On this blog, I have discussed the benefits of seeking out the underdog, the partner that is going to give it all to drive your company and theirs to succeed, the partner that is willing to collaborate and innovate rather than push an agenda. But that partner must also be the right fit for your company and what you’re trying to accomplish. As in any relationship, finding the right partner plays a key role in the relationship’s success. The question is: how do you find that perfect fit?
Following are five steps that I have found helpful when assessing a potential alliances partner:
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Big dogs want to control meetings and expect everyone to say “yes”.
Underdogs aren’t afraid to ask questions.
Big dogs hide behind NDAs.
Underdogs are open to telling you what they’re doing.
Big dogs demand that you get things done for them.
Underdogs share the work, along with their thoughts and feelings. Big dogs expect you to do all the heavy lifting.
….Underdogs dig deeper and get things done.
It is being said that Miramax is looking to partner with Google TV and Youtube.
There’s a lot of talk in the marketplace about potential partnerships, but sometimes it is just that; TALK. The verdict is out on whether speculations on potential partnerships actually helps them to materialize.
While Google is more certainly in the position to partner with major players across several industries and channels (mobile money, content, search, etc.), it’s hard to tell if they will actually partner with Miramax. This article is more like an invitation to the negotiating table. My advice is that it’s often better to keep such conversations behind close doors.
We can all learn a thing or two about Facebook’s recent new business development approach. By now everyone has seen, and most even complained about, the new Facebook format. In a recent Wall Street Journal article Facebook Chief Executive Mark Zuckerberg lent a bit of insight to the strategic partnership approach shaping the future for the social media giant.
Although Facebook is the Goliath in the current market it is smart enough to realize that even giants can’t do everything alone. In order to be able to compete effectively to crush the competition Zuckerberg realizes there is strength in numbers. The recent unveiling of partnerships with media companies such as Spotify, the Washington Post, and Netflix give the Facebook battalion the power it needs to beat the competition, such a Google+ and Apple’s iTunes.
Zuckerberg and very likely the smart people that surround him, all know that if they doesn’t implement an “open graph,” system that allows outside applications, created by a variety of media companies and start-ups, to be used within the Facebook platform someone else will. Will you be a “Zuckerberg” creating alliances to be reckoned with, or will you let your ego stand in the way of success?
See WSJ article here
Suzuki and VW were not able to handle a partnership. Can you believe this one? Honestly, didn’t Suzuki and VW see all this coming way ahead of time? My guess is that higher level executives signed the deal, but they forgot the main ingredients: drawing out their partnerships values, principles and governance processes, specially on rights of first refusals, working with the media, etc. and most importantly, getting their implementation teams on the same boat!
When you see a partnership’s dirty laundry in front of the media, you know they didn’t prepare and go through the process of mapping out their relationship beforehand.
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