Alliance Organizations for the Internet of Things (IoT)

According to VentureBeat.com, a group of the largest heavy hitters in the IT world are forming what has been called the AllSeen Alliance with over 180 worldwide member companies. This alliance will take on the task of creating and maintaining unified standards for device-to-device communication. The Allseen Alliance announced its existence in 2013. It joins a number of forming alliances that are tasking themselves with the development of communication protocol standards to make the IoT operate smoothly. Continue reading

Alliances for IoT Marketplace: Evolving Alliances

What is the Internet of Things (IoT)? Is it viable? Should my company be part of it and if so, how do we go about it? All good questions.

The IoT, loosely defined, is the ability of objects to share data with other objects wirelessly to enable that data to be used to control or manipulate devices intelligently. IoT is the next generation of connected devices. We have moved from having computers in dedicated rooms, to mobile devices to connected devices. Devices consist, as a minimum, of a controller chip and software. Chips are getting smaller. Alliances are a must! Continue reading

How to Choose the Right Business Alliances

Though there are many exciting, new businesses to partner with, it’s easy and more profitable to choose the right one. Here’s how.

2014 was a great year for startups geared toward enhancing consumer convenience through mobile devices. In fact, consumer tech was the obvious business focus that startup founders seemed to take the most interest in. Continue reading

Managing Channels of Distribution with Strategic Partnerships

Starting or expanding a business takes more than just a good business plan and product. It also requires avenues for getting your products to the right customers at the right time. Finding channels of distribution that allow you to accomplish your business goals involves building deep strategic alliances with the right partners.

Strategic alliances create a quicker path to growth. Continue reading

Why Strategic Alliances Sometimes Fail

 

The business community frequently relies upon strategic alliances to create better products, better distribution, and improved customer satisfaction. Unfortunately, many alliances fail. A review of those failures helps current business owners understand what to avoid.

Alliances Turn Into Rivalries  Continue reading

Constructive Forms of Strategic Alliances

 

The best strategic alliances between two or more companies are those where company resources complement each other. At the same time, not all contributed resources can be used effectively in an alliance.

There are two major forms of constructive strategic alliances between companies, Continue reading

6 Questions to Ask Before Developing Strategic Alliances

Strategic alliances can increase market share, reduce competition, improve expertise, and open the door to new funding opportunities – but not all strategic alliances are created equal. The truth is that sometimes a strategic alliance can cause more harm than good if the partner company has different goals, gets more than it gives, or otherwise fails to live up to its side of the deal.

Before you set up a strategic alliance, ask yourself these questions first: Continue reading

Increase Channels of Distribution with Better People, Processes and Products

Channels of distribution are some of the most important parts of your business.  If you have positive momentum in distribution, your product/service is constantly in demand and you are making money. If you cannot get distribution, finding customers is difficult and costly and your business is overwhelming.

Fans of The Profit are familiar with the 3P’s of business: People, Process and Product. Continue reading

Strategic Alliances Need Solid Foundations

Once you’ve decided what company you’re going to work with, it’s time to establish a good alliance foundation. In a strategic alliance two companies are coming together, yes. However,

  • Two groups of employees and senior level staff,
  • Two business models,
  • Two corporate cultures,
  • Two team management styles, and
  • Two brand identities

Continue reading

Avoid Making Business Alliances Vulnerable

Unlike many other partnerships found in life, business alliances are not the most natural thing to create. Human beings come together as friends, romantic partners, and co-workers, but businesses are often thought of as adversaries. Despite this general perspective, studies show business alliances often raise profits and generate other benefits for both partners. The only problem is many of these alliances fail.

The Facts About Alliance Failure

Entrepreneurs may be alarmed to learn about the high failure rate of business alliances. Continue reading

How Business Alliances Help Startups Succeed

“8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn.” According to Entrepreneur there is only one thing you need to succeed as a startup, so don’t panic. “Your startup can still succeed. But it will depend on one thing and one thing only. Customers.”

However, developing your product, bringing it to market, finding customers, and keeping Continue reading

Deming Management and Business Alliances: Quality and Efficiency

As those familiar with W. Edwards Deming know, Business Alliances are the most important part of supply chain management. For those not familiar with Deming, he was an American economist who rebuilt post-war Japan and came back to the United States in the 1980s to address why Japanese manufacturing had beaten American manufacturing. Total quality control is his most well-known ideas, but one of his 14 points addresses the need to develop strategic partnerships with suppliers.

In Out of The Crisis, he points out that Japanese companies learned early that “the best  Continue reading

3 Steps to Vetting Alliance Partners

Alliance Partners bring unique strengths to your business. Each partnership can bring support, innovation, resources, and intelligence to your business. With so much on the line, how do you decide who is your best alliance partner?

In any relationship, there is a vetting process which takes place before you commit to the relationship. Business alliances are no different than any other relationship in the vetting process. A young couple begins dating with discovery, exploration, testing, and more. Shouldn’t you be doing the same when you create an alliance?   Continue reading

Channels of Distribution Slowing You Down?

Channels of Distribution are key alliances a business can enter into. As pointed out by Shark Tank’s Kevin O’Leary on almost every episode, not getting distribution kills a company. Channels of Distribution move your product to potential customers.

For manufacturing companies, your distribution channels will be wholesalers and retailers Continue reading

Alliance Building in a Sharing Economy

Alliance development and management used to be simple. Find the group of potential allies you wanted, find where they meet, and get involved there. In the sharing economy, allies have become easier to find and encounter, but harder to know. With mega-gurus like Richard Branson, Elon Musk, and Daymond John taking to Twitter, Facebook, LinkedIn, and other social media sites, alliances bridge geographic and sociological boundaries. Linking and touching others has never been easier, but is that an alliance? Continue reading

Succeeding with Business Alliances

Why enter into a business alliance? The main motivations include cost reduction, the improvement of service or capture more customers. Here are 5 kinds of business alliances that business-oriented minds need to know about: Continue reading

Pitfalls and Benefits of Strategic Alliances

There’s an old saying that “two heads are better than one,” and it has never been truer than today. There are several benefits to connecting with another company in forming a strategic alliance, the corporate equivalent of putting two heads together.

Leverage knowledge and expertise from another company, without having to hire additional employees

Working together with another company in a formal strategic alliance provides your company access to additional experts, without having to hire them. Continue reading

Strategic Planning Must Include Important Strategic Alliances

A business’ growth to a higher level is often a perilous journey. From a start-up’s  first unsteady step into the business arena, through each acquisition and investment that follows, risks surround those bold enough to take on the challenges.

The foundation of the company is built on skills, capital, an idea and a vision. Often the starting team has some form of expertise in manufacturing, procurement, marketing, engineering or design. Continue reading

Strategic Alliances Embodies Five Characteristics

Alliances originate in every shape and size, and then evolve to meet the requirements of the partners. Strategic alliances are high-maintenance commitments towards particular purposes. Do not consider them to be spontaneous, nor short-term. Strategic alliances in the technology world start at 5-10 years. For the pharmaceutical world, the time from conception to market is very long and expensive. Therefore their strategic alliances exist closer 15-20 years. In my local community, the mayors of more than 25 communities created an alliance in the 1980’s to grow the whole community. The fruit of their efforts are now blossoming. Continue reading

Helpful Tips To Maintain Strategic Alliances

In the business world, strategic alliances are vital towards success, but only if they are well maintained. On-going maintenance is critical; otherwise you end up with an alliance that hurts you, your business ally and your customers. However, with four simple steps you create an alliance that produces optimal results. Continue reading