A Strategic Alliance
A Strategic Alliance
Forming a strategic alliance has been a tactic used on many occasions by businesses, government parties and even countries to form a common goal to get better results. Not surprisingly the conservative party talked today about forming a new government with an alliance with the DUP, due to having fewer seats than before the election and being short of the magical 326 majority seats. Would they have been prepared to form any alliance before today?
Your position as a business owner often means being on your own, but a marry with another business could be extremely beneficial. A good example of this is the M & S shops in BP garages. They are everywhere now. It lifts both brands and is symbiotic in many ways. Nothing new I hear you say. However, please consider, who could you ally with that would lift you to new heights? Financial Advisers and Accountants could be a great one for instance. You know your industry better than anyone else. If you looked at all your suppliers and customers, who could you parley with for a mutual benefit? One plus one can often make more than two. Is it blinkered thinking to not be open to this style of suggestion? Sure, there are businesses out there you would not want any strategic alliance with, yet there may be some that could enhance what you do. It is an example of synergy that benefits all.
The questions to ask yourself are;
- What businesses do I know that are like my own and have a trustworthy outlook that I can feel confident endorsing?
- What professions do I engage with that I like and are respected?
- Who do I know with a success based attitude that has a future based outlook I admire?
This will open your thinking to opportunities and ideas you may not previously have thought of and following that train of exploration could bring a eureka moment worth capturing.
Many businesses are often swallowed up by bigger companies merging or buying and this can seem a great way to grow. The trouble with this is that creative and ground-breaking experience gets merged and diluted. A good alliance will bring to the table regular, different and new formats and ideas that set us apart. Economies of scale are useful too but do not let that be your driver. An enhancement of credibility and a win-win environment is the real goal.
So, whatever happens with our new political parties and how they cooperate with each other will be interesting to watch unfold. They perhaps will both have their own selfish goals and reason for teaming up. It could be very useful. In politics, nothing surprises us these days. In the business world though, those that create healthy strategic alliances show their strength of character and a willingness to support others with a common goal. Admirable qualities to transmit to clients in a way that will draw them to you.
Consider for now what that could do for you and where you want your business to be in the next few years.
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