November 5, 2017
Don’t partner up with anyone until you ask yourself these 10 questions. Strategic alliances: They’re great when used effectively to expand the range of your product or service offerings; they’re not so great when you collect them like Manolo Blahnik shoes, merely because, well, everyone else has them. “Strategic alliance” is a chic but vague term people use to refer to a spectrum of business relationships. At one end, you have referral relationships–getting and giving client leads. Toward the other end, you have joint ventures, where two companies form a separate entity for a specific purpose or discrete project. And then, in the fuzzy middle, lie strategic alliances that bring two or more parties together contractually, like in preferred trading partner arrangements. In this type of strategic alliance, the companies remain financially and structurally independent but commit to using the other regularly–sometimes exclusively–for particular kinds of projects or work. A marketing strategy consultancy might align itself with a graphic design firm. Each can function happily on its own and isn’t a competitor; but in partnership…
Continue ReadingReady to chase your dreams of being an entrepreneur? Yes, I mean you. Why not you? Listen in to this lively and informative interview of Robert Tuchman, author of YOUNG GUNS: The Fearless Entrepreneur’s Guide…
Read MoreNow is a great time to reevaluate whether the business entity you’ve chosen for your company still meets your needs. What may have worked at the beginning may now leave you exposed. You may have…
Read MoreNot that I’m a big follower of the Kardashian sisters, but it always amazes me what people will stoop to for fame. Take Khloe Kardashian’s shotgun wedding to L.A. Lakers basketball player Lamar Odom. Apparently,…
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