How partnerships can improve your small business

To establish their brands, entrepreneurs face many challenges. Instead of going by the book, consider these approaches to teaming up with other players in your niche.

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To expand your network and increase sales, it’s important to work with established partners.

Some potential partners will offer a similar personality and approach; others will be vastly different in their education or experience.

Here are a few things to consider when selecting a partner:

Seek those who are like-minded, but be judicious.

People with common goals often want to work together. Because they think in similar capacities, they don’t have much conflict and business operations tend to be smooth.

Be wary of partnering with “yes people,” though. You might miss out on different insights that could be key in getting your brand off the ground.

Consider the “opposites attract” approach.

To round out your strengths, it’s important to team up with those who offer something different.

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