Strategic Partnerships Are Like Marriage, How To Choose Them For Greater Success
- Date: 2008-04-20 - Word Count: 508
Share This!
You might not know it, but strategic partnerships abound. Think about your own life. Are you married? Committed to a significant other? If so, you are living in a form of a strategic partnership. Both individuals bring something to the relationship that the other values and sees as being beneficial. It's similar in business. A strategic partnership should be a relationship in which both parties bring something to the relationship that each considers a valuable asset.
When you decide you're ready to take the leap into a strategic relationship, contact your potential strategic partner and go out for a brainstorming session. Decide if you think the relationship will benefit both of you and how. Spell out how each of you thinks the relationship will work, and who is responsible for doing what and when. Strategic partnerships can become a source of discontent if things are not clearly outlined in the beginning. Sometimes, there are people who say they're looking for a strategic partnership, but they're really only in it for what they can get out of it.
A strategic partnership is just that ' a partnership in which each party brings something to the table and is willing to work to make sure the other partner is satisfied in the relationship. A strategic partnership can either be like a great marriage or a marriage gone badly; either way, it will take work and a commitment on the part of each business involved.
Just like you don't want to rush into marriage, you probably don't want to rush into a strategic partnership. Date for a while. Try a couple of projects before you commit to a long-term relationship. Make sure the other party is as committed to the relationship as you are and is willing to do their share. The great thing about a strategic partnership is that, hopefully, you'll be partnering with someone who has a different set of strengths than you do. Learning to capitalize on each other's strengths and minimize each other's weaknesses is one of the reasons strategic partnerships are so valuable. Like a marriage, you can learn to work together when you've found the right strategic partner.
Be creative when you think about potential strategic partnerships. Do you do pedicures? How about partnering with a person who sells sandals or women's clothing? Are you a make up artist? How about partnering with an image consultant? Or having the image consultant partner with a tailor? One cosmetic consultant creatively partnered with a travel agent because she had a product line that would take a normal bag of makeup and reduce it to 4 purse size pieces for the woman who traveled. There are no limits to strategic partner opportunities when you begin to think about who touches a market that is similar to yours.
As in any relationship, you may hit a few bumps in the road, but if you've done your homework and chosen someone who is like-minded in their philosophy, you will be able to weather the storm and make your partnership work for you.
Copyright (c) 2008 Christian Fea
When you decide you're ready to take the leap into a strategic relationship, contact your potential strategic partner and go out for a brainstorming session. Decide if you think the relationship will benefit both of you and how. Spell out how each of you thinks the relationship will work, and who is responsible for doing what and when. Strategic partnerships can become a source of discontent if things are not clearly outlined in the beginning. Sometimes, there are people who say they're looking for a strategic partnership, but they're really only in it for what they can get out of it.
A strategic partnership is just that ' a partnership in which each party brings something to the table and is willing to work to make sure the other partner is satisfied in the relationship. A strategic partnership can either be like a great marriage or a marriage gone badly; either way, it will take work and a commitment on the part of each business involved.
Just like you don't want to rush into marriage, you probably don't want to rush into a strategic partnership. Date for a while. Try a couple of projects before you commit to a long-term relationship. Make sure the other party is as committed to the relationship as you are and is willing to do their share. The great thing about a strategic partnership is that, hopefully, you'll be partnering with someone who has a different set of strengths than you do. Learning to capitalize on each other's strengths and minimize each other's weaknesses is one of the reasons strategic partnerships are so valuable. Like a marriage, you can learn to work together when you've found the right strategic partner.
Be creative when you think about potential strategic partnerships. Do you do pedicures? How about partnering with a person who sells sandals or women's clothing? Are you a make up artist? How about partnering with an image consultant? Or having the image consultant partner with a tailor? One cosmetic consultant creatively partnered with a travel agent because she had a product line that would take a normal bag of makeup and reduce it to 4 purse size pieces for the woman who traveled. There are no limits to strategic partner opportunities when you begin to think about who touches a market that is similar to yours.
As in any relationship, you may hit a few bumps in the road, but if you've done your homework and chosen someone who is like-minded in their philosophy, you will be able to weather the storm and make your partnership work for you.
Copyright (c) 2008 Christian Fea
Related Tags: joint ventures, strategic alliance, collaboration marketing, integration marketing
Christian Fea is CEO of Synertegic, Inc. A strategic Collaboration Marketing consulting firm. He empowers business owners to discover and implement Integration, Alliance, and Joint Ventures marketing tactics to solve specific business challenges. He demonstrates how to create your own Collaboration Marketing Strategy to increase your sales, conversation rates, and repeat business.Contact: christian@christianfea.comwww.christianfea.com Your Article Search Directory : Find in Articles
Recent articles in this category:
- The No. 1 Rule For Projecting Confidence - Speak With Authority
One of the most important characteristics a person can project in a business setting - or any situat - After the Autumn Checkout European Debt Crisis and U.S. Brewing Rebound
In the commotion caused by the Fed on interest rates come to an end, the "disastrous" for the euro a - Advantages Of Arcade Game Rentals
There are many different advantages to arcade game rentals. Most people need something to release th - A General Primer on Truck Cargo Nets
In modern highways it is quite rare to see truck cargo nets in action, this is because they are usua - The United States Will Burst More Severe Financial Crisis
Not long ago, suddenly announced that the central bank to raise interest rates, the interest rate hi - Niche Marketing Profits - 3 Easy Steps to Finding a Profitable Niche Market Income in 10 Minutes
Like most beginners I was having a very difficult time trying to find a niche market to earn extra m - The Importance of Hospitality Management Consulting Firms Toronto
Businesses and the managers that help guide any business are in a constant state of improvement and - New Keynesian Theory Label
2010 winner of the Nobel Prize in Economics three theories have been labeled as "New Keynesian" labe - Federal Reserve Pouring Money QE2 Unpredictable Fortune
U.S. economist Milton Friedman proposed a "throw the cash from a helicopter" view, while the practic - Fiscal Consolidation Should no Longer Delay
British Chancellor of the Exchequer George Osborne today announced fiscal consolidation policy, shoc
Most viewed articles in this category:
- Common Financial Problems to Avoid
One must first change their habits and not procrastinate. American Consultants Inc at offers key fi - How a Bad Hire Can Hurt Your Business
What's worse - hiring the wrong person or not hiring anyone at all? Companies can become almost des - Joel Comm Is Dr. Adsense
What is Adsense? If you are new to making money online and net marketing, you may not know what Ads - 5 Steps For A Dynamic Wealth System Online
Recipe: Opportunity + knowledge + Dynamic Wealth System + Your Action = Massive Success!!! Step 1 - How To Stop Foreclosure
Losing your house to a foreclosure can be very scary. There are times when circumstances are ou - How to Always Pitch A Strike
As business owners, we are always working on new ways to convince people to become customers, client - Membrane Diffuser Solutions for Wastewater Treatment Systems
In the aeration basin of a typical wastewater treatment plant there are both organic and inorganic m - Another Year Hating Your Job or Loving Life?
Copyright © 2007 Mary Foley I've come to the conclusion that to be successful - really successf - Dyestuff Industry In India And China
World demand for dyes and organic pigments to touch $10.6 billion in 2008According to a study on dye - Cma-cgm Case : the Series of Lawsuits Continues in Syria, Lebanon, Egypt, France, England and the United States
Damietta company case : The series of lawsuits continues in Syria, Lebanon, Egypt, France, England a