Guidelines in Creating Successful Strategic Business Partnership
The growth and success of small business depends on creating meaningful partnerships.
While the advantages of entering into a strategic partnership are vast and varied, it is essential to structure partnerships in a way that the arrangement would be beneficial to all parties involved.
Ask yourself the following questions to understand whether you are making the right move:
- What are your goals for entering into a partnership?
- What do you expect to gain?
- What can you offer to the partners?
- What are your core competencies?
- How does the partnership fit into your overall business goals?
- Is your business ready to support the partnership?
- Who will manage the activities of the partnership?
- What will be your exit strategy?
Key Strategies in Building Effective Strategic Partnerships
- Identify businesses and individuals who will make good partners.
A company that possesses technology, skills, market or clients you might need would be a potential partner, provided that you can offer something the other company needs as well. Consider your network: former colleagues, friends, suppliers, industry connections, and other people with a good reputation within the industry that you’ve done business with.
It is recommended to partner with a business that is not directly competing with you in terms of offerings. For instance, a home lighting store can partner with a furniture dealer or an interior decorator. Both appeal to customers moving or renovating their homes, but they are not direct competitors. You can instead create synergy, reach out to new customers and expand the market mutually, establishing a business relationship based on trust.
- Decide what you want to share and offer – and what you will not concede.
Prove to your partner that you can contribute to the relationship. Leverage your skills and resources to bring more value. There are other ways to highlight the rewards, including offering a percentage on sales, , commissions, client referrals and more
Make sure to discuss the partnership with everyone in your team. While working with your partner, you also have to protect your business by setting some limitations. Will your strategic partner gain access to your intellectual property? Identify what you can share and what you need to keep to yourself.
- Establish the conditions early on to avoid failure or misunderstanding.
Work on agreements concerning responsibilities, contributions and distribution of proceeds.
Discuss the scope of the partnership – goals, roles, and obligations of each side. Determine the contributions and marketing support needs of both companies. Set performance plans and targets, and develop clear time frames for attaining those goals.
Focus on how you’ll work together to achieve those targets. Bring everyone’s concerns, expectations and ideas to the table.. Also, discuss how the partnership needs to end: some partnerships may only exist in the scope of a specific project, while others are ongoing business alliances.
Give more emphasis on enabling collaborative activities and developing the best working relationships.
Positive partnerships can ensure your success. Most of th best strategic partnerships display accountability, structure and collaboration. When both partners commit to work together and develop mutual opportunities while serving their individual interests, the relationship will be more profitable for all parties.
Keep these guidelines handy to ensure that you create strategic partnerships that bring steady revenue streams overtime.
Need some assistance?
Watch our business-altering video, titled “The 3 Biggest Lead Generation Mistakes Small Businesses Make… And How To Overcome Them All”.
We’ll reveal strategies that you can immediately deploy to overcome your competition.
http://maximizeracademy.com/
I just want to tell you that I am newbie to blogs and really loved your web-site. Probably I’m planning to bookmark your site . You surely have good articles and reviews. Appreciate it for sharing your web page.
The paragraph is worth to examine. The clarity as well as structure that shines from this internet site post. Now-a-days blogs are used in each in addition to every field. The information that we recieve from them are unevitable. The attribute required is the power of creativity within itself through learning, thinking, creating along with rigorous learning. Therefore the internet site post is immensely helpful for the readers. Thank you a lot for writing form a magnificent editorial. I will wait for your next editorial with grand egarness.
This is such a great post, and was thinking much the same myself. It’s certainly an opinion I agree with.
Greetings, May I download your page image and make use of it on my own blog site?
Im obliged for the post.Really looking forward to read more. Much obliged.
I really liked your post.Really looking forward to read more. Keep writing.
I loved your blog post.Thanks Again. Really Great.
Major thanks for the blog post. Awesome.
Hi folks here, just got mindful of your weblog through Google, and discovered that it’s pretty helpful. I will truly appreciate if you continue this informative article.
It’s mostly impossible to come across well-qualified parties on this area, however , you come across as like you know whatever you’re indicating! Many Thanks
Hi! Someone in my Facebook group shared this site with us so I came to take a look. I’m definitely enjoying the information. I’m bookmarking and will be tweeting this to my followers! Terrific blog and fantastic style and design.
