|GET FOCUSED. GET CONTROL. GET GROWING.|
The Good, Bad and the Ugly of Strategic Alliances, Part 2
"Their business model includes no services, and ours includes no manufacturing. There are no conflicts built into this relationship. The fit has been incredible, because we have a common market and a common foe."
Recently I met a new business owner and prospective client who planned to build a great business in his field of expertise. The complex nature of assignments required a variety of talents for his business model to succeed, so he identified other professionals who were complementary. He envisioned his partners working together with him to create this new business opportunity.
However, issues surfaced with one of his partners early on. As we talked further, more issues came up. The partners, all professionals, were venturing into projects that were only slightly related to the business model. I observed mushrooming chaos as it became clear that everyone had a personal agenda: chasing good projects trumped establishing and growing the joint business. Personality conflicts and disagreements abounded. My client grew increasingly frustrated as his business slipped out from under him, and he is job hunting, at least for now. Although I lost a client, I perceived the founder to be in a no-win situation, paddling in a row boat upstream against strong currents.
Why did these relationships fail? Successful alliances and partnerships require core alignments in the following areas:
My former client had not addressed all these factors, and the dynamics spun out of control. If he decides to try again, he will probably select his partners more carefully and build more structure into the relationships. With due diligence, we can learn from his painful mistakes and build successful partnerships on the first try. Once you get it right, repeat!
|firstname.lastname@example.org | 978-255-1767 | 25 Storey Avenue #290, Newburyport, MA 01950
site map | © 2003–2013 Possibilities@Work, All rights reserved