Introducing a New Partner to Broaden the Solution

How do you enhance your solution and move up the Sales Value Chain when you have exhausted what your company has to offer? One answer is to partner with another company; together, you can strengthen or broaden your solution. This is usually a possibility when you can work with niche players who complement your solution. However, you will have to take responsibility for the complete solution in order to make this work.

Operationally, the process is one of entering into an agreement in principle with the partner, usually in the form of a memorandum of understanding (MOU). You’ll then have to determine the probable nature of this relationship; will they be subordinate, an equal partner, or should you form a joint venture? Whatever the arrangement, the key is to buy time, move up on the Sales Value Chain, and align with the Power Base in order to change the ground rules.