Note: This post was written by Virtual Assistant Academy, one of our valued community partners.
There is only one secret to thriving in the competitive world of business — building partnerships.
When they say no man is an island, they mean no one survives alone. At some point, in some way, you will have to depend on others for something. So it is important to build relationships that will help you on your way to success. But you can’t just randomly pick the ones you engage with. You have to be intentional as this is a form of investment.
Here are 4 business partners you should keep if you want to scale.
1. Corporate Partners
Finding new customers can help grow your business. But when you’re still starting out, it can be hard to get access to your target audience. You’ll need an established pool of customers who are already receptive to your business model. How can you find that?
Build corporate partnerships.
Developing relationships with other businesses in your space allows you to leverage their existing business relationships. This gives you an opportunity to build trust in your brand and consequently, entice new customers.
So now the question would be, how do you create this kind of relationship?
You can start off by reaching out to complementary businesses in your space and offering exclusive promotional discounts to their customer base. You can also look into the partner programs of larger companies. That way, you’ll gain access to a larger audience which is definitely an opportunity for you to boost your sales.
Referrals are also a great way to drive sales and increase your revenues instantly. When you have reciprocal referrals, you can create potential mutually beneficial long-term business partnerships.
Another revenue generating operation you can add on the side is engaging in affiliate or reseller programs where you can sell products or services of other brands to your own customers for a commission.
2. Mentors/Business Coaches
You don’t have to start from scratch. Some people have already paved the way for you. They have been through the difficulties you’re about to undergo, and they can guide you through these. They are called mentors or business coaches.
The most common trait among successful entrepreneurs is coachability. When you’re trying to do it all on your own, you can easily miss out on the idea that other people might actually have something valuable to offer.
Thinking you know it all is your greatest downfall as a business owner. Why? Because you’re not willing to learn. You’re not willing to innovate with the fast-changing times. Don’t let your ego get the best of you. Be humble and open your mind to learn from those who have already conquered the struggles you are facing now.
There’s nothing wrong with being a student again. On the contrary, it allows you to absorb as much advice and tips as you need in order to thrive.
No one starts off as an expert. But if you can find people who already know better, allow them to coach you. It’s faster to scale when you ask for directions from people who are already at the destination you’re planning to reach.
3. Financial Partners
Every cent you earn comes from your day to day hustle. You should be wise and practical when it comes to your financial decisions. At the end of the day, all you want is to maximize your profits and scale your business.
That’s why you should build strong relationships with credible financial partners—from your financial advisors, to your accountant, to your lender, and especially your payment service providers.
If you’re a growing business and intend to scale larger, expect to have many more financial transactions.
How great would it be to make secure, fast, and cost-effective international payments across markets and different currencies? That’s where Payoneer can help.
Payoneer is a fully licensed and regulated payments platform designed for your needs in the eCommerce business.
With Payoneer you can:
- Receive payment from any of the world’s leading marketplaces
- Pay your suppliers and VAT for FREE
- Manage multiple stores in one place
- Access working capital to invest back into your business
- Withdraw your earnings in your local currency at low rates
Payoneer is your go-to partner for managing your business payments, and at much lower cost than traditional payment methods. Contact Payoneer Support now and see how they can help you manage and grow your business.
4. Team Members
No entrepreneur ever succeeded working alone.
While you may have the vision for success, it’s your team that gets you there. You must employ help if you want to scale faster. Choose the right people you want to work with.
As the boss, you wear a lot of hats. You become so preoccupied with a lot of stuff when you should be focusing on scaling your business. It’s hard to let go of the wheel and entrust important tasks to others. But you must delegate.
Outsourcing your manpower might just be the smartest business move you’ll ever make. You can hire Virtual Assistants (VAs) who can work with you from across the borders. In hiring VAs, you need to ensure their competency and credibility.
But in the fast-growing space of eCommerce, you won’t always have the resources to do a rigorous hiring process.
What if there’s a company that provides you with highly skilled and well-trained VAs? Luckily, there is Virtual Assistant Academy (VAA). On top of that, it is the only company specializing in Virtual Assistant services for Amazon sellers.
VAA offers you a wide range of VA services, depending on the skill set you’re looking for. Among these are the following:
- Amazon Expert
- PPC Specialist
- Social Media Expert
- Creatives Experts
- Executive Assistant
- Wholesale Expert
So, if you’re looking for a new partner to help you grow your business, look no further than VAA. Contact them today to start your journey towards scaling your business!