Partnership expert Prof Ben Gomes-Casseres explains that the age of firms competing against other firms, one on one, is over. In the future groups of businesses will compete against other groups, making it crucial to find the right strategic partners to compete on your team.
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Partnership expert Prof Ben Gomes-Casseres explains the three rules your business needs to follow to ensure a successful partnership.
When a business works with the right strategic partner, both parties bring something to the table that the other cannot. They can therefore create more value together than either could on their own.
By Ben Gomes-Casseres, Advisor to Powerlinx, and author of Remix Strategy: The Three Laws of Business Combinations
Scott McNealy, ex-CEO of Sun Microsystems, tweeted this message some time ago:
“Most over used phrase in business is ‘strategic partner.’ Favorite partnership for me is a purchase order. Defined charter, beginning, end.”
Unfortunately, this view is precisely why many external partnerships fail. True collaboration is much more than a purchase order. Setting up an external partnership as if it were a PO, at best, leaves value on the table. At worst, it leads to conflict and value destruction.
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We’ve been writing about the power of strategic partnerships, and the role they play in businesses’ growth, for a little while now. Lately, we’ve been seeing several articles popping up in major publications and research documents that support our thinking and what we are looking to help others to achieve.
Business intelligence is helping executives around the world derive meaningful performance insights for more strategic decision-making and improved company performance. Joining data, technology and analytics, business intelligence (BI) provides executives with the opportunity to uncover new business opportunities, expand into new markets and find new, compatible business partners.
What makes for great business partnerships? A successful partnership? Partnerships offer a wealth of opportunities for growth – when they occur between the right businesses. To succeed, partnerships require more than complementary goals and audiences; partnerships can only thrive when their partnership managers themselves get along.
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This post will provide a functional understanding of benchmarking as a performance management technique and show how to use benchmark management to make the most of your business partnership.
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Once a myth, the billion-dollar startup is emerging in many shapes and forms, introducing technologies that are quickly changing the world we live in. Defined as companies that have grown into valuations of $1 billion or more, these “unicorn” companies provide tried and true models any business can consider for growth and scaling.
What’s the special ingredient that’s led to many of these companies’ growth? Partnerships. READ MORE
What motivates business owners toward their biggest buying decisions, and how can vendors align their sales tactics to buyer needs? Global peer advisory and coaching network The Alternative Board surveyed business owners in all major industries on the factors influencing their largest purchases, and the results might surprise you. Below find five factors every vendor should keep in mind when guiding customers through their sales funnel. READ MORE
According to a recent study commissioned by Blur Group, 87 percent of U.S. decision makers in procurement and vendor management agreed that they would like to partner with new service providers, though 71 percent felt they had little freedom to develop new partnerships. READ MORE
