Why exploring a partnership program is so important
A 9 to 5 job is alright but there’s a limit to the earnings. We all want to earn a little bit more. So, there are options like freelancing, side hustles, or setting up a small business. But here’s the thing, each of these comes with drawbacks.
You may have certain expenses that make it difficult for us to invest in a side business or you may be too exhausted to work on a side hustle.
To give ourselves a space of flexibility and add more to our earnings, we should explore a partnership program.
So, what is a partnership program?
A partnership program is an affiliate program that allows vendors to get affiliated with another organization to sell their products and services.
Now, why should you explore a partnership program as a vendor living abroad?
Zero investment as a one-man-arm
There is absolutely zero investment when you work as a partner. You don’t have to spend a single cent on this program. The least you need to invest is your time. Rather, you are paid an incentive for every sale you make. As the saying goes, the more, the merrier
Minimal investment as a troupe
Even if you think of investing, the amount would be of a minimal range. You don’t need an office, a myriad of computers, or a plethora of human resources with other skills. You just need more salespeople. The more, the merrier, remember?
The salespeople working under you would be assigned the same task as you. That is, sell the products and services of another agency.
Now, let’s do the math here, suppose you work as a partner for company X. Every time you sell their services, you get a 20% commission. At the end of the month, when you total up all these commissions you get $10,000.
When you hire another salesperson to work for you, you pay them a monthly salary of $2,000. However, he brings you a monthly revenue of $10,000. If this model works for you, you have hit the jackpot. All you need to do is hire more salespeople and increase your earnings
Be a foreign representative
For a partnership program, it’s advisable to opt for an offshore agency rather than a local one. For example, if you reside in Canada, better you work for an agency based in Singapore, Bangladesh, or India. The reason being the Canadian agency may hire you as an expert salesperson when you want to be a potential partner.
As a partner for a foreign agency, you can be the bridge between that agency and the potential customers. You get to be the Canadian representative of that particular agency. You’ll also have a competitive edge. Customers would be more inclined to buy from you because of your USP, which is you can provide the same service in a lesser amount. It’s just a win-win situation for everyone involved.
Furthermore, you get to extend your professional network to other regions. Having yourself affiliated with an offshore agency gives you the opportunity to introduce yourself to the CEO(s), project managers, and other employees of that agency.
Broaden your horizon
When you sell any service or product be it your own agency or someone else’s, you need to have concrete knowledge of that particular service. Studying the ins and outs of a particular service broadens your horizon. You began to gather knowledge on a variety of topics. For instance, maybe you don’t know how to write a single code but when you sell a digital agency’s web development service, you gain a certain understanding of it. This is an added advantage. After all, every knowledge is a powerful resource.
To conclude, if you are looking to start a new venture with zero or minimal investment with the fruitful opportunity to make foreign friends, then you should explore a partnership program.