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.
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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.com
http://www.christianfea.com
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