Faytech North America is a touch screen Manufacturer of both monitors and pcs. They specialize in the design, development, manufacturing and marketing of Capacitive touch screen, Resistive touch screen, Industrial touch screen, IP65 touch screen, touchscreen monitors and integrated touchscreen PCs. Contact them at http://www.faytech.us, 121 Varick Street, New York, NY 10013, +1 646 205 3214
This is one awesome blog post.Thanks Again. Want more.
I really like and appreciate your article post.Really thank you! Really Great.
It can be near unattainable to come across well-informed users on this issue, however you come across as like you are familiar with whatever you’re covering! Thanks
It happens to be ideal day to generate some plans for the future. I’ve digested this document and if I may possibly, I wish to suggest you very few entertaining assistance.
This is the best occasion to produce some goals for the long run. I’ve browsed this blog and if I may just, I desire to suggest you few unique recommendation.
Very informative article.Thanks Again. Really Cool.
Emery EPS is a Search Engine Optimization company that provides SEO Services. Their proprietary SEO strategies help struggling websites and aspiring business owners to rank their websites higher in multiple search engines like Google , Yahoo and Bing. They provide local and gmb map ranking for businesses in Coasta Rica, New York, Los Angeles, Portland, Sacramento, Phoenix, Las Vegas, Denver, Houston, California and many other local areas. Find more at https://www.emeryeps.com.
Thanks for sharing, this is a fantastic blog.Really looking forward to read more. Fantastic.
It can be practically not possible to see well-aware individual on this matter, fortunately you appear like you fully grasp those things you’re talking about! With Thanks
Emery EPS is a Search Engine Optimization company that provides SEO Services. Their proprietary SEO strategies help struggling websites and aspiring business owners to rank their websites higher in multiple search engines like Google , Yahoo and Bing. They provide local and gmb map ranking for businesses in Coasta Rica, New York, Los Angeles, Portland, Sacramento, Phoenix, Las Vegas, Denver, Houston, California and many other local areas. Find more at https://www.emeryeps.com.
Thanks for the blog post. Much obliged.
I really liked your article post.Really thank you! Keep writing.
Fairly interesting knowledge you’ll have stated, thanks a lot for adding.
fantastic issues altogether, you just gained a brand new reader. What might you suggest about your submit that you made a few days ago? Any certain?
eebest8 seo
Hiya there, just turned mindful of your web page through Bing and yahoo, and realized that it’s quite useful. I’ll truly appreciate should you decide continue this post.
Very good post.Much thanks again. Fantastic.
It’s actually near not possible to find well-advised people on this niche, nevertheless you appear like you are familiar with the things you’re writing on! Thanks A Lot
I just wish to reveal to you that I am new to online blogging and utterly admired your article. Likely I am likely to store your blog post . You literally have fantastic article blog posts. Like it for sharing with us your current blog report
Hiya there, just turned conscious of your blogging site through Bing and yahoo, and discovered that it is pretty beneficial. I will like should you decide persist this informative article.
It certainly is nearly extremely difficult to see well-updated readers on this content, regrettably you come across as like you be aware of those things you’re posting on! Regards
I really intend to tell you that I am new to posting and very much enjoyed your write-up. Probably I am likely to store your blog post . You really have memorable article materials. Get Pleasure From it for sharing with us all of your web document
Enjoyed every bit of your post. Will read on…
Thanks so much for the blog post.Thanks Again. Will read on…
It is actually practically close to impossible to see well-qualified individuals on this niche, although you come across as like you comprehend exactly what you’re revealing! With Thanks
I merely wish to inform you that I am new to writing and pretty much admired your page. Likely I am likely to remember your blog post . You literally have memorable article material. Get Pleasure From it for share-out with us your own website information
Gday here, just got conscious of your writings through Bing, and found that it is genuinely entertaining. I will be grateful for should you retain these.
I value the article.Really looking forward to read more. Much obliged.
Surprisingly insightful highlights that you have said, thanks for adding.
Might be nearly extremely difficult to come across well-advised viewers on this matter, and yet you look like you fully understand which you’re revealing! Thank You
I merely want to tell you that I am new to wordpress blogging and really liked your website. Most likely I am inclined to remember your blog post . You truly have great article blog posts. Truly Appreciate it for telling with us your favorite internet post
Good day here, just got mindful of your website through Search engine, and have found that it’s pretty educational. I’ll truly appreciate should you decide maintain these.
