Nowhere does the expression "it's all in who you know" have more meaning than the world of business. Business is all about connections, and that can be one of the most frustrating parts of starting out in a business. It can feel like you're going it alone for awhile. One of the best things that you can do to help your company succeed and grow in your market is to make and keep strong business alliances with other companies. If you're brand new to the industry, it can seem a little intimidating to work with other companies that have been in the industry longer, but it can make all the difference in the world to the health of your company.

Making strategic business alliances can be as simple as providing word-of-mouth advertising to companies that offer products or services that work well with the products or services that you offer. Word-of-mouth advertising is still one of the most effective ways to get customer attention and establish a strong customer base.

Along with word-of-mouth promotion, consider entering into an agreement with a similar company to provide referrals for each other. If you have products that work well together or compliment each other, such as if one company creates a remote control and another company manufactures the batteries, entering into a referral system might greatly benefit both companies. If company A produces remote controls and refers their customers to company B, which makes batteries, then company B will get more business. In return, company B can refer their customers to company A, or provide testimonials or other advertising for the products that company A makes. Strategic alliances, such as this example, can benefit both companies that enter into them, making both companies stronger and more likely to succeed in their chosen field of expertise.