Keeping a business growing requires thinking about unconventional solutions. Sometimes when seeking a solution, it takes an angle from the other side to give a clearer light on the problem. Being power partners with another business is a great strategy to give businesses a new look at common problems.
Power partners are a great way to secure a consistent revenue flow to insure continued success. Being partners means having resources to new methods and techniques to bring in customers. It can also mean having someone for advice and other insight into providing greater improvements for business processes.
One partnership some may remember was between Microsoft and Apple. Jonathan Gifford quotes Steve Jobs about this partnership:
“We have to let go of this notion that for Apple to win, Microsoft has to lose . . . the era of setting this up as a competition between Apple and Microsoft is over as far as I’m concerned. This is about getting Apple healthy and [. . .] about Apple being able to make incredibly great contributions to the computer industry, to be healthy and prosper again.”
What this demonstrates is that Apple benefited from the enormous strength of Microsoft at the time to grow their identity. Microsoft gained a source of new customers for increased revenue.
Businesses partnering with other businesses can produce powerful results. Consider the new partnership between International Paper and Dogwood Alliance. The Memphis Business Journal reports:
“International Paper has reached an agreement with Dogwood Alliance, a Southern United States forest conservation organization, to map and identify endangered forests around the company’s southeastern operations.”
This partnership helps both sides. Dogwood Alliance can benefit from the resources and activities of International Paper to identify and record endangered forests, and International Paper can maintain their position as being ecologically friendly. Both sides save costs with shared work force. Even though it may seem these two have different business models, it is apparent that both have the same goal in this endeavor and partnering provides the greatest outcome.
These partnerships flourish because each partner provides a specific set of tools that helped complement their own skills. Businesses have a well understood idea of their own strengths and weaknesses, and finding a business that can bolster those weaknesses will reduce their implications. These kinds of partnership will effectively generate a stronger outcome because each member provides a structure to support the other.
Power partners are businesses that have developed an identity with each other. Each partner’s strength minimizes the other’s weaknesses while creating a stronger result. This kind of partnership can be developed businesses. It is about finding a common ground that each can benefit so any negative outcome will be prevented.
3rd Eagle provides consulting services to businesses for sales, marketing, and strategic alliances. If you would like to how our services can help you, please contact us so we can get started on your needs.