Do you know that partnership is a necessity for any business? Consider as the engine that will get your business off the ground, it gives it a new face and adapts to each business according to its needs. Let’s go to the discovery of this major element that brings businesses back to life.
What is a partnership?
According to the dictionary, the partnerships is said of an association of different stakeholders who, while maintaining their autonomy, agree to pool their efforts in order to achieve a common objective.
It, therefore, brings together several types of associations or often two companies that want to achieve the same objectives. There is the horizontal partnership, and there is the vertical partnership.
The first is between two companies of identical size. It consists of bringing together a few resources with a view to either winning a new market or promoting one’s business.
The second describes a client-supplier relationship that is strengthen and becomes what is call a “satellite partnership” or even a franchisor-franchisee relationship.
The different forms of partnership within companies
Different forms of partnerships can be made between companies. It is :
- The joint venture: In this case, there is a merger of two companies which will lead to the creation of a new company. Another option is the absorption of one company by another and this, through the acquisition of a stake.
- The co-marketing operation: Also call co-production or co-branding, it allows to capitalize on the respective brand images and this, reciprocally. This practice makes it possible to unite to be stronger in a given market. Each company retains its independence in this case.
- Partnership in the form of a license: It is the commercial exploitation of a product of one company in the territory where the company is base while the other company receives dividends on the sales.
- Franchise: It goes beyond the partnership. It implies a transfer not only of products but also of dressing, and any other know-how. But the SME loses much more autonomy in this case.
Why develop a partnership and how to maintain it?
The first objective of forming a partnership is to increase the turnover of the companies concern. It also enables operating costs to reduce.
The weak points of each company can be manage by the more competent services of the Zebra partner in Pakistan. During a partnership, an exchange of know-how takes place and this is important for young SMEs.
One thing is to create a partnership, to keep it alive is another. The success of a partnership depends on the company itself. How do you get there?
The secret lies in the mobilization of employees within the company through internal communication. This allows synergy with the services of the partner company.
It should note that the partnership must go beyond the collaboration of the marketing departments but must transmit within the entire company to assure success.
The criteria to find an ideal partner for your business
It is useful to forge partnerships, but it is also necessary that the partner is the right one for your business. It is recommend that the size of the partner company be similar to yours.
When the vision is the same for partners, we move forward better. Thus, companies must have similar values and culture. The first step is to study its network of customers , then its suppliers and then its competitors. And for all studies of this nature, Industrad Groupis a master in the field for your greatest satisfaction.
You can therefore contact the marketing department of the target company or even do a prospecting via the internet or telephone . Advice, participate in trade fairs and forums in your field to develop your network and forge good partnerships.