“How do I grow my business?”
It can be a difficult question to answer. If you don’t know what kind of growth you’re aiming for, it seems like a vague concept. Do you want to increase your profits? Open a new office or store? Hire more employees?
In the current economic climate, businesses must look at new ways to win customers. As such, many firms are now looking at strategic alliances which allow them to access new segments of the market.
If properly executed, a strategic alliance can be good for business and good for the consumer. A strategic alliance is similar to a joint venture, in that everyone remains an individual entity but comes together for a single purpose or period of time to create something that could not otherwise be created.