A new year means the opportunity for new ideas and new strategies for growth. If you and your business partner are looking for ways to enhance your strategic alliance, look no further! In this post, we will uncover three strategic alliance tips to take into 2017 with you.
- Continuously Build Trust: This isn’t some sort of novel, innovative business idea. It’s been around for centuries and is essential for growth and a healthy partnership. Even if you and the business you are partnering with begin to get comfortable with each other, continuously look for new ways to build trust. Remember, trust takes a lot of time and effort to build, but it takes mere seconds to destroy. This means never trying to hide agendas and always being forthcoming about what you plan to build and what your values are.
- Remain Flexible: As vital as having a solid business plan is and using that plan as a foundation for your operations, you must also balance that with flexibility. Things constantly evolve in business, so make sure you build a partnership with which you can easily transition into changing circumstances. Additionally, you want to make sure your business partner is also able to flexibly move through new markets and changing opportunities.
- Be Understanding of Cultural Differences: Even though you are in a solid partnership, no two businesses are the same. This means there will always be certain cultural differences. Strive to understand and respect the differences in your business partner and encourage them to examine your company’s cultural differences as well.
What tips do you want to share this year?