What is a Power Partner and Why Do I Need One?
When it comes to networking, we often think that it’s best to get to know anyone and everyone out there regardless of their business or industry.
While you can make a lot of valuable connections that way, there are some strategies that might get you better results if you become a little more targeted and purposeful with your network.
You can find a lot of referrals and additional business through a power partner.
A power partner is an entrepreneur or business owner who has a business that complements yours. Your services might pick up where their services end or vice versa. You might have different roles but in the same industry.
For example, a real estate agent and a lender would have a great power partnership and could refer clients back and forth. Additionally in the real estate industry, a notary, property manager, or a home inspector might all be complementary as well since they are all part of the process at one point or another. For the marketing industry, you might have a great power partnership between a copywriter and a PR consultant as well as a visual designer or marketing strategist. All of these services fit within the same realm and could easily refer each other business.
When you build connections with the right power partners, you can end up with a “power team” that allows you to easily refer business and send clients to the right service when they need it. As a result, you provide more value to your own clients and create mutually beneficial connections with other business owners.
To ensure a successful power partnership:
- Take a little extra time to really get to know people in your industry
- Reach out and develop a way to find out if someone is the right partner for you
- Come up with a few key questions to ask to get to know them, their values, their business and processes.
The more you can connect and align on how to work together, the easier it will be. Once you build rapport, you’ll find yourself able to brag about your partner and give a glowing recommendation as they will be able to do the same for you.
Power partners make each other better and grow together without being in competition. This is often the lifeblood of the small business community and it can mean your business might get the big break it needs to really take off.