We are beginning to wrap up the Executive track for Season 5. The topic of sticking to the knitting and outsourcing the rest has been addressed in the Finance, Operations, and Customer tracks. The conclusion belongs here.
If you are going to 'idiot proof' your business from stupid bureaucrats, the one - two punch is building a network based business model and outsourcing to those alliances functions you shouldn't do.
WHAT DO YOU NEED TO KNOW
Think about the concept of an Open Source Corporation as the context to Your Alliance Strategy. There are 4 main opportunities that make this element crucial to outsourcing non core functions.
Business Model Development – one of the most neglected aspects of building a successful company is the conscious decision of the right business model. The core question is - “how do we make a profit” and that answer drives which model(s) fit our purpose, systems, and processes. We will not address the entire topic here, our focus is on creating profitable deals, finding compatible partners, or building alliances as part of how you do business. The quickest way to fail is to cobble an ill conceived, reactive approach to this critical element of market dominance.
Quick Capacity – how quickly will all parties see an increase in capacity – the ability to do more business? An increase in productivity? An decrease in costs? The smart move for company's under $10m in revenue is to look for other organizations where quick wins are possible. This doesn't mean quick judgments. Taking the time to pick the right deals, partners, alliances is essential. However, once you have the opportunity, the results need to come forth quickly. Find a client, an opportunity and take action. You will only know if the choice was right once action is taken. Remember in all things “fail fast”!
Generating Revenue - how quickly can we build something that will achieve results? Larger organizations have the luxury of time, small business do not. Patience is a fine quality and most relationships require time to nurture – BUT – this is business. Set an aggressive target for results and ensure your side of the deal is focused on tangible results. If it doesn't happen by the first deadline, evaluate why and make corrections. If you miss a second deadline – rethink the relationship. Here are the 2 strikes and your out approach.
Rules of the Road – quick rules to apply to your search for deals, partnerships, and alliances:
WHAT DO YOU NEED TO DO
"The World of Business at Your Fingertips"
new choice for BUSINESS SEARCH
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