Punching above your weight – partnerships & alliances

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) Local or famous chef – food producers
    (2) Less well known individuals – could involve partnerships such as NED/Chairman
    (3) Ex 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

 

 

 

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