While some entrepreneurs may be hesitant to partner with other companies due to fear of misalignment, not a balanced relationship or a branding disaster, it can actually be quite beneficial if done correctly. Forming the right strategic partnership can increase your efforts in two essential areas of the business -- credibility and distribution.

When you receive referrals, show your appreciation! You can offer a small token of thanks, loyalty discount or handwritten note. Referrals are a great asset to your business; don’t let the gesture go un-noticed.