A growing international business needs new
staff and lots of them.
It needs to have
tried-and-tested suppliers to provide the products and services that it can’t
deliver itself and it needs them fast.
And it needs strategic partners to help extend its geographic reach and to
build a network of customers that will deliver on the business plan.
What these three categories have in common
is that every growing business is reliant on people and partners to deliver its
growth plans.
For start-ups and developing businesses, having
the right team around us is critical to our growth success and it’s definitely not the
time to cut corners.
As managers it is likely that we are busier
than our peers of 10 or 20 years ago and the speed at which we are required to
make important business decisions is accelerating. When we are working in start-ups, this pressure can be ten-fold.
However busy we are, it is essential is
that we appoint any new relationships with care whether they are our
staff, suppliers or strategic partners. This is because our own success is ultimately reliant on the
partners that we choose to represent us.
Our partners success is our success and their failure is ours to own.
It’s tempting, but we should never make our
decisions based solely on the candidate that we know well or is closest to
hand. In the rush to start-up and grow
our businesses we often quickly grab our former colleagues and partners as a short cut to establishing a new team.
Remember that we don't achieve something different for our business simply by replicating an old model so it’s important that our new partnership appointments are still given due-diligence and tested against alternatives in the market.
Remember that we don't achieve something different for our business simply by replicating an old model so it’s important that our new partnership appointments are still given due-diligence and tested against alternatives in the market.
No
decision is a valid decision until it can be compared against alternatives. A choice of one is not a choice at all.
It's always wise to properly review alternatives as the sanity test to your preferred partnership choice and it's is time worth investing as it provides clarity, validates your final decision and supports your position for any future conflict. Most importantly, you develop a balanced approach as you are
forced to consider the negatives as well as the positives of your preferred partnership choice.
The pressures of
establishing and growing your business are tremendous but be careful not to blindly choose old partners for
your new business development.
Be open minded to change.
When we take the time to fully review and make informed decisions on our business partners there’s every chance that growth will come stronger and faster than if we select solely from our inner circle.
Be open minded to change.
When we take the time to fully review and make informed decisions on our business partners there’s every chance that growth will come stronger and faster than if we select solely from our inner circle.
The Advisory Partnership supports broadcast media and advertising businesses with their strategic and operational expansion into new markets.
Post by James Douglas
No comments:
Post a Comment