Managing Strategic Partnerships

Managing Strategic Partnerships

All senior executives should have strategic partnership management skills.  What does this mean? Finding the right strategic partner is exactly the same as finding your co-founder or recruiting key hires. You’ll be working closely together, so it’s important to have a good connection. Don’t be afraid to trust your gut. If your instincts tell you that something isn’t right, even when everything looks good, it’s smart to be cautious. Establish clear objectives. Making sure all parties are on the same page greatly improves your chances of a good outcome. It also gives you benchmarks for measuring a project’s success. Understand what you want to get out of a partnership, and have a rock-solid grasp of your partner’s goals. This will make sure that everyone is aligned and has the same or complementary visions. Be honest about your own weaknesses and gaps. Trying to do too much at once is something we all experience, and it can be hard to let go. This is especially true when you’re passionate about your idea or product. But seeking partners who are experts in a particular area will free you up to focus on your core competencies. You’ll be able to focus on the critical activities that keep your business functioning. 

To discuss your senior leadership recruitment needs, please contact My Recruitment Agency.

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