Alliances – Marriages made in heaven or hell?
Resources are stretched. Your company is growing rapidly. You need additional resources and expertise, yet you’ve got to reserve capital. A merger or acquisition would solve a lot of these problems but you can’t bear the thought of somebody else making the decisions. Sound familiar?
Have you considered another type of union? A business alliance could hit the spot. Imagine teaming up with a like minded partner who might be an individual or organisation sharing your core values. This union, if properly managed, can provide the resources your business needs to make the next quantum leap.
But beware. Like personal relationships, business alliances can be a match made in heaven or hell depending on how you go about courting, consummating and consolidating the liaison.
Lack of quality time, the daily grind of managing the relationship, bickering over future direction and a general feeling of incompatibility all lead to a dysfunctional relationship or, worse, breakdowns.
No wonder business alliance breakdowns are tipped to outstrip marital breakdowns within five years.
The reality is that a strategic alliance may be the best business model for your group to navigate through and achieve profitable growth.