Why Most Strategic Alliances Are Doomed From The Start (And What To Do Instead)


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By Adam King. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

In part 6 of my mini series on Strategic Alliances, I'm going to show you how to avoid the mistakes most make when setting up Strategic Alliances and at the end show you a bunch of examples of how to avoid them.

Because the truth is most potential strategic partnerships are doomed from the start.

I don’t mean to be negative, but it’s true.

Just think how many people you’ve had a “coffee date” with after meeting them at a networking event where you both agree it makes sense to refer business each other's way.

How many referrals and leads came from this? I’m going to guess at not many.

Maybe you got a few, but nowhere near the level of benefit and growth potential that there could have been for both of you.

This happens because neither side took the initiative to make partnering an attractive proposition. One that’s easy to say yes to and has clear benefits and expectations for both parties.

Simply reaching out and asking if they know anyone they could refer you to isn’t going to work very well...

You need to get a little more creative than this if you’re going to get engagement and buy in from any potential partner.

Armed with this knowledge, and the strategic foresight to understand the HUGE upside to partnerships, it’s not the wisest decision to leave things up to chance.

YOU have to be the leader here.

The key to getting someone interested in partnering with you, is to present it as an opportunity that gets THEM excited about partnering with you by offering specific ideas for how you can support each other.

These individual ideas eventually combine to form your Strategic Alliance Programme.

This Is How You’ll Stand Out

Don’t do what most people who try (and fail) to build a Strategic Alliance Programme by making the other person do the work or try to figure things out. People are too busy for that when they don’t know you.

So come up with ideas that are easy for them to say yes to.

And if you want some to start you off, listen to the episode!

Because when these partnerships develop, inbound referrals and leads become more consistent and opportunities close faster.

When you take a well structured and strategic approach to partnering, you go from being a nice idea your partners “might” get around to helping some day, to an irresistible “Business Growth Partner” they can’t stop raving about.

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