I am a big fan of being intentional about building relationships because you are going to need them to be successful in any environment. It is better to start building them now so you have them before you need them.
— Carla Harris, Vice Chairman, Managing Director and Senior Client Advisor at Morgan Stanley
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Strategic partnership: What, why, and how

Strategic partnership is why we exist. Every smart executive is looking for stores of untapped potential in their companies, ways to use what you already have to create greater success. But actually, those stores of untapped potential reside not inside your company, but in partnership with your strongest allies.

If that's true, why doesn't everyone create strategic partnerships? 

It's time consuming. Vetting potential partners and identifying the ones worth pursuing is a full-time job.

It's difficult. How do you know which companies might be matches for you? It takes experience. 

It's hard to measure. Many companies prefer transactions simply because it's easier to measure. It takes vision to see the possibilities in partnerships.

The nature of partnership is that it develops and delivers over time. That makes it hard to measure. It also makes it infinitely more valuable than a single transaction. 

At VerticalXchange, partnership is our focus.

We study it, and so not only can we help you create strategic partnerships, but we can also use our expertise to help you maintain successful ones and measure that success.

Over the years, we’ve learned a thing or two, and one of those things is that a lot of people think they have partnerships in place, but actually, they could be achieving so much more.

 

Do you have strategic partnerships?