Build alliances to expand your practice

It’s fine to keep a competitive spirit, but helping other businesses can help you, too.
“Nobody likes a chest-thumper,” says Marie Swift, president and chief executive officer of advisor marketing firm Impact Communications. “But everybody likes a business professional who lifts up other people and is a booster for their cause.”
Smaller businesses often struggle with sales and local visibility, and support from a larger firm can give them the boost they need, Swift says. “Promoting other professionals and small to midsize businesses in your community positions you as a generous, ‘others first’ leader, generating goodwill, affinity and share of mind,” says Swift. “The good karma will almost certainly come back to you.”
Being visible and focusing on others can help create a caring face for your business and provide opportunities for conversations with new clients, Swift says. “Co-hosting events and positioning yourself as a local business booster gives you reasons to send out invitations and news releases, generate email and social media campaigns, and contact new strategic partners.”
Beyond extending your firm’s network in hopes of attracting new prospects, sometimes it’s just good to help other firms who need a boost.
“We are known by the company we keep, so picking good circles and purpose-driven activities can not only help build business but enhance personal satisfaction,” Swift says. “[It] creates a perpetually renewing sense that we have plenty to share, and that people matter beyond just the business realm.”