Business Partnerships... a proven success strategy
Those power couples such as the Kennedy's, Posh and Becks and the Clintons all represent strength in numbers! And if you are to follow the religious beliefs on creation without Adam and Eve where would we be today?
The importance and relevancy of partnerships is not solely confined to individuals but commercially partnerships make sense too. Think Abercrombie and Fitch, Ben and Jerry's, Dolce and Gabbana and Rolls and Royce to name but a few lucrative pairings! So why do we not make more of an attempt to form successful partnerships in the businessworld? Why let all those famous duos have all the success….
For years academics the world over have been singing the praises of formulating partnerships for business value. The very definition of business partnerships suggests its value;
Business partnering is "the development of successful, long term, strategic relationships between customers and suppliers, based on achieving best practice and sustainable competitive advantage"(Lendrum, 1997).
Mohr and Spekman in their research into characteristics of partnership success, indicate that the primary characteristics of partnership success are:
- Partnership attributes of commitment,
- Coordination
- Trust
- Communication quality
- Participation
- Conflict resolution technique of joint problem solving
Hence the importance of finding the right partnership for you!! It's a matter of simply assessing your needs and finding the best solution, or taking advantage of how a partner's offering can enhance your market position and success!! After all a partnership is about increasing the strength of a business and should be always seen as an advancement in the company's growth model rather than viewed as a step-back as some (thankfully a minor majority) of ill-informed cynics do!
A pig-headed determination to always go it alone, may no longer seem the entrepreneurial dream you first thought, when John in the next office block, has took a chance on a carefully selected partner and as a result maximised his profits and reach, whilst alleviating much of the associated pressures of doing this single-handedly!
Personally I think it all comes down to the fact that you can't be good at everything! Work hard and capitalise on your forte and get help for weaker areas that are someone else's forte, making your entire business model one big forte!!!! Ok so practically things aren't always as simple as that but the thought process isn't far off!
The benefitsOK, so there're plenty of partnerships you're rhyming off in your head right now as not being successful at all… though to be fair of recent times these relate mainly to personal or marital relationships… I'm thinking of all those Tigers and Ashley's that make the Medias job way too easy!
To be fair when it comes to business partnerships, the absence of heart over mind can often be the saving factor! That is not to say you enter a partnership solely on a corporate match, obviously an ability to effectively communicate with a partner and to ‘like' what they do and what they stand for is a must also! Generally in business however, we have the ability to be much more objective, focussed and clear in our decision making processes!
In choosing the RIGHT partnership there are lots of benefits to be gained:
- It's more cost efficient!
- It increases a company's competitive advantage
- Increased opportunities in revenues, occupation and investment in the sector of application
- Strengthens a company's position and product/service offerings
- Additional support available
- Increased knowledge in certain areas
- Reputation advances – you gain the reputation and customer loyalty that your partner has worked hard to acquire, simply by association!
- Partnering takes a new approach to achieving business objectives. Business partnering creates a no more traditionally-based solidarity or "organic", but a rationale form of "mechanic solidarity" (Durkheim, 1893)
Essentially, Partners work together to achieve an agreed common aim whilst each participant may still retain different reasons for achieving that common aim.
Partnering with MaildistillerIf you're already familiar with Maildistiller's company ethos you'll know where all about our partners! Our partners are literally our primary focus second only to supplying them with the best in internet and email security! So confidently I can agree with all of the above. We have seen major success in our partner network and this is where we intend to continue our efforts! See how a partnership can help you and your company achieve more, after all two brains are better than one! Anyways, I'll leave you with some very wise words from Alan Greenspan:
I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
Questions and Answers
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