Be specific! Being too vague in your plan of action can leave you sputtering along. It is very important that your plan be detailed. You need “how” and “when” of your business plan.

Implementing your plan of action: Now that you have a written set of goals and a detailed plan of action, last key element is implementing your plan. After all, what good are your goals and plan of action without acting on them?

For most, this is hardest part. In my mind, it can be even more so in home business sector. If you work for some one else, you probably have that constant “some one is watching over you to make sure you get all your tasks done on time.

In home business field, it can be very easy to procrastinate. Yes, we have all done it. Some more than others though. This is where you divide men from boys. While many of “boys” are preparing to find perfect time to get ready to get started, “men” are already in action.

We know that there is no “perfect” time to get started. If you are waiting for this, do yourself a favor and give up. It is never going to come. To be successful, you are just going to have to do it. And do it now!

In conclusion, let me say that although these three key elements are all very easily done, doing them does not guarantee success. There is another intangible, YOU! Add your own personality to your business and let it grow.

Here’s to you and your success. Today, not tomorrow!

-Do specify how referrals will be passed to you. Will clients be contacting you directly or will initial inquiry pass through your partner?

-Do specify your payment structure in writing. Will you paid directly by clients that come to you or will billing process take place through your partner's organization? If you are not being paid directly, what is billing and payment cycle through your partner's company? What percentage of commission, if any, will you owe to your partner for business that comes in through their company?

-Don't dismiss partnerships with companies, organizations or individuals with whom you don't have an immediate and obvious synergy. Be open! Be creative! Explore! For example, I am in process of working with several business coaches to create seminars on how to host successful product launches for home based businesses.

-Don't neglect to do your research. Ideally, partner with an organization that you are familiar with and whose services you have either used personally or in a business setting. (Or, get at least three referrals from others familiar with your potential partner's services and business style.)

-Don't accept verbal assurances, particularly where commission and payment structure is concerned. Even if you know and trust your partner, having a formal written agreement is insurance against misunderstanding.

-Don't hesitate to question a partnership that is not living up to your expectations. Strategic alliances are a two way street. If your counterpart is following your business agreement, politely remind them of their reponsibilities.

-Don't reveal any information, resources, benefits etc. that make your value proposition unique until you are 100% sure how that information will be used and presented by your business partner.

In short, strategic alliances can be an effective method of marketing, advertising and sharing resources. Whatever form your business partnership will take, be sure that expectations are clearly defined on both sides.

Andrea has over ten years of experience in the events and hospitality industry. She is currently an entrepeneur and small business owner.

Andrea's company, Eleganza Meetings, Events & Conferences Inc., offers a full range of planning resources and services. She will also be launching allaboutsmallbiz.com, a website geared for fellow small business owners.