Partner or Strategic Business Alliance? Photo by Giorgio Montersino.
Partner or a strategic alliance — which is better for business growth? Many business owners want a “partner” to share the load. Partners exert a lot of control no matter how little of the business they own. Use a strategic alliance instead to grow your business and keep more control.
What is a Strategic Alliance?
The most accepted definition of a strategic alliance is that it’s “a formal or informal agreement between two or more individuals or entities to achieve a common goal”.
In 2005, companies reported that 18% of their revenue was generated through strategic alliances. The economy has changed but there are still thousands of alliances formed each year.
I agree with Winston Churchill. “If we are together, nothing is impossible. If we are divided all will fail.” [Read more…]