On a fairly regular basis I'm told by a client that they would like 'some sort of partnering agreement' to cement a fledgling business relationship. This week was the latest - two companies who have complementary products and services believe that they could deliver a better solution to their clients by working together than separately. They are, of course, quite right. By teaming up with another business, you can add skills and resources to your portfolio and not only provide a more complete solution to your clients but also (almost as importantly!) keep out actual or potential competitors.
The hitch comes when we start trying to figure out exactly what kind of partners the two companies are going to be. Are we talking about joint marketing? Putting links to each other's web sites, having joint stands at trade shows, and including lines like 'Powered by ..." at the bottom of our brochures? Or a reseller relationship, where one of you can resell the other's products and services? Or even a two-way reseller relationship, where each of you will take the lead in different markets/geographies/client accounts? Or does one of you want to have a full-on, well publicised and marketed relationship that allows each of you to bask in the other's reflected glory, while the other prefers a more 'behind the scenes' collaboration with the partner's staff acting under their banner?
Like most business relationships, different approaches will work for different companies at different stages in the relationship. There is no such thing as a 'right' way to work together. The only thing really matters is that you both agree what kind of partners you want to be! With this client, they and their potential partner are currently in different places - each has a different view of the best way to work together, and until these are reconciled we have to put the champagne on ice and keep the confetti boxed. I'll be working with them both over the coming weeks to see where the middle ground lies, and how they can each use this relationship to maximum benefit - watch this space!
Wednesday, May 31, 2006
Tuesday, May 30, 2006
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