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What
is a Partnering?
"Partnerings,
often referred to as Joint Ventures or Strategic Alliances,
are the joining of two or more companies to exchange resources,
share risks, or divide rewards from a joint enterprise."
Curt Sahakian, Managing Director of the Corporate Partnering
Institute
Partnerings
can take any of a number of forms such as: a strong relationship
with a major customer, a partnership with a source of distribution,
a relationship with a supplier of innovation or product, or
an alliance in pursuit of a common goal.
Sometimes
partners form a new jointly owned company (a "Joint Venture").
In other instances one partner purchases equity in the other.
Most often the relationship is defined by a contract (a "Strategic
Alliance").
The Quickest
Way to Grow
Partnerings
are the quickest way to grow your company, particularly in times
of change. Without implementing difficult and time-consuming
internal changes, they allow you to:
- Rapidly move to decisively seize opportunities before they
disappear.
- Respond more quickly to change.
- Adapt with greater flexibility.
- Increase your market share.
- Gain access to a new market or beat others to that market.
- Quickly shore up internal weaknesses.
- Gain a new skill or area of competence.
- Succeed although your company lacks otherwise key resources.
Partnerings
can rapidly meet your needs for key resources such as more customers,
additional capital, new products, better products, new distribution
channels, additional facilities, increased production capacity,
or more personnel.
Selecting
Corporate Partners
Few companies
have everything that they need. You may need money, customers,
or product.
No matter
what you need, there is someone who has it. That someone is
a potential Corporate Partner.
Look for
someone who has resources or knowledge you need - someone who
shores up your weaknesses.
Three
Vital Steps to a Successful Partner Search
- Determine
what it is you need but don't have: this can be customers,
capital, special expertise, personnel, products, or distribution
channels.
- Determine
who has what you need.
- Ask
them for it, but, (and this is key), first make sure you have
something they want or need. To do otherwise assures that
you will waste time on a deal that will either fail to close
or will dissipate before you get what you came for. In such
situations even strong introductions won't help. They just
increase the amount of time you waste before you must withdraw
to seek your needs elsewhere.
Partner
Acquisition Campaigns
We have
a structured approach to helping you find and close deals with
the partners you need. Here is how we do it: First we develop
a One Page Strategy Sheet for your specific situation. We apply
the following analytical tools to your existing competitive
position: Michael Porter Five Forces Analysis, The Discretionary
Dollar, The Virtual Dollar, Value Chain Ratcheting.
We do 7
point analysis to determine (a) who has what you need, (b) what
it is you have, or can obtain, that they may need, and (c) how
best to get them to seek you out.
We then
develop and implement a campaign to draw pre-qualified and motivated
potential partners to you.
Finally,
we help you negotiate and close your deals
Each campaign
is tailored to your specific needs. You pick and chose which
elements of the service you buy from us and which you do yourself.
We will even train you, or play backup, for those elements of
the campaign you want to do in house.
More
Information About Partner Acquisition Campaigns
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