1. HOWDY Partner ! By Raymond H Fien

2. Re cap on last month Strategic Alliance Partners
So what is a Strategic Partner?
A strategic partner is another business with whom you enter into an agreement that aims to help both of you achieve more success.

3. Business Owners SOLO
One of the biggest mistakes business owners make is trying to do everything alone. 
You will usually have a smaller impact on
the market if any?
Costs are much higher to market?
Losing client due to not enough
BIG value.
End up exhausted and no passion.

4. Benefiting from partnerships
If you’re not benefiting from strategic partnerships, take some time to think about how you can develop ones that enable new ways to build, service, support, add value, expansive marketing, share clientele and run your business.
Developing strategic partnerships can take your business up a notch and allow you to compete with businesses much larger than yours.

5. Building Strategic Partnerships
The first step to building a strategic partnership is to identify which other businesses that could help you achieve key goals (e.g., get more customers/clients, more impact into the market, lower fulfilment costs, etc.) and/or otherwise give you competitive advantage.
Example:
PT = Gym = Health = Fashion = Personal Growth
Decide on 3 businesses that you feel could be alliances with you to co-promote straight away and approach them.

6. The Alliance Partner
Identify the Need: Conduct a strategic need of your market sectors and target audiences to determine which affiliates would make the best partners to add massive value in skills, products or a service and clientel to your business.
You are looking for a complementary partnership. You need to understand how the alliance fits into your business plan, so be clear with yourself why you're entering into it and what you expect to gain.

7. Evaluate Potential Partners
You must feel comfortable with the strategies and tactics of any company you’re considering an alliance with. Find out about the business' key strengths, market position and – if possible – financial status.
Key Q’s
How are decisions made?
How controlling is management of its employees?
At what pace does the owner work?
How competitive or aggressive is the company?
How financially stable are they?

8. Contractual Agreements
Base this on the fact that you are both building the contract of terms and conditions together for a dual and win win success. It doesn't need to be complex but it does need to be precise in the responsibilities, the remuneration and the processes.

9. Establish Joint Objective and Goals
Developing key objectives and goals that reflect what both parties expect to gain from the alliance is critical. Be sure that expectations are realistic in light of the resources both parties are willing to put forth, and make adjustments as needed.
** Note - Nothing sours an alliance faster than the notion that one party is giving everything while the other is getting a free ride. Strategic alliances have to foster an environment in which both parties gain something; otherwise, they're not partnerships. WIN – WIN

10. Define Roles and Responsibilities
Assess each company's strengths, and define responsibilities accordingly – especially in the area of management and reporting. Many alliances fail because of poor management relationships, so document clearly what's expected.
Be specific: decide how many people will be involved in the alliance from each business and what their specific roles will be. Each party has to dedicate resources to the relationship, and both parties need someone within their organisation who will champion the cause.
**Note - consider all the accounting, tax and legal ramifications of the alliance

11. Develop a Good Communications Process
Clear communication is key to creating an enduring partnership. Disappointments and misunderstandings can be avoided by establishing an effective process for working with your partner.
The relationship must be developed to the point where both parties can be honest when evaluating progress and offering recommendations for improvement – both of which should be done on a regular basis.

12. Be Patient
Strategic alliances take time to develop and maintain. When you're starting out, don't make judgments about potential partners as well as the Marketing to the clientele. You will need Patience to reap the rewards. Figure out how to stand out from the crowd.

13. Build on Trust: 
Strategic alliances are built on trust, dedication and mutual interests. They require effort to build. Once they're in place, however, you can count on them. Let the abundance begin!!!

14. Raymond H Fien. Business Strategist & Coach Sales & Marketing Personal Mentor wwwfiensalesandmarketing.com.au