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Planning For Your Business
Successful Collaboration; Overcome Misinformation Based
Pitfalls
Misinformation Based
Pitfalls
You could easily be guilty
of underestimating the complexity of coordinating
and integrating corporate resources, and
overestimating your partner's abilities to achieve
the end result. Self-doubt and not believing you
have the skills and tools to create an alliance can
crop up here.
Eventually, Partnering
success depends on management’s abilities, skills,
commitment, aspirations and passions in assembling
the pieces of the puzzle. When unequal dependence in
a relationship occurs, the partner with the least
dependence could be less likely to compromise and
put energy into the relationship.
Meanings assigned to words
by different cultures can cause serious problems. In
one culture quick delivery could mean one day and in
another it could mean one month. This opens the can
of worms often referred to as unrealistic
expectations of a partner's capabilities. The areas
commonly include technology, research, production
skills, marketing might, and financial backing.
We also have the unexpected
inefficiencies or poor management practices of a
partner that can be the demise of a well-intended
alliance plan. Also at risk is the area of
developing an alliance with multiple partners, who
later become rivals to one another. This puts a
serious strain on the integrity of the remaining
alliance.
Now that you've had a view
of Partnering from the downside, don't let these
hurdles stop you. Be clear on what alliance
partnering is not. It is not instant gratification,
nor a quick fix. It is not a flavor of the month
management strategy. Strategic alliances are
separate entities that have come together to solve
their individual problems in a way that serves the
whole mutually. It is sharing core competencies that
overlap and create synergies. The struggle is a
necessary part of any relationship that is valuable
and lasting.
To reduce the effects of
Partnering pitfalls, David Elliott, senior vice
president and chief administrative officer at
Technicolor in Hollywood, CA shared his thoughts
with me. "If a partner fails to meet their
responsibilities, a clear agenda is necessary that
both sides are operating from. When the agendas are
different or conflicted—that’s a problem.” He went
on to say, “We don't have partnering horror stories
because we include an exit strategy, before going
into the relationship.”
Elliott's advice for others
entering into partnering relationships is to do your
homework, know the agenda of all partners in the
relationship and measure against it. If after doing
your homework you're still not completely sold on
partnering with a company, start small. Begin your
alliance by partnering with another for a simple or
small promotion and get your feet wet. If you do
stumble, then having the ability to regenerate after
a fall is crucial, especially if you or a partner
simply make a mistake.
Having knowledge of the
alliance unknown should keep you from becoming
immobilized and waiting for opportunities that could
easily pass you by. Sure, there are some risks, but
to lessen the effects, do your homework, know the
agenda of all partners in the relationship and
measure against it. If after doing your homework
you're still not completely sold on an alliance
relationship with a company, start small. Begin your
alliance by Partnering with another for a simple or
small promotion and get your feet wet.
If you do stumble, having
the ability to regenerate after a fall is crucial,
especially if you or a partner simply makes a
mistake. Be careful when events and circumstances
are not what you hoped or planned for. You might go
to a place of apathy. If you remain in a toxic
mind-set, you'll wait and wait for things to get
better before you move into action. The trouble is
that things rarely get better until you propel
yourself into a state of activity.
To be successful at
partnering you must commit to functioning at a
higher level. A level that will allow you to stretch
your comfort zone and then commit to moving into
action. Without these two issues in concert, you
might not get started or restart when necessary.
Once you get back in the
action, you can go after small wins to reestablish
your confidence to take risks in pursuit of an even
larger prize. The key is to not wait for all to be
perfect before you commence. It's okay to subscribe
to the idea of: ready, shoot, aim. Do though; take
the time to adjust your aim after you begin. Be like
a commercial airline pilot and course correct
regularly. Keep your future focus on the partnering
journey. Keep it improving. Be decisive, and show
the qualities of a leader in your industry. You will
be rewarded.
To access
helpful additional information from Ed Rigsbee at no
charge, please visit
http://www.rigsbee.com/downloadaccess.htm
Article adapted
from PartnerShift-How to Profit from the Partnering
Trend by Ed Rigsbee, CSP, published by John Wiley &
Sons, New York, October 2000. All of Rigsbee’s books
are available from Amazon.com.
Ed Rigsbee, CSP
is the author of PartnerShift, Developing Strategic
Alliances and The Art of Partnering. Rigsbee has
over 1,000 published articles to his credit and is a
regular keynote presenter at corporate and trade
association conferences across North America. He can
be reached at 800-839-1520 or
EdRigsbee@aol.com.
For a treasure trove of additional information and
ideas, visit his Partnering University Web Site at
http://www.rigsbee.com
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