This is an extremely powerful approach to scaling your business quickly with less risk and access to high-level expertise and experience. Rather than building the capacity internally, you are able to access an organisation that has a track record and knows how to achieve the outcomes that you need for scaling.
I have used this approach many times in business in the following areas:
- Digital Marketing
- Social Media
- Lead Generation
- Sales
- Training
- Software and Systems Development
The principle behind this is that you focus on what you and your business are good at and through partnerships work with businesses who can deliver what they are good at. This is a win-win arrangement.
As an example – an excellent area for this is in the area of Lead Generation through Facebook. You would no doubt have had varying degrees of success in this within your business. I have used multiple agencies, built capacity internally, and had, mostly not great results. This is an example of an area that has become very specialised and is constantly changing and evolving. It requires staying up to date on the changes that Facebook rolls out while reacting to the never-ending movements of the marketplace. So what do you do? You build a strategic partnership with someone or some organisation who will keep up to date, keep optimising and share in the successes of your product or service.