Growth Isn’t Just About What You Know—It’s About Who You Know
In Days 1 and 2, we explored how Market Penetration and Market Expansion can drive business growth by deepening relationships with existing customers and reaching new markets. Today, we’re diving into another powerful growth strategy: Strategic Partnerships.
A strategic partnership is a collaboration between businesses or organizations designed to achieve mutual benefits. These alliances allow you to leverage each other’s strengths, reach new audiences, and create value that would be difficult to achieve alone.
When done right, partnerships can:
- Expand your reach into new markets
- Build credibility and trust by aligning with reputable brands
- Provide access to new tools, expertise, and resources
- Drive sales through collaborative efforts
Real-World Example: Verizon + Better Business Bureau
At first glance, Verizon, a global telecommunications company, and the BBB Serving Southeast Florida and the Caribbean, known for protecting consumers and promoting ethical business practices, might seem like unlikely partners. But together, they demonstrate how powerful strategic partnerships can be.
Through the Verizon Small Business Digital Ready Program, these two organizations delivers training, mentorship, networking opportunities, and funding to small businesses.
What Is the Verizon Small Business Digital Ready Program?
The program is Verizon’s commitment to helping one million small businesses succeed in the digital economy. It offers:
- Learning: Hundreds of hours of free courses covering marketing, technology, AI, HR, finance, and more
- Events & Mentorship: Live sessions and one-on-one coaching to help business owners grow and scale
- Networking: Opportunities to connect with like-minded entrepreneurs and potential collaborators
- Grants: In partnership with LISC, Verizon has awarded over $13.5 million in grants since 2021, with 100 small businesses receiving$10,000 each in 2025 alone
Verizon created this program to address a critical need: many small businesses struggle with digital adoption, marketing, operations, and scaling. By combining expertise and resources through partnerships like BBB, Verizon ensures small businesses are not only connected but equipped to thrive.
How This Partnership Helps the BBB
Strategic partnerships can be mutually beneficial, and this is especially true for the BBB:
- Expanding Reach– The BBB connects with more small business owners who may not yet know about their trust-building resources.
- Promoting Ethical Practices– As Verizon helps businesses grow digitally, the BBB ensures they operate with integrity and transparency.
- Scaling Education– Joint courses, events, and grants allow the BBB to educate more entrepreneurs efficiently.
- Strengthening Credibility– This partnership helps increase visibility for the program while helping both organizations achieve their respective goals.
In short, the partnership amplifies the BBB’s mission while helping Verizon deliver its promise to small businesses—a perfect example of strategic synergy.
How You Can Leverage Strategic Partnerships
Strategic partnerships aren’t just for large corporations—they can work for small businesses too. Here’s how:
- Identify Potential Partners– Find businesses or organizations that complement your strengths and serve the same audience.
- Focus on Shared Value– Partnerships should benefit both parties, whether through credibility, audience growth, or resources.
- Collaborate on Offers or Experiences– Co-host workshops, bundle services, or create joint content that provides value to both audiences.
- Leverage Their Network– Tap into the audience your partner has already built to expand your reach.
- Measure and Adjust– Regularly evaluate the partnership and make adjustments to maximize impact.
Key Takeaway
Strategic partnerships are a growth multiplier. By combining complementary strengths, you can access new markets, gain credibility, and accelerate growth more quickly than you could alone. The Verizon + BBB example shows that even organizations with different missions can align to create exponential impact—for themselves and for the businesses they serve.
If you’re ready to see how partnerships can transform your business, explore the Verizon Small Business Digital Ready Program. It’s free, practical, and designed to help small businesses grow smarter and faster.
👉Sign up for Verizon Small Business Digital Ready here
💡This is Part 3 of the “Ten Core Business Growth Strategies” series. In Part 1, we explored Market Penetration. In Part 2, we looked at Market Expansion. Today, we’ve learned how Strategic Partnerships can unlock exponential growth. Stay tuned for Part 4 tomorrow!