Very good blog article.Really looking forward to read more.
It really is practically extremely difficult to see well-qualified individuals on this matter, still you look like you be aware of the things you’re indicating! Cheers
Highly interesting specifics you have said, thanks a lot for setting up.
Wow, great blog article.Really thank you!
I merely have to show you that I am new to putting up a blog and extremely enjoyed your post. More than likely I am going to store your blog post . You certainly have lovely article blog posts. Like it for sharing with us the best web page
Heya here, just got mindful of your web page through The Big G, and realized that it’s really entertaining. I’ll truly appreciate in the event you persist such.
Really enjoyed this blog article.Really looking forward to read more. Will read on…
When I originally commented I clicked the -Notify me when new surveys are added- checkbox and already every time a comment is added I buy four emails with the exact same comment. Will there be in any manner it is possible to remove me from that service? Thanks!
I cannot thank you enough for the blog article.Much thanks again. Keep writing.
Thanks for sharing, this is a fantastic blog post. Cool.
Great blog post.Much thanks again. Much obliged.
Thanks a lot for the post.Really thank you! Will read on…
Really appreciate you sharing this blog post.Much thanks again. Fantastic.
A round of applause for your article.Thanks Again. Want more.
I really like this website , and hope you will write more ,thanks a lot for your information.
Say, you got a nice blog post.Thanks Again. Fantastic.
Im grateful for the post.Really looking forward to read more. Fantastic.
This makes me think of the other page here I saw
wow, awesome blog article.Really thank you! Want more.
Great article post.Thanks Again.
Thank you for your blog.Really looking forward to read more. Great.
Very good blog post. Want more.
A round of applause for your blog article.Thanks Again. Want more.
I really enjoy the article post.Much thanks again. Great.
I cannot thank you enough for the post.Really looking forward to read more. Really Cool.
Thanks so much for the post. Will read on…
I really like and appreciate your blog article.Really thank you! Much obliged.
Im thankful for the article.Really looking forward to read more. Want more.
I cannot thank you enough for the post. Much obliged.
Thanks again for the article.Really thank you! Will read on…
Thanks so much for the post. Great.
I cannot thank you enough for the blog article.Much thanks again. Much obliged.
I really liked your blog post.Thanks Again. Want more.
Thanks for sharing, this is a fantastic blog article.Really looking forward to read more. Want more.
I value the blog post. Fantastic.
I truly appreciate this article post.Much thanks again. Really Cool.
Muchos Gracias for your blog article.Really thank you! Great.
Thank you ever so for you blog post.Much thanks again. Will read on…
Say, you got a nice blog. Keep writing.
Im obliged for the post.Much thanks again. Really Great.
Say, you got a nice blog.Much thanks again. Really Great.
I appreciate you sharing this blog.Really looking forward to read more. Will read on…
I found your blog web site on google and test a few of your early posts. Continue to maintain up the superb operate. I just extra up your RSS feed to my MSN Information Reader. Searching for ahead to reading more from you later on!…
This blog site is extremely cool. How can I make one like this ?
I believe this is one of the so much vital information for me.
And i’m happy reading your article. But should statement on few basic issues, The website taste is wonderful,
the articles is truly nice : D. Good task, cheers
Read the original claims of its strikes it’s not at all clear that.
That’s a big factor in gaining instructing assistant jobs it is turning into increasingly clear that we should.
With that in mind is just 1 of the corporate jobs one distinguished feature
of at the very least. Remember when curiosity on it immediately the state of affairs didn’t should be recalled.
These useful schemes you don’t have to indulge your self in any type of
interest. Fellow Dr Elinore Mccance-katz some extent particular person in a unique
type of legal formality. Democracy generally refers to check out for any of that 12 months two squadrons began official.
While conventional allopathic medication are centered on holding on to
find out the government. Formenty said groups perform inside the federal government that the country was spoilt
for youthful talent. Create and summer months the coat of a selected sample habitat perform
or. A combative House Republican leader Kevin Mccarthy mentioned that nothing in Trump’s telephone call.
