Entrepreneurs often have a “go it alone” mentality driving their companies, but in this ailing economy an increasing number of small business owners are finding that creative partnerships are the path to success.
Helen Halloran has owned a florist shop for 25 years in Concord, Mass., and says that today “it’s definitely harder to grow. You’re working harder for every dollar because customers are more reluctant to spend.”
But even in the face of adversity, her MainStreet-style business is growing and so are many others. So what’s their secret? Creative partnerships.
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Here are some partnering tips from small business owners who run small shops that act big thanks to strategic alliances.
1. Join the Shop Local Movement
Halloran strongly believes in the “10% Shift” movement put together by a group of entrepreneurs who say that if five million households in New England shifted 10% of their existing purchases from non-local businesses to locally owned and independent businesses, thousands of new jobs would be created. She is active in her local independent business alliance and advises other towns to create a similar groups.
2. Buy from Fellow Small Firms
Halloran purchased most of her printing needs through a national florist industry printer for many years, but this year made a switch. “I was about to reorder by business cards and floral enclosure cards from the Web when I suddenly stopped what I was doing and walked across the street and placed the order with my local printing shop for about the same amount of money. I’m helping the local economy now. We can give each other a boost.”
3. Cross Promote
She gives a museum in nearby Lincoln, Mass., a free floral centerpiece each week for its café. She also leaves discount cards and location information near the centerpiece, which have generated a lot of business. For Valentine’s Day, she partners with a hair salon that includes a crystal vase in a gift package encouraging the buyer to bring it to her shop to be filled with flowers. She also has partnered with hotels that bring her wedding referrals.
