My strategic reason for partnering across industries is to try to help my business weather ups and downs in the marketplace. The Triangle-area is very fortunate to have a solid, diverse base of employers, and remains one of the most dynamic economic regions in the nation. I believe that helping my clients get to know one another is a great way to add value to the relationship, and ensure long-term partnerships.
I’ve made a strategic decision in my business model; work with only one client per industry. Initially, this may seem limiting, as I do not specialize in one field or career path. However, I believe it opens other opportunities, including introductions for business to business relationships. I can become the catalyst to introduce novel ideas and unique connections, through this common connection.
This isn’t always possible with every client, but I’ve recently been successful introducing two of my clients, Linda Craft & Team Realtors(R) and Nowell’s Contemporary Furniture in a creative concept. (Visit them to discover what the creative partnership is!)
While I’ve been prospecting across many industries, I’m currently partnering with four strategic areas in the Raleigh-Durham-Chapel Hill area. Service (Real Estate), Retail (Furniture), Health and Medical (Physican Assisted Weight Loss of Durham) and Legal (The Law Office of Thomas, Ferguson and Mullins, LLC). They’re all not going to be a good fit for one another as potential business partners, but I believe that as I’m providing similar services across various industries, there is a synergy that I can create, offering each client a different perspective in the marketplace, while respecting privacy and proprietary practices.
I suppose that specializing in one career path would give me a different set of connections. However, as a sole proprietor working within one marketplace, I would constantly worry about the firewall between clients. Working on marketing, advertising and social media consulting as I do, there would be the potential of ‘leakage’ of some concept or practice from one client to another, creating a conflict of interest.