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Win Win With Strategic Alliances

Ask @ David Ananth is a special column made available to iTimes.my readers where questions and opinion sharing will be answered by one of the prominent Business Growth Consultant, Mr David Ananth. He will answer questions asked by the readers through ask@DavidAnanth.com. Readers can also share articles and contents in this column based on various topics. The best piece will be published.

Questions:

Hello Sir,

I am Naveen here. My wife and I just started up an event company. We have an office in Seri Kembangan. It has been 10 months we are in this industry and so far we have organized 6 events successfully. I am very sure this is not a great achievement. As an event organizer we should be having at least 1 event weekly. We have printed out name cards and brochures to pass around. We also depend on word of mouth. Can you please guide us on how we can expand our business further? We have very high hopes to catch the market and succeed very high.

Naveen, Seri Kembangan.

Answer:
Mr. Naveen, great to know that you ventured into a business. Congrats to you and your wife. First you have to form a strategic alliances with you. When you engage in a strategic alliances, you’re essence developing a formal relationship with another business owner that says you will refer his business whenever possible and he will do the same.

For an example, since you are doing events, you must have good relationship with few photographers, videographers, sound systems, DJ’s, caterers and other event related business. It will be better if you can establish good relationship with halls and hotels. Before getting referrals from them, you get them the referrals and provide them business through your company. This will 100% make them reciprocate as a permanent business gaining strategy for your success. This works for a long term because it is a win win situation.

The key is find the right complementary business and make it work for both of you. Good Luck!

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