When you connect with another business that has the same type of customers, with different needs and you offer bundled services with this business, you create what I call a Entrepreneural Bundle of Joy!

Everyone is happy. The customer is happy because they found everything they wanted in one place, AND paid a better price then they would have had they purchased the items separately from different vendors.

The business owners are happy because they are gaining access to a whole new market, creating new sales opportunities, boosting their revenue.

Say for instance……

~A real estate business partners with a moving company. The bundle of joy can be a 'seamless moving package' that’s offered when clients purchase a home through the agency, receiving a discounted moving package as part of the deal.

~A financial advisor can connect with someone who has a tax preparation service. A client who is in need of financial services will also need to file at some point. Offering a bundled service with financial planning and tax filing would be a very convenient option.

~The last, and very common example would be of the partnership that exists between Airlines and Hotel chains, where they offer reciprocal ‘Loyalty’ programs. Customers can earn airline miles when they stay at a participating hotel, and vice versa. They also offer vacation packages that bundle flights, and hotels.

Strategic partnerships have existed for several years and have created many lucrative opportunities.

Something to consider….

You have the ability to tap into your partner’s existing customer base.

Offering bundled packages creates new sales opportunities.

You are providing customers with a more comprehensive, and convenient solution, which improves satisfaction.

Marketing efforts and costs can be shared with your partner, leaving money in your pocket, theirs too.

Aligning your brand with a reputable partner enhances your credibility. 

Taking the first steps….

~Have a goal in mind. Are you wanting to reach a new audience? Offer more to existing customers, or reduce marketing cost?

~Look at what you are currently offering. What would complement it? What are you not offering that your customers may need?

~Think about what type of business that would align with your brand. What services would create a valuable bundle?

Then….

Consider who is already in your network. Who do you already know or have a relationship with, in the business community?

Attend local networking events.

Use social media and online platforms like LinkedIn to connect with other businesses.

Building strong relationships with other business owners can be the start of something huge. As a consumer myself, those packaged deals come in handy. Maybe, at some point, you will create your own bundle of joy. ✨✨

Quote of the day

Thank you.

I look forward to you having a great week. I truly hope you have the support you need to do great things.

I am grateful for the opportunity to be a part of your day, and with that, take great care of yourself, until next time, 😊

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