When running a business, you must be very familiar with partnerships in business. In general, before running a partnership, business actors will first prepare a formal agreement document that contains the objectives of the cooperation and the benefits that will be obtained by the parties involved. Basically, a partnership may contain a contract, but it may not. However, what is certain is that both parties already have a clear understanding of the goals of the cooperation and plans to achieve the expected results. So, should you look for partnership opportunities? Let’s find out the answer through the following 4 reasons!

 

1. Attract new potential customers and expand to a wider market

One of the main reasons why businesses plan to enter into partnerships is the opportunity to attract the attention of potential customers. As you see, through a business plan between you and other fellow entrepreneurs, you and your partner can provide a wider range of services without the need to invest in additional operational needs or expand your distribution network. For example, if you have a beauty product business, then you can form a partnership with a partner who has a business in the field of supplying beauty products. That way, both you and your partners can further expand your network without the need to open a new store branch.

 

2. Build Brand Awareness

A business can grow massively if the owner forms a partnership with business owners who support their brand awareness. For example, if you provide laundry services, you can work with owners of boarding houses or lodging places. This will not only make it easier for you to get customers while helping your partners to provide services, but will also indirectly make potential customers more familiar with your business. Meanwhile for customers, the partnership that you and your business partners do will also be an added value for them. Because apart from being able to get accommodation, they don’t have to spend time looking for a laundry place.

 

3. Delivering products and services

If you already have loyal customers so you plan to expand in terms of products and services, then you can start looking for opportunities to partner with businesses that provide related products and services. For example, because you want to implement strict health protocols and ensure the safety of staff and customers, you need a cashless payment service facility. Well, you can get it by registering as a Cashlez partner. As a payment gateway, Cashlez provides various non-cash payment options which are certainly effective in reducing direct contact during transactions. So, customers can choose the payment features they want, starting from QRIS, Virtual Account, Kredivo, Vospay, credit/debit cards, and online payments.

 

4. Increase customer trust

If the business you are running is relatively new, you are certainly not widely recognized by customers. This can make customers doubt whether they will buy the products you offer or not. However, you should not be pessimistic. You can overcome this through a partnership strategy with business actors who already have high credibility. Through this partnership, you can convince potential customers that the products and services you offer meet their expectations. For example, if you provide various snacks, for example, you can work with beverage business people who already have many customers. Then, the cooperation can be done by presenting a bundling package.

 

When you want to expand, your focus should not only be on how to get a lot of sales. You see, there are other golden opportunities that you can also do to build a business, such as establishing partnerships.

 

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