I was in Nashville, Tennesse the other day for a small business conference called BizX America. We had some amazing speakers there so if you haven’t heard of it, I would definitely check it out at bizxamerica.com. Anyway, we stopped in for breakfast at a restaurant called Marsh House and I noticed something that was beneficial for small business. You can actually see a short video of the experience here.
The thing I noticed that's beneficial for small business is how the Marsh House utilizes strategic partners to generate more business for their restaurant. As we finished our meal that morning, the manager came up to us and asked us a bunch of questions such as why we were in town, what we were looking to do while we were in Nashville, etc. We told her we were open to different things so she showed us a comprehensive list of different outdoors spots, places to go shopping, and different bars, which was really helpful. After she showed us the list, I starting wondering why. Why would the Marsh House have their managers come by and ask us these different questions? The Marsh House knows that in order to make more profit in their business they have to have strategic partners. Low and behold their manager is referring us to a bunch of different restaurants/bars/locations around the same area. She actually sent us the whole list via text-message full of different places that we could go. What is this doing for their business? They're successfully referring us to different businesses that are complementary to what they do there at Marsh House and what do you think those other businesses are doing for them? They're also referring their customers and patrons here to Marsh House. When every one of their partners does this successfully, they start utilizing the benefit of their strategic partners and get many more leads generated for their businesses. Does this translate into more profit for their business? You bet ya!
So, my question for you is what are you doing in your business to utilize strategic partners? How are you using them to get more referred business your way so you can increase your lead generation and therefore make more profit?
If you can't figure it out contact us and we will definitely help you out.
We offer complimentary 2-hour strategy session (a $2000 value) for businesses that want to look at opportunities in their business. We can chat briefly about the details of that session to see if it would be beneficial for your business.
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