Small Business Today Magazine JAN 2015 AIM GLOBAL LOGISTICS | Page 20

EDITORIALFEATURE

Collaborations, Partnering, and Joint-Venturing…

Priority for Business Success                    
By Hank Moore, Corporate Strategist™

T

he biggest source of growth and increased
opportunities in today’s business climate is in
the way that individuals and companies work
together.  It is becoming increasingly rare to
find an individual or organization that has not yet
been required to team with others.  Lone rangers
and sole-source providers simply cannot succeed
in competitive environments and global economies.  Those who take advantage of collaborations,
partnering, or joint venturing will log the biggest
successes in business years ahead.

To determine which cooperative effort is best
for your business, let’s examine the differences:

Collaboration 

Collaboration is where parties willingly cooperate
and work jointly together, especially in an intellectual pursuit.  Collaboration is also the cooperation
with an instrumentality in which one is not immediately connected.  Here are some examples of
Collaborations:
• Parties and consultants involved in taking a company public work together as a team.
• Niche specialists collectively conduct a research
study or performance review.
• Company turnaround situation requires a
multi-disciplinary approach.
• A group of consultants offer their collective talents to clients on a contract basis.
• The client is opening new locations in new communities and asks its consultants to formulate a
plan of action and oversee operating aspects.
• Professional societies and associations.
• Teams of health care professionals, as found in
clinics and hospitals.
• Composers and lyricists to write songs.
• Artists of different media creating festivals, shows,
and museums.
• Advocate groups for causes.
• Communities rallying around certain causes
(crime, education, drug abuse, literacy, youth activities, etc.).
• Libraries and other repositories of information
and knowledge.
18 SMALL BUSINESS TODAY MAGAZINE [ JANUARY 2015 ]

Partnering

Partnering is a formal relationship between two
or more associates.  It involves close cooperation
among parties with each having specified joint
rights and responsibilities.  Here are some examples of Partnering:
• Noncompeting disciplines create a new
mousetrap based upon their unique talents
and collectively pursue new marketplace opportunities.
• Widget manufacturing companies team with
retail management experts to open a string of
widget stores.
• A formal rollup or corporation to provide fullscope professional service to customers.
• Non-profit organizations banning resources
for programs or fund-raising.
• Institutions providing startup or expansion
capital.
• Managing mergers, acquisitions and divestitures.
• Procurement and purchasing capacities.
• Corporations worki