Popular nor any of its affiliates, subsidiaries or related entities are or will be responsible for any special, direct or indirect, or incidental damages, including but not limited to loss of earnings, resulting from or related to communications, articles or advice provided by Astrid Vélez & Alliances or that may arise from information contained in this article. Popular is dedicated to providing banking services and does not provide (directly or indirectly) any type of tax, accounting, human resources, training or marketing services. In the event you require any of those services, you should consult the competent professional advisor of your preference. Popular is in no way responsible for the results of any related effort if you decide to communicate voluntarily with Astrid Vélez & Alliances.

ˆ