Cooperation builds stronger companies
When two or more parties benefit from a cooperation there is a possibility for a strategic partnership. Opening new markets, broadening of your product line, more efficient execution of non-distinctive processes, quality improvement and the introduction of new technologies are all possible grounds for such a partnership.
Shared vision and focus
The essential prerequisite is the existence of mutualism: a win-win situation for parties having a shared vision and enthusiasm. This prerequisite requires continuous attention. Weakening focus or even a hint of distrust undermine a successful partnership. The possible gains will diminish and/or one party will decide to leave the partnership.
While 80% of CEO’s consider strategic partnerships essential for their company, 50-70% of strategic partnerships fail, due to the lack of continued effort to share the vision, focus and enthusiasm.
Know when and how to go separate ways
At the end of the lifespan of a successful partnership, when the possible gains are decreasing due to changing market conditions or new technologies, it is important to end the partnership with the same focus and respect, as a successful demonstration for new strategic partnerships.
How can SPBI help you
SPBI is experienced in starting, maintaining and concluding successful strategic partnerships. Our expertise lies not only in building the requisite structure and legal contracts but also, and perhaps more importantly, in creating the necessary bond of trust between the partners.
The Majority Fail
Although strategic partnerships were rated as important, almost half reported high (60+%) failure rates.
Essential for Business
85% of respondents viewed partnerships and alliances as essential or important to their businesses.
#1 Strategy for growth
More CEO’s cited strategic partnerships as their number one growth strategy .
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