Events Articles

Top 3 Best Practices on How to Grow Your Practice by Leveraging Key Strategic Partnerships

by Auvenir

Partnerships are always in style. Professional service firms should aim to build relationships and partnerships with other firms to increase their ability to access new markets and channels.

 

But how and where do you begin to develop and maintain these partnerships? Navigating how to create and leverage key strategic partnerships can seem like a daunting process, but once you know how to develop your relationships with partners, this can save you time, energy, and money.

 

Embracing the challenge of developing a key strategic partner plan, and looking to optimize relationships for professional firms, Auvenir hosted a one-hour webinar session, ‘How to Grow Your Practice by Leveraging Key Strategic Partnerships’ on July 21, 2021.

 

Presented by Jeff Borschowa, Business Coach and former CPA, the session discussed some of the key questions and considerations on how to build mutually beneficial partnerships with strategic sales.

 

Breaking it down into the basics, here are the top three best practices every professional firm should keep top of mind when it comes to leveraging key strategic partnerships.

 

  1. Build mutually beneficial partnerships with strategic sales

 

In his previous blog post, Jeff Borschowa shared the critical components of strategic sales, and how too many people focus on transactional networking to scope out their next client. However, key strategic partnerships and sales should go beyond just exchanging information between firms.

 

As Jeff highlighted in the webinar, key strategic partnerships should provide value to your clients as well. Helping a client solve a problem can result in turning existing clients into great referral partners. This referral process helps build trust with your clients and can often lead to more referrals in the future.

 

If you’re just beginning your key strategic partnership plan, a first step would be to consider who you already know in your professional network and trust in each category that you would like to be a key strategic partner for mutual introductions.

 

  1. Determine your ideal client avatar

 

Figuring out who exactly your professional service is trying to market to is hard if you are trying to market yourself to all people. Jeff reminded attendees that it is important to focus on building your practice around your ideal clients during the webinar. Your practice must know who you serve and be as precise about your ideal client avatar qualities as possible.

 

It is important to consider what problem(s) are you solving for your clients and then focus on what differentiates your services from competitors.

 

  1. Create and curate content to connect with your target audience

 

Creating and curating content will draw positive visibility to your practice. In his session, Jeff shared some different ways practices can create and curate content, and why content is so important, and how it can add value to your network. 

 

Perhaps another individual has faced a similar problem to the one you have found a solution to – by sharing this information and experience with different content platforms, such as white papers, case studies, or even sharing favourite resources, you can build trust with your ideal client avatar.

 

There’s still more to learn and discover about leveraging key strategic partnerships!

 

Didn’t get a chance to attend the webinar? Learn more about these three best practices and more about how to build and develop leverage strategic partnerships by watching the full recording here: