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March 23, 2012

Value of strategic partnerships

Posted by Paul Gottsegen (View Profile | View All Posts) at 9:35 AM

If you are a golf fan, there's no way you wouldn't know Tom Watson. But, you may not know his long-time caddy Bruce Edwards who was on his bag for 37 PGA tour victories. Have you ever noticed that champion golfers always seem to have the most well-respected caddies? This is no coincidence. Golf pros who treat this partnership strategically set themselves up to reach their potential and beyond. The key is having strong criteria for what to look for. With a caddy it would be great preparation, managing the player's psychology, and technical expertise on what shot to hit.

What does your company look for in a strategic partnership - one that will help you accelerate your growth beyond what you thought possible? I believe that the core criteria you should seek are:

1.    Partner's organization is tightly aligned with your business objectives of growth, return-on-assets and differentiation.
2.    Partner has the depth and breadth of solutions in their portfolio, so you can design solutions for what you need, not steered to what they offer.
3.    Even with #2, partner needs a strong ecosystem to bring in complementary expertise. They should track all of the various options available that you can leverage.
4.    A co-creation partner. Meaning they are able to take the vast amount of industry and technical capability to craft a custom-fit solution - their advanced technology is easily consumable by your organization.

We believe in this so strongly, we organized our entire company around building long term strategic partnerships with our clients. This is why our clients grow faster than the market.

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