“Partnerships are a waste of time.”
It’s hard to find a CEO who doesn’t regret having pulled the trigger on at least one failed partnership. While strategic relationships hold the promise of growth, they are potentially dangerous. At the least, a failed partnership derails resources that could drive organic growth; at its worst, it delays entry into new markets and wreaks havoc with revenue plans.
On the other hand, many companies have leveraged well-executed partnerships that accelerate growth, leading to levels of success otherwise impossible. The best are what I term “self-fueling”: A self-fueling partnership is structured so that positive results for the first party drives it to act in ways that increase positive results for the second party, and vice versa.