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Articles |
Guardian Life Business View
Jan.22.2007
Strategic Alliances Spell Success For Many Small, Female Owned Businesses
If there's one thing Franseca Hawke , 37, understands, it's service. Whether it's
designing an ad campaign, or producing a magazine her early business ventures, as she explains, "relied on an uncanny ability to make each client feel that I was
there holding their hand, understanding their problems, and providing solutions."
It is precisely why in an industry governed by, "got your money, don't look back,"
thinking that Hawke's PR business grew into a two million dollar profit generating
business in 5 years. But in addition to service, Hawke attributes her success to
an important alliance she formed in the early stages.
As Hawke recalls, I was growing fast and furious, I didn't know how to begin,
how to grow, which employees to add, and if I could afford it. "I felt overwhelmed
and excited at the same time so I detemined my way forward would
be with a strategic
partner."
For help, Hawke turned to an associate who she had worked with in the past both
in televison and during an electoral campaign. Sharon Cowie was a free agent who
operated her PR business from her bedroom in her suburban townhouse and even though it was a succesful practice, grown to maintain her upper ?middle class lifestyle,
Cowie found that she missed having someone to brainstrom ideas and strategies. She
also missed structure that came with reporting to work every day and being accountable
to someone other than herself. When Hawke approached Cowie with the idea of forming
an independent collborative, an alliance if you will, the 38-year old jumped at
the chance.
To begin, they pooled their resources, split the rent for an office space, combined
their small staff creating strategic areas for business expansion. Together and
apart they went after larger projects, they oversaw each other's work when either
of m travelled.
In combining their resources they brought in more customers, won
bigger contracts, and no longer felt like little fishes in a big blue bottle.
What was it that made this partnership work? For one thing, they had a clear history
of working together and shared the smiliar vision for business, both wanting to
have a small business identity with a big business feel. Goals, objectives, synergies
were made clear from the start.
"Relationship is to business what location is to real estate, it makes
all the difference
in the world," admits Hawke. Both women felt that their partner elevated their positions
among their client base giving them stature and value. "Fran already had a brilliant
reputation after spending years in the media, and I had built a successful PR practice
from scratch," says Cowie.
Their success demonstrated perhaps one important fundamental when forminmg a strategic
alliance. Never just settle for a partner out of frustration, because if you do you may find yourself getting the short end of the stick and doing more than your
fair share of work.
Judette Coward is the principal consultant of her own brand development and communications firm. You can email Judette at
judettecoward@consultant.com
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