Strategies: Going virtual adds expertise

— -- Have you ever failed to land a prospective client because they thought your company was just too small? I certainly did when I was a sole proprietor. One prospect — a large science museum — told me that though I was the best person to help them with their strategic business plan, they didn't feel comfortable hiring me because I was a one-woman operation.

I learned that I needed a way to add size, depth and strength to my company without adding employees. One great way to do this is by forming a "virtual" company.

In a virtual company, you join with others — also often sole proprietors — to bring your individual strengths, expertise and capabilities together. This enables you to more successfully market to and serve clients, and land bigger jobs.

For instance, one consulting company I've used describes "Their Team" in the company brochure, listing an impressive group of people. Below the name of each "team member" is clearly printed the name of their individual companies. Nevertheless, by listing these experts together, they show clients they'll have a full range of top specialists at their disposal.

Creating a "virtual" company — or a marketing alliance — enables you to:

•Do joint marketing. It's less expensive — and more effective — to combine marketing lists and create combined marketing materials. You can also reach a larger pool of potential clients.

•Offer clients a broader range of services. Sure, you may believe that you can serve all of your clients' needs, but the client may not feel the same way. Many clients prefer to hire specialists rather than generalists. By offering clients a team of specialists, you're more likely to get — and keep — a client's business.

•Reduce clients' apprehension. Many clients are reluctant to hire one-person or very small companies. They're fearful that they could be stranded if something happens to the one key person.

•Present a more impressive image. Together with your alliance partners, you're going to have a longer list of former clients, a broader range of experience, awards and other references than you would have on your own.