Before approaching anyone.
WHAT TO ESTABLISH
What you are trying to achieve Whether partnership is the right route What alternatives exist
WHAT THE ALTERNATIVES USUALLY ARE
Building the capability yourself Buying it Hiring for it Simply purchasing the service
WHY THAT LAST OPTION DESERVES MENTION
Many partnerships would be better as a straightforward purchase.
WHAT PARTNERSHIP SUITS
Reaching customers someone else already has Capability that would take too long to build Situations where both parties gain from the other's success Markets you cannot enter alone
WHAT IT DOES NOT SUIT
Work you could simply pay for Capability central to your business Situations where only you benefit
WHY CORE CAPABILITY SHOULD NOT BE PARTNERED
Depending on someone else for what defines you is a permanent vulnerability.
WHAT TO ASSESS
What you give up What you become dependent on Whether you could exit
WHAT TO ESTABLISH
The cost of managing it.
WHY
Partnerships consume substantially more attention than expected.
WHAT TO BE HONEST ABOUT
Whether you have capacity to manage another relationship.
WHAT MOST PARTNERSHIPS ACTUALLY PRODUCE
Less than expected, later than expected.
WHY
Both parties have other priorities and neither controls the other.
WHAT TO ESTABLISH
Whether the arrangement would still be worth it at half the expected benefit.
WHY THAT TEST
It filters out arrangements justified only by optimistic projections.
