Sometimes the best way to grow your own business, is to help other people grow theirs.
Let me explain what I mean by that...
Sometimes life has a really cool way of reminding you of the opportunities that sit right under your nose. Recently I had a timely reminder that sometimes the best way to grow your own business is to help other people grow theirs.
Last month Gareth and I flew down to Christchurch to hold a workshop with one of Christchurch's fastest growing accounting firms. We spent a whole day helping them map out the logical sales and marketing activities they will undertake in 2022 to continue to grow their business sensibly.
Working with these guys was fun. I even had a blinding flash of the obvious of my own. I realised that Accountants want the same thing as we do; to help our clients succeed in business and make super profits!
They do it through giving sound money management advice. We do it by teaching businesses the simple ways to make their sales and marketing efforts really hum.
What if we helped each other provide more value to our respective client bases? They know hundreds of businesses who could do with good marketing advice and we work with plenty who could benefit from a really switched-on accounting firm.
It could just be as simple as us contributing regular marketing advice to their monthly newsletter (and vice versa). We can both offer an added layer of help to our customers while the other gets to grow their exposure to potential new clients.
That scenario right there is called a host-beneficiary relationship. Both parties can benefit from introducing their client base to the other's. By working together we can both grow!
Are there host beneficiary (host-ben) opportunities sitting on your doorstep?
I bet there are! Swimming pool businesses and landscaping companies have plenty of room for cross referrals. Same goes for mortgage brokers and real estate agents. Accountants and lawyers often work with the same people...the list goes on.
Action point: In the next two weeks, get your team together and create a list of businesses you could work with to create a host-beneficiary relationship.
P.S: If you would like to talk more about how to set up a host-ben system in your business, reach out to us - we love that stuff!