Successful Strategic Alliances (and Marriages)
A while back in the Harvard Business Review, Rosabeth Moss Kanter posted: “Unlike full-blown mergers, in which two really do become one because one company disappears, alliances and partnerships resemble modern marriages: separate careers, individual checkbooks, sometimes different names, but the need to work out the operational overlap around household and offspring.”
Moss Kanter lists 15 traits that optimal strategic alliances share with personal marriage —
1. Be open to romance, but court carefully. At the beginning of new relationships, selective perceptions reinforce dreams, not dangers. Potential partners see in the other what they want to see, believing what they want to believe. Hopes, dreams, and visions should be balanced by reality checks.
2. Know yourself. Build your strengths. An organization seeking partners should identify assets that have value to partners and strengthen them. Networks of the weak do not survive. The best alliances join strength to strength.
The Art of Strategic Alliances
Look for three factors before making a decision on a new ally, says Robert Kiyosaki, author of Rich Dad Poor Dad. At Catalyst House we’ve made a reputation by organizing great strategic alliances. Here are some basic considerations –
Whenever I consider new strategic alliances or expansion opportunities, I look for three things: good partners, good financing and good management. Whether we’re looking for investors, partners or vendors, we weigh their experience, expertise, track record and character. The quality of the businesses or individuals we align with directly affects our future.
Are your philosophies and standards aligned? Is there trust and respect and a shared vision for the future? Are the business rules and reporting processes clear and manageable? The best partnerships and alliances are ones that have the potential to deliver big wins–for both sides.
