Some companies can go it alone, but others need partnerships to succeed. And even for those that don’t need help, partnerships can lead to new business opportunities.
In product fulfillment, finding a successful partnership is simply a matter of knowing what sort of company to partner with and how to ensure that partnership has the greatest chances of success. Here’s how to make the wisest decisions about future partnerships.
Coming to Terms
Before even deciding to embark on any professional partnership, a self-assessment is necessary. Determine what your business does well, what it can do without assistance, and what areas are lacking. For example, you may have quality products but lack a skilled direct marketing firm to help promote them.
You also have to consider the reverse; what can you offer a partner? If you operate an online business, you might have e-commerce fulfillment services that another firm could benefit from. Or if your products are considered exotic for your location, you could serve as a means of outsource fulfillment for another business.
From here, work toward making the contacts needed to form a partnership. Engage in networking, go out of your way to meet others, and/or attend a convention to meet the right people.
Once in talks, outline what you wish to achieve with your partnership, such as accessing a particular area or demographic. You also have to consider what sort of partnership you want to enter into. Some businesses do so on a trial basis first just in case, looking at the results before committing to anything long-term—a practice you way wish to consider using.
When committing to any partnership, be sure to get it in writing. A legally binding contract will help set the appropriate terms of each partnership; just make sure it’s fair for both parties. If using a trial period, make the contract for the short term.
Then, once the partnership proves successful, it’s time to renegotiate in order to take it to the next level. If, for example, your Miami-based company is experiencing growth, it’s time to sit down and determine how your allied business can help you become the best direct marketing company in Florida—a goal that, with the right partnership, is both realistic and easily attainable.
Need solutions to your product fulfillment problems? APS Fulfillment, Inc. has the knowledge and services to make your direct mail and product fulfillment ventures more successful. Contact APS Fulfillment, Inc. by e-mail at [email protected], visit their web site at www.apsfulfillment.com, or phone at (954) 582-7450.