 Welcome to The Journey. Today we're going to talk about tips for partnering with other local businesses. In the wild world of entrepreneurship, it's pretty easy to get caught up in the chase of customers and dollars. Everyone is ready and willing to tell you what ads you should be running or social posts that you should be managing. But not everyone has an endless budget and time for that matter for investments. So what's a business owner to do? You want your community to know your business exists, of course, but you're already putting in 10 hours a day left and right and you're only one person. So fortunately, you can get shoppers in the door by partnering with, yes, you guessed it, other local businesses. And as we love to do, let's talk about why this is so important. About 67 cents of every dollar spent at a small business stays and circulates in the local community. When these funds are kept local, the effects can be huge. Consumers want to buy from locally owned businesses instead of national retailers because they want those dollars to keep their communities alive and thrive. There is growing awareness of the fact that every time someone purchases their coffee from small business instead of a large chain, they aren't just adding to a bottom line. They're keeping a neighbor's mortgage paid. Okay, so the why makes sense, right? But what are the best strategies to use on partnering with other local businesses? First off, research partnerships ahead of time. Think about your products and services. What do you offer? What's missing? What will benefit your customers? And then make a list. Make a list of the types of local businesses that you'd like to work with and then write down why you're interested in partnering with them, right? They're going to want to know that. And then start thinking about businesses that you already have a relationship with big or small. And who can you call to discuss partnerships? How will you pitch owners to get you on board? All of these are vital questions. And that way, when you do this work, you come to the table prepared. Exactly. And you also want to make sure you choose businesses that complement your own. So let's say you're a wedding or event planner, it's definitely going to make sense that your best potential partners are other vendors in the wedding and event business. Give me local retailer selling your handmade crafts or snacks. Or me as a web designer, I'm partnering with graphic designers, content writers and SEO specialists to partner with. So if I'm doing some services that they don't offer, they'll pass you the business. And if I need help with something that I don't offer, I basically pass them the business. And you can offer incentives. I love good incentives. Reward your customers for branching out and working with new local businesses. Also, look, rewards don't have to be money, right? You could use samples, consultations or small gifts or swag to show your appreciation. Consider partnering with the local charity too. I mean, what's better than purchasing something you want and donating to a good cause all during the same transaction? And hey, why stop at one? Partner with more than one business. There are no rules that state that you can only partner with one local business. Some customers actually prefer the ease of one stop shopping. So minimize the stress by providing packages and options from a range of companies to suit your customers needs. So for example, a moving company could partner with an interior designer or an organizing specialist to help new homeowners get set up in their new space. I would have loved that when I moved from LA to San Diego. But basically there are so many businesses that likely compliment yours perfectly. So go out and find them. And hey, maybe look into some seasonal partnerships. Maybe a monthly or year long partnership isn't right for your business right now. But seasonal partnerships are a great way to test the waters and see how all your products mesh with other local businesses. Take note of trends, create bundles or gift baskets and work with a local business to promote attractive holiday solutions. In our fast paced society, there are plenty of shoppers looking for quick gifts that still have meaning. But don't stop at the winter holidays of Christmas, Hanukkah and others either. I mean, I'm sure mom would love a basket filled with local goodies for Mother's Day and dad would prefer something other than the boring tie for Father's Day. And be sure to get it in writing. Any business partnership regardless of what is being promised should be in writing. This protects all parties involved and then agree in advance like how will you promote each other the beginning and the end date of the partnership and what both parties will contribute. Strategic partnerships can be beneficial for any company, whether they are a startup or a seasoned local business. These tips are far from an exhaustive list, but we hope they give you some ideas for partnerships that you can forge with local businesses. And by coming together with your fellow business owners, you can develop new friendships, promote new opportunities and gain new customers. All right, that's a wrap and good news. Your journey doesn't end here. There's more education to be found and heard. We have 200 plus videos for you to check out. Until next time, this is a journey.