Meet Elizabeth, a dynamic entrepreneur who specialises in fostering meaningful business connections through strategic collaborations. With a keen eye for mutual growth, Elizabeth focuses on creating partnerships that benefit all parties involved.
In addition to connecting businesses, she also provides expert consultancy services, helping companies navigate challenges and achieve sustainable growth. Through innovative strategies and a collaborative approach, Elizabeth is dedicated to making a significant impact on the business community in Singapore.
What inspired you to start Grow Connections, focused on business partnerships development?
Partnership is actually a long-term endeavour, and it’s all about relationships. Without relationships, there are no partnerships. People follow you because of the trust they have in you.
My aim is to have 80% of SMEs form win-win strategic partnerships, collaborate effectively, and elevate their companies to the next level.
Can you share an example of how a strategic partnership transformed a client’s business group?
Strategic partnerships help increase sales and awareness. For example, one company, R, initially had limited partners and didn’t know how partnerships worked. Through guidance, they learned the structure of partnerships and how to find quality partners who could refer them leads every month.
They began hosting events with partners and associations every two months to engage both their clients and partners. This consistent engagement kept their company top-of-mind, leading to more referrals and value creation for everyone involved.
What do you think are the key elements of a successful business partnership?
The key elements are relationship, trust, and taking action. A strong partnership starts with building a strong relationship and establishing trust. Once trust is built and both parties feel comfortable, progress can be made.
The next step is taking action. After every session, it’s crucial to follow through with actionable steps to solidify the relationship and partnership moving forward.
How do you identify the right collaborators for your clients, and what factors do you consider during the matchmaking process?
The first step is understanding my clients’ businesses, their industries, and their clientele. Then, I identify potential partners who could collaborate with them and refer clients.
It’s about forming a “power team” of the right partners. I look for partners with similar clientele and ensure both parties are open to a two-way collaboration mindset before connecting them.
Partnership is actually a long-term endeavour, and it’s all about relationships. Without relationships, there are no partnerships. People follow you because of the trust they have in you.
What industries or types of businesses benefit the most from partnership development strategies?
All industries, particularly SMEs, can benefit as long as they’re open to collaboration. Strategic partnerships can help businesses tap into each other’s strengths and reach broader audiences.
What are the most common mistakes businesses make when forming partnerships, and how can they avoid them?
Common mistakes include not bringing value to the table during the initial meeting and failing to follow up afterward. To avoid this, businesses should think about how they can add value to their potential partners before the meeting.
Start by sharing and giving before expecting anything in return. After the first meeting, follow up and check in on how both parties can collaborate more closely. Taking action is essential.
Looking ahead, how do you see strategic partnerships evolving, and what new opportunities do you anticipate for businesses?
Partnerships are evolving quickly, with more people seeking collaborations to leverage each other’s strengths and reach targeted audiences. Moving forward, I anticipate events will play a significant role. Many businesses will collaborate through events to connect with larger audiences and create new opportunities.
Where do you see yourself, and what’s your vision for Singapore in the next 5 years?
In the next five years, I see myself as an influencer in strategic partnerships and a connector for SMEs, helping them grow through collaborations via Grow Connections Solutions.
For Singapore, my vision is to see more overseas companies collaborating with local companies through events. I also envision overseas companies setting up headquarters in Singapore to expand to other regions while working closely with local businesses.
Connect with Elizabeth: GrowConnections and LinkedIn
