When it comes to running a business, building relationships with other businesses can make them even more successful. Strategic partnerships in particular are mutually beneficial business relationships that help businesses grow at a lower cost. Understanding these partnerships will help you find the right one to extend your reach to potential customers and clients. This article defines strategic partnerships, describes some types of these partnerships, and provides steps for building these relationships for your business. A strategic partnership is a business partnership that shares resources between two or more people or companies to help all parties succeed.
