5 Tips to Treat Your Strategic Alliance Like a Great Marriage

5 Tips to Treat Your Strategic Alliance Like a Great Marriage

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Alliances and partnerships resemble modern marriages: Separate careers, individual bank accounts, sometimes different names, and working out the operational overlap can cause tension, perhaps even divorce, when messed up.

Here are five points to ponder.

1. Court with care.

Hope, dreams and vision should be balanced by reality checks. Are there dangers you’re choosing not to see?

2. Hit the gym.

Identify your assets of value and strengthen them. The best alliances need strength to survive.

3. Have a few fall-outs.

Compatibility in values is essential and butting heads is the best place to identify differences in values.

4. Love the in-laws.

Include and win over other partners and stakeholders in your strategic alliance; a difficult mother-in-law can break you.

 

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5. Love, honour and obey?

Wedding vows promise a lot and interpretation may vary. The same goes for contracts. Be ready for, ‘That’s not what I signed up for!’

Related: Win-Win: Strategically Partner With Your Top Competitors

Tracy Lee Nicol
Tracy-Lee Nicol is an experienced business writer and magazine editor. She was awarded a Masters degree with distinction from Rhodes university in 2010, and in the time since has honed her business acumen and writing skills profiling some of South Africa's most successful entrepreneurs, CEOs, franchisees and franchisors.Find her on Google+.