As a small business owner, I have come to realize that I cannot do everything with respect to my business. For example, I know how to use social media, but I just don’t have the time or the expertise to use it as a marketing tool. I decided to hire a business to handle this for me. However, I do most of the content creation with respect to these blogs because I really enjoy the opportunity to express myself in this type of forum.
I have also established an arrangement with a US CPA to help me with cross-border tax issues. I thought this was key since I live in a border community and there are potential clients that want a “one-stop shop” and I did not want to say my business does not deal with US taxes. Another example of partnering occurs in the construction and landscaping industries. These businesses subcontract tasks that are more efficient for someone else to perform quite frequently as it saves on their time to complete projects.
Strategic partnerships can help serve your clients better as you can focus on what you know. If you don’t know something you can hire someone that has that expertise. In some cases, this can lead to additional work coming your way if your partner needs help for one of their clients.
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