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Create Valuable Business Alliances in Your Physical Therapy Practice – Segment 2
Criteria for Choosing the Right Partners.
When you are thinking about who you might partner with to enhance your practice and the services you offer it is very important to choose the right people or partners. Read the list below for some of the things to consider when identifying the right partners for your practice.
There are several important criteria to consider in choosing the right partner.
1. Approach prospective partners who target the same people that belong to your target market.
2. Each partner must feel as though she or he is getting the better part of the deal. I like to see that a partnership will help build my business as well as help my new partner.
3. One partner at least must have marketing ability or a way to reach the mutual target audience.
4. At least one party must have the expertise for the partnering “project”. This is essential.
5. Your idea for a partnership must be highly targeted, that is, must be very specific to a particular group of people.
6. Stay within the criteria you established for a partnership or what you need from the partnership. Don’t endorse a service or product if it doesn’t fit your needs even if it is an excellent service or product.
7. Make sure you create high quality promotional materials for this new service or product you are jointly offering. An excellent product is not good enough without high quality promotional information.
8. When considering a prospective partner a good criterion is to help them fill a gap in their services and products, too. Ask: what are they missing? Offer them something they do not have. Read the rest of this entry »
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Create Valuable Business Alliances in Your Physical Therapy Practice – Segment 3
The Formula for Approaching a Potential Partner.
When you have developed a list of prospective partners, think in terms of the following process or steps:
* Establish your credibility
* Tell them what is in it for them
* Explain your idea briefly
* Tell them how to get started
Let’s apply this formula to an example. You may not be well known to your prospective partner. How do you build credibility? It is simple. Give them your name, mention you are the CEO of the clinic, and then give your clinic’s name.
Next when you want to let them know what is in it for them, tell them precisely how they may benefit from the relationship and say this right away. Typically you will be telling them something that will help them get more clients and/or grow their business.
Then explain your idea for the partnership briefly and specifically.Tell them you are planning (insert your idea), you will need them for X number of minutes via telephone. If they are interested, you will send them more specific information on a time and date to meet.
It is important that you know a little about this potential partners, what services they deliver, what is missing, what you are doing that is complimentary to them, what they could be looking for in a partnership.
Some of the things you and your prospective partners may be looking for in a partnership are: increased exposure; recognition; new clients; a way to reach your new target audience; a way to expand the services you offer to your clients; attract new prospects; streamline your operations; strengthen your brand. Read the rest of this entry »
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Strong Strategic Alliances – 3 Tips to Get Started
Strategic business alliances can help you build your business more quickly, generating business momentum and creating more rapid business results
As it sounds, a strategic alliance (or joint venture) is a business agreement made between business owners with the focus on generating mutually helpful business outcomes. An example of this kind of partnership would be when two business owners partner up to create an event, and each brings their own skills to the project, resulting in an event that was better, bigger, and more profitable than either could have created alone.
Strategic alliances can sometimes occur as cross-promotional arrangements, such as when you visit your local bakery, and they are promoting the florist shop next door.
Most entrepreneurs would greatly benefit if they had a regular habit of creating and maintaining multiple strategic alliances. Here are three strategies to help you create better strategic business alliances:
1) Commit to doing this. Make a plan to reach out to one new potential business alliance each day. If you can’t meet one new person each day, commit to meeting one per week, or even one per month. The key is that you are actively meeting other business owners in your area, and are learning about their businesses, and telling them about yours. You can make this process easier by creating a list of 100 people you’d like to connect with in the next few months, and systematically going down your list day by day or week by week. Try to make connections with people who would be in a position to refer ideal clients to you, and who are in non-competitive businesses to yours. Read the rest of this entry »