 Have you developed a good appreciation of your potential partners motivations?
You need to understand what drives your partner because it will ensure you are investing in the right relationship, which could be long-term. Build a dialogue with them to understand their aspirations and explore joint objectives and outcomes. It's important that both businesses complement each other and that your partnership will work either to jointly achieve outcomes, or so you work together to offer something better to customers. If expectations are in conflict or poorly defined, then the partners are likely to be disappointed, or the collaboration may not work effectively. There is never a perfect match or fit so determine the overall level of risk for working with the partner and look towards how that may be mitigated.
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Are you clear about your partner selection criteria?
