From the course: Business Development Foundations: Alliances & Partnerships
Join today to access over 23,200 courses taught by industry experts.
Identify emerging risks in a partnership
From the course: Business Development Foundations: Alliances & Partnerships
Identify emerging risks in a partnership
- I want you to be successful in making this deal happen and building a strong alliance. So in this video I'm going to show you a whole bunch of things that can go wrong, that way you'll be able to identify emerging problems before it's too late to fix them. If you and your partner have differing long-term objectives or incompatible strategic visions, that's a red flag and maybe a signal not to go any deeper. This is true even if your short-term goals seem to align well. For example, if your focus is to reach as many customers as possible and theirs is to maximize profit margin, you may be at odds regarding setting a price now or down the road. Make sure that there's a balance of power. It doesn't mean that you need to split the risk and reward 50/50. It's actually rarely the case that the risks and rewards are evenly split. But make sure both sides have some benefit and some skin in the game. If you have no…
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.