Business Foundationsbeginner
Partnership
Definition
A formal or informal collaboration between two businesses or individuals to achieve shared goals, sharing resources, audiences, or expertise.
Why it matters
Strategic partnerships can double your reach overnight. Access to a partner's audience, distribution network, or capabilities costs far less than building those things yourself.
Example
You partner with a complementary brand. You sell planners, they sell pens. You co-create a "Launch Your Business Bundle," promote it to both audiences. Both brands gain new customers.
Related terms
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