Brenda Thomson, CEO and founder of Networking World interviews Melissa Khalinsky founder of Business Mums Network on the role strategic alliances and joint ventures have played in her business success.
Brenda: Melissa, how big a part do you think strategic alliances has played in the growth of your business?
Melissa: A huge part. I have pretty much no money behind me so I had to start from square in growing the network. Strategic alliances are probably the easiest, cheapest, quickest way to do things. To get promotions, publicity and that sort of thing.
Brenda: Has it all been about database growth, promotion and publicity or have you used strategic alliances for other purposes?
Melissa: A lot of them have been about growing the database but we have done other things as well. It’s not all about getting new clients. We have used strategic alliances to support our members, provide events, run competitions and promotions, provide education and learning. But a lot of them has been for promotions. They’re the easiest ideas to come up with.
Brenda: Could tell us about one or two strategic alliances that you have done that you are particularly proud of and that has been really amazingly successful?
Melissa: One is the Expo, the one we just did. We had a large stand. I opened it up to let members get involved which helped pay for the stand itself. Also we had ran a colouring competition and had activities for the kids. One of the members came in and she does temporary tattoos, we had play-dough and things so we would really attract any kids that would come to the expo. That way while the kids were happy and having fun, we can talk to their parents. And it also meant that we could have amazing prizes to give away to help grow our database. We really had a colourful interesting stand so we could put up information for the members. It’s a good way to promote not just the members but the network because people could see that we are working for our members.
Another thing that’s going really well is competitions. We run a number of different competitions. All shapes and forms. We join up with our members and they offer prizes. A lot of it is for promotion and database growth for the network But also it is a service to help members grow their databases. A lot of the members who get involved want grow their database and get exposure. Because I have a large database, I look like a hero offering great prizes. And they look like heroes because they are giving away great prizes but at the same time they get to grow their database. Our customers love it because they get a chance to win great prizes and my kids love it because they get to draw the prizes every month.
Brenda: That’s great a real WIN WIN WIN! So Melissa have there been any challenges along the way. Perhaps an alliance strategy that didn’t work as well as you hoped?
Melissa: One that did not work as well as expected. About 6 years ago, I joined up with another business to exhibit at the Pregnancy, Children & Babies expo. We hadn’t really thought it through. We did not have a plan. We just thought we’d share a stand. It did not turn out as well as expected but mainly because we did not have a plan.
Brenda: Would you be happy to do it again now, with the knowledge that you have?
Melissa: Definitely! Planning is everything. Wth the business expo I sat down and planned ahead and thought of what my objectives were and what I wanted out of it. Whereas in that one, we had a bright idea of sharing a stand and that’s about it. We really did not think it through.
Brenda: So having a plan and knowing what you want is important?
Melissa: Super important! And we also learnt some little things. Things you need to know for a successful expo stand. Like having prizes, and forms for people to fill in to join your database.
Brenda: What are you top three tips for business owners considering using strategic alliances as a business growth strategy?
Melissa: First you have to have a plan, work out what you want out of it. Lots of people start strategic alliances with some sort of vague idea of let’s do something together but it’s very vague, there is no real plan, no strategy. Nothing really happens. The best ones are very structured, say for example the competitions, we run the competition, this is how we want it, this is what we do. So people when we get involved with them, we know what the plan is, We know what the desired outcome is.
The second one is find someone you can work with; I’ve known of people who got into strategic alliances where there’s been some sort of personality clash. Find someone that you are really good fit with because otherwise it won’t work. Or it may work but not as well as you want it to.
Lastly, think outside the square. Try to be creative because then you get better results. You are also more likely to get publicity out of it. You get people to talk about it by doing something different and not the same sort of thing that everybody else is doing.
Brenda: Really great tips Melissa. It’s obvious why you are an award winning business. Is there anything else you’d like to add?
Melissa: Just “Use Strategic Alliances, because they are absolutely the best, cheapest and easiest way to get out there and grow the business. “