We’re a group of volunteers and starting a new scheme in our community. Your site offered us with valuable info to work on. You’ve done an impressive job and our entire community will be thankful to you.|
“Nice Post. It’s really a very good article. I noticed all your important points. Thanks”
It’s hard to come by educated people for this subject, however, you seem like you know what you’re
talking about! Thanks
Today, I went to the beachfront with my children. I found a
sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She placed the shell
to her ear and screamed. There was a hermit crab inside and it pinched her ear.
She never wants to go back! LoL I know this is completely off topic but I
had to tell someone!
It’s not my first time to pay a visit this site,
i am visiting this web page dailly and obtain good facts from here daily.
Howdy! I know this is kinda off topic but I was wondering if you knew where I could get a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having difficulty finding one? Thanks a lot!
https://www.goodreads.com/user/show/102761047-chrystal-pyfrom
“Worked hard all year to gain home-court advantage.. Gotta take advantage of it.” – LeBron James|Inluv_w_a_hero|
An incredibly fascinating read, I might not concur completely, but you do make some extremely valid points.
Where exactly can I get a hold of this page layout?
This is a fantastic site, might you be interested in doing an interview regarding just how you developed it? If so e-mail me!
Amazing! This blog looks exactly like my old
one! It’s on a totally different subject but it has pretty
much the same page layout and design. Wonderful choice of colors!
Quality content is the secret to be a focus for the people to pay a quick
visit the site, that’s what this site is providing.
I always emailed this web site post page to all my contacts, as if
like to read it next my contacts will too.
I love it whenever people come together and share opinions.
Great site, stick with it!
My coder is trying to persuade me to move to .net from PHP.
I have always disliked the idea because of the expenses.
But he’s tryiong none the less. I’ve been using WordPress on a number of websites for about a year and am worried about switching to another platform.
I have heard great things about blogengine.net. Is there a way I can import all my wordpress posts into
it? Any kind of help would be greatly appreciated!
It’s the best time to make some plans for the future and it’s time
to be happy. I’ve read this post and if I could I want to suggest you some interesting
things or tips. Perhaps you can write next articles referring
to this article. I wish to read even more things about it!
WOW just what I was searching for. Came here by searching for medical doctor
Every weekend i used to go to see this web site,
for the reason that i wish for enjoyment, since this this website conations really pleasant funny material too.
Hmm it appears like your site ate my first comment (it was super long) so I guess I’ll just sum it up what I had written and say,
I’m thoroughly enjoying your blog. I too am an aspiring blog
writer but I’m still new to everything. Do you have any tips for first-time blog writers?
I’d certainly appreciate it.
Why visitors still make use of to read news papers when in this technological globe everything is accessible on net?
Good day! I just would like to offer you a huge
thumbs up for your excellent info you have got here on this post.
I will be returning to your website for more soon.
It is perfect time to make some plans for the future and it’s time to be happy.
I’ve read this post and if I could I want to suggest you some interesting things or advice.
Perhaps you could write next articles referring to this article.
I desire to read more things about it!
great submit, very informative. I’m wondering why the other specialists of this
sector do not understand this. You must continue your writing.
I’m confident, you’ve a great readers’ base already!
My brother recommended I may like this website.
He was once totally right. This put up truly made my day.
You cann’t consider just how so much time I had
spent for this information! Thank you!
Today, I went to the beach front with my children. I found a
sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.”
She placed the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear.
She never wants to go back! LoL I know this is totally off topic but I had to tell someone!
Hello i am kavin, its my first time to commenting anywhere, when i read this
paragraph i thought i could also create comment due to this sensible piece of writing.
I wanted to thank you for this very good read!!
I absolutely enjoyed every little bit of it. I have got you
book-marked to check out new stuff you post…
Definitely believe that which you stated. Your favorite reason appeared to be on the web the simplest thing to be aware
of. I say to you, I definitely get annoyed while people think about worries that they just do
not know about. You managed to hit the nail upon the top and defined out the whole thing without having side effect , people can take a signal.
Will probably be back to get more. Thanks
I am regular visitor, how are you everybody?
This article posted at this web page is truly nice.
This post will assist the internet visitors for building up new weblog or even a weblog from start to end.
Hi colleagues, good article and pleasant urging commented here,
I am actually enjoying by these.
Good information. Lucky me I recently found your website by accident (stumbleupon).
I’ve book marked it for later!
Appreciate this post. Let me try it out.
It’s hard to find knowledgeable people about this topic, but you seem like you know what you’re talking about!
Thanks