Strategic Partnerships That Soar

Is there anything you've learned from a less than perfect partnership?

"Yes, we pulled out of a deal at the last minute, right before our launch. The reason: we weren't fully aligned on goals, execution, plans, etc.

We identified an organization that had a channel to reach our market. In the partnership development, the deal made strategic sense for both of us. That said, it was clear once we moved into implementation, the other company wasn't as aligned internally as it needed to be -- it lacked the support and resources necessary for the partnership to proceed smoothly. The lesson here, we hadn't spent enough time together to really understand each other's goals and to build the level of trust required to move ahead.

Rather than rush it, we all agreed to hold off for a while. We are planning to revisit the opportunity in the near future and see if we can spend the necessary time together to work through all of the issues and get to a place where we can make this deal a huge home run for both parties."

Reality #4

Social networking is a fast moving space. Unexpected things will happen. Expectations may sound the same in planning conversations, but can hugely differ in the real world of execution.

Solution

When this happens, partners need to be flexible enough to not trash the original investment of time and the goal of working together to move all parties forward. Whether you are a pure start-up like Oddpodz or better resource-fueled like Cafemom, partnership outcomes must be aligned and accountable deliverables clarified in a written agreement.

Strategic partners can play a tremendous role in aiding a social network, a business and a brand grow. Think creatively, honor your brand essence, and understand all parties' goals.

Dream, focus, stay resilient, have fun, do what you love and make things happen! And of course, Brand On!