The type of partnership you describe can indeed bring the benefit you want – and many more, including access to advanced technology, faster product development, better quality control, cost savings and a stronger negotiating position. But you have to choose your partner carefully, as such an alliance requires deep, organisation-wide commitment from all involved. If your partner’s goals or cultures differ radically from your own, the alliance will most likely fail.
You must also make sure that a relationship with your business is seen as an attractive proposition. So you need to articulate the competitive values that will make you a good strategic partner, and show your prospective partners how your own core competencies could solve an existing business problem. Have a look at this information on strategic alliances.
Here are some more tips that may help you with your expansion plans, particularly if you want to target overseas markets:
- Growing your business internationally
- Global development planning
- International trade and distribution
For further advice, email us or call us on 020 7099 2621.