Keys to Strategic Partnering
with another Organization
Compiled by Peter/CXO Wiz4biz 8/13
1. Strategic Reasons; Because it’s in both your best interests. You both think you’ll both gain from it, in each of your offerings.
2. Your proposed Partner thinks you have a good Product and/or Service, that will enhance/ benefit their organization (profit, time and/or costs), by Partnering with you.
3. Will they move Fast – while the “window of opportunity” is open. If they delay, remind them what they would be losing (ie, being the first to Customers, an early good market share).
4. Their Marketing & Planners like it. Therefore, they believe you have a good product/ service and will play an active role in refining your offering (if needed), and Marketing (reaching out/ distribution), to your Customers.
5. Do you have an Agreement, that covers each of your Organizations’ contribution & responsibility. Has it been approved by the Executive Management of each Organization?
6. Time is of the Essence. The announcement of the Partnership is best, when their planners (developers) have blest your offering (& made a few minor changes, if needed) and their Marketing is ready to go.
7. Appoint a Champion [Project Leader] for each Organization, to manage & push the objectives of the Partnership to completion? Has each function or person involved been briefed/ trained on the new Process? Have any mis-understandings been resolved? Is the Champion meeting the schedule? Are you meeting regularly to discuss progress? Are you resolving problems on a timely basis?
8. Have you created a Process/s of how you’re going to work together? Have you negotiated any differences?
9. Have you Tested the Process with a few Customers, so you see how it works? Have you integrated any modifications, to make the process function smoothly, better?
10. Now that you’ve perfected the Process, and are ready to Scale-up (Expand) to more Customers (serve a wider geographic base, go for Customers in other fields? Are all the bugs worked out for working in = together? Do you have a perfected Process that should be able to handle most everything? Have you tested it thoroughly? Is their Marketing ready to handle it?
Comments: Is there anything else you should do when you form a Partnership?