Before you team up with a marketing partner, get the answers to these important questions:
- How well do I know my potential marketing partner?
- Do we have professional chemistry and the same business philosophy?
- Do we have a similar amount of experience running our businesses?
- What resources can I offer my marketing partner, and what can he or she give me?
- If the partnership doesn't work out, can we easily dissolve it?
For more information, consider these resources:
- The Art of Partnering: How to Increase Your Profits and Enjoyment in Business Through Alliance Relationships, by Edwin Richard Rigsbee (Alliance Works, $24.95, 805-371-4636), offers a nuts-and-bolts approach to forming business partnerships.
- Intelligent Business Alliances, by Larraine Segil (Times Business Books, $25, 800-733-3000), explains how to select a partner, create realistic goals and manage the partnership.
- Walk Your Talk: Growing Your Business Faster Through Successful Cross-Promotional Partnerships, by Kare Anderson (Ten Speed Press, $17.95, 415-331-6336), provides strategies for teaming up with other businesses to promote your products or services.
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