Does your business develop strategic partnerships?
I’m in Atlanta this week for the Solo PR Summit, where I had the pleasure of presenting this morning on the topic of strategic partnerships. We looked at why a partnership might make sense for your business, how to identify your best partner (and why paying attention to red flags matters), lessons learned, and advice for developing a partnership plan that works.
It all starts with why.
In the session, I identified four reasons to consider a strategic partnership:
- Growth (think market share)
- New Markets (geographic or sectoral)
- New Products (e.g., I had a joint venture to develop a newsletter about the Russian real estate market)
- New Lines of Business (e.g., I co-launched a social business line)
Here’s the complete presentation. Have you had (or do you currently have) a strategic partnership? What’s worked and what have you learned?
Photo by familymwr (Flickr).