Why Partnerships and Alliances? – Many start up companies and evolving businesses are faced with the dilemma of not being taken seriously by others – customers, suppliers etc. One effective route to punching above your weight is through forming partnerships and alliances with significantly larger organisations or well known people e.g. through the
appointment of a non executive director.
Partnerships and alliances are also effective routes to extending your offer to capture a broader market. Partnerships and alliances can be with people and with companies!
Here are several pointers:
- Punch above your weight (profile and brand) e.g. gain market gravitas by linking up with larger players
- Extend your offer to customers by creating partnerships e.g Petrol stations that have taken on food franchises e.g. Subway
- They help you get closer to your customer e.g some garden centres are now making more money from their food franchises than selling flowers
- Here are some types of alliances:
(a) Strategic partnerships – mergers, acquisitions, technology transfer
(b) Strategic marketing partnerships – driven to achieving customer access
(c) Tactical marketing partnerships – informal agreements that help get more customers - Alliances/partnerships with “PEOPLE” can be extremely powerful:
(1) Linda Barker – Furniture and household goods
(2) Jamie Oliver and Gordon Ramsey – Food producers
(3) Less well known individuals – Could involve partnerships such as NED/Chairman
(4) Ex Metropolitan Police Commissioner – Chairman of security software company
PEOPLE PARTNERSHIPS CAN BE EXTREMELY POWERFUL.
A NON EXECUTIVE DIRECTOR FOR A GROWING BUSINESS CAN WORK WONDERS
AND OPEN DOORS
