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Strategic Alliances vs. Partnerships

Benefits

First, what are strategic alliances? By definition, a strategic alliance is an agreement between two or more parties to pursue a set of agreed-upon objectives while remaining independent organizations.

Strategic alliances could help you build strong relationships and increase the value you bring to your clients and customers.

Focus On What You Enjoy

Are you working to catch-up and stay up to date on the non-core areas of your business? Think about the areas of your business you are the best at and enjoy the most. Have you thought about how to spend more time in that area? This will help you to enjoy what you are doing, instead of just playing catch up and hating it.

Strategic Alliances

In my experience, the most successful strategic alliances are most similar to an old west “hired gun”. What does that mean? Someone you bring in as needed to look after a specific situation. 

Strategic alliances allow you to bring in required expertise on a case by case basis. Making available, to your customer, the right expertise, solutions, and complement your strengths.

Consider developing a variety of strategic alliances. Why? Different clients will have different needs and connect with different personalities.

Working With a Specialist

Other than the initial introduction, let the specialist take the lead with your customer or client as they bring unique skills and knowledge. Which, is why you chose to work with them in the first place. Resist the urge to micro-manage the process and “assist” the specialist. It almost inevitably creates confusion. Which, will require the specialist to undo, well-intentioned, but inaccurate input.

Delegate

It may seem uncomfortable at first, but letting go and delegating is a vital part of growing your business. And, this will demonstrate the highest level of value to your customers.

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