Strategic partnerships are when 2 or more companies share resources and collectively improve results.

My name is Michael Barbarita with the know your numbers minute.

I had a client who installed insulation and needed to sell foam insulation in order to compete and survive.  It required a $50,000 investment in equipment and my client had no money and bad credit. 

I found a builder who had 6 big foam jobs over the next 8 months. 

We formed a strategic partnership where the builder would invest the $50,000 in foam equipment. 

We would do his 6 jobs at cost versus retail saving him $80,000.

After 8 months the builder got his $50,000 back for the equipment and booked $30,000 in cost savings My client added $600,000 to his sales line for being in the foam business.

And remember the most successful business owners, know their numbers.