Partnership expert Prof Ben Gomes-Casseres explains the three rules your business needs to follow to ensure a successful partnership.
1 + 1 = 3
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.
Out of many, one
1 + 1 = 1
For a partnership to create this added value, strategic partners must work as one. They must appear as if they are working for one organization towards the same goal, rather than as two separate entities.
1 + 1 = 1.2 + 1.8
Each party must benefit from the added value created by a partnership. Otherwise, there is no incentive for collaboration and the relationship will fall apart.