So If You’re Not Investing Your Time Systematically Building Partnerships!
(What The Heck Are You Doing Instead?)
Of course, you’re serious about (both) growing your business and being successful, right? No worries entrepreneur, me too.
But here’s the thing. “How” on earth do you expect to consistently do so. If you’re not systematically building partnerships?
Now don’t get super bent out of shape here. But just like every sport has its own unique set of must know and learn
basic fundamentals. So, it goes with strategically growing your business or service.
Thank goodness being successful in business not about “how” physically attractive you are or aren’t, right?
Nor is it about which Ivy league school you attended. Or what your grade point average was. While it
certainly doesn’t hurt your/our chances for long term success. If any of the aforementioned personally
apply to you. But thank goodness those particular requirements don’t apply. You can live with that, correct?
Strategically Building Potentially Valuable Partnerships Is The Gate Way To Your Entrepreneurial Pot Of Gold!
So here’s “what” inspired this particular angle on strategically building partnerships. (Of all shapes and sizes BTW.) Recently while strolling through Walmart of all places. I noticed the tax preparation service Jackson Hewitt had some small booths. Where they provide their various financial services to the local Walmart customers. Without knowing any of the behind the scenes details.
Strictly for hypothetical marketing illustration purposes only. It’s probably reasonable to presume, (not assume!) Jackson Hewitt is paying Walmart and or the retailer of choice, a sizeable fee of some kind, to place their booths inside their extremely high visited store(s), correct?
But what might not be so readily obvious is this. “What” if JH agrees to give all of Walmart’s current and future employees/associates. (Initially for the particular store they have booths in. First time customer discounts of 25 or X% off their very first filing.)
And any Walmart customers who are already JH customers. They still receive 10 or X% off. And upper management associates, who clearly not only earn more income. But ma also need expert tax or other financial advice with their investments, estate or inheritances they recently or are about to receive.
And by the same token. All current and future JH associate, full or part time. They instantly receive lifetime discounts of 10 or X% off any purchases they make. (Without absolutely no minimum purchases necessary. And on top of any discounts Walmart already provides on the purchases.
And now the really fun stuff begins. First of all. These Walmart Super stores on average. They employ both full and part time anywhere from 350-500 total employees per store. Let’s say 20% of them typically take advantage of JH’s strategic marketing generosity. So out of 350 associates about 70 of them give or take.
They pay JH or H& R block’s fee to have their tax returns prepared. But that’s only the initial front end of JH’s extremely well-polished marketing funnel, correct? Those 70 or X number of paying customers, may also need life or affordable car insurance.
They may also want to receive discount on airline, hotel or car rental rates, correct? And let’s not forget car repairs. JH may also have established relationships with some of the area’s most reputable, independently owned local auto mechanic shops.
Plus a certain percentage of Walmart’s employees will periodically refer others to some of JH’s higher end services.
And of course, some of Walmart’s upper management employees/associates. Both current and future. You know at least some of them will
own investment real estate. They may want investment/portfolio advice. They may need expert help estate planning. Saving/investing for their kids college
expenses etc. (And possibly law, medical, dental or nursing school expenses etc.)
From Very Humble Beginnings! Big Things Can Often Come About!
Ladies & gentlemen look at “what’s” potentially possible from extremely humble beginnings. Think about the money JH or H&R Block saves simply from
paying a rather modest fee to a major retailer. Instead of leasing a commercial space of their own for 3-4 months. They don’t have to pay for electricity phones or nor worry about the cost of traditional advertising. no local billboard costs.
No outrageously expensive, local prime time radio or TV spots. In short they’re strategically leveraging Walmart or major retailer X’s established brand and local
influence. And just think if even only 1-2% of Walmart’s local traffic owns their own business or service. And they have X number of local employees. Or their vendors
have employees.
And JH or H&R Block induces just 20 or X% of them to become first time customers. And they generate X percent of referrals, or they become long term repeat
customers.
For a fraction of the traditional cost. And they pocket part of the long term back-end revenue stream. Going forward. Ladies & gentlemen. Please tell you can now much better appreciate how and “why” strategically building partnerships of practically any shape and size, definitely makes sense. Don’t you agree?
Entrepreneur You Don’t Have To Initially go Big! But You’ll Never Go Big Until You Get Started!
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