Adapt and bundle services through strategic alliances and partnerships

Isn't it interesting how much things have changed in just a few years. It used to be that all you needed was a good product or service, a few business cards, maybe advertisements in the local yellow pages, in the newspaper... and you had a decent chance of being successful. Not so today!

Of course, you still need a good product or service that is in demand, but you also need a good web site; you would benefit from tapping into the world of social networking, blogs, etc.

But is this enough?

In today's competitive environment it's almost impossible to make it on your own as a small business! I feel that we need to form strong, reliable alliances/partnerships with other providers in your industry to offer a complete suite of products and/or services. It's no longer feasible to be a "one stop" shop. For instance, a wedding photographer might benefit from partnerships with wedding planners, bridal stores, videographers, caterers, etc. and more, to present him/herself as part of the suite of services available from which clients choose.

We have to re-invent ourselves and constantly change how we do business to take advantage of the rapid changes in today's environment. Take a look at this Pizza restaurant out in the middle of the NC mountains. Well, it used to be a barbecue joint! But the owners had to adapt and tap into the tourist traffic whose kids were probably more interested in pizza instead of ribs!

Adapt, change, offer product and service suites through partnerships with those in your industry/space. There is another option, or just go ahead and hang the sign now: "Out of Business".