5 reasons to cultivate strategic business partnerships

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Is it time for your business to cultivate strategic business partnerships?

You want to be successful, and you’ve found your market niche. Congratulations, you’re on your way to being the best your company can be.

Now that you’re growing, however, you have to find ways to remain relevant to your customers – while still taking care of business as usual. It’s possible that your company is at a crossroads where you need some outside expertise, tools or resources to avoid becoming stagnant or obsolete.

Or maybe you’d like to expand your influence with a broader audience. You may want to position your company as a thought leader in your network.

If any of this sounds familiar – then, yes, it’s time to look at creating a strategic business partnership that can deliver consistent, predictable and incremental growth for both organizations.

What are strategic business partnerships?

A strategic business partnership is a long-term business relationship focused on creating joint value for two or more organizations. The more value created by the partnership, the more strategic it is.

A strategic business partnership is not a business relationship that looks to exchange or extract value for your business from the other organization.

A small business, for example, might partner with an

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