Force Multiplication Through Partnering

Quick Summary: Developing mutually beneficial partnerships is essential to businesses of every size.

Abstract:

It is hard to argue with the concept of “you cannot do it alone.”  Most of us need to rely on others to help us with everything from common daily tasks through solving complex problems.  The engagement of others can be thought of us partnering with the goal of working together to address or complete a task.  Every business needs to work with others to some degree on another to survive and grow.  Selecting the right partner and developing a mutually beneficial relationship takes careful thought, planning, and execution. 

Attached to this article is a PowerPoint™ presentation with the same name as this article.  Each slide contains slide notes that use the standard PowerPoint Note capability.  A separate PDF document that contains a composite copy of all of the Notes is also available.  Registered users can download both files.

Paraphrased from the Introductory article in this chapter:

“What will become apparent when viewing this presentation is that the author has minimal artistic ability!  Hopefully, the user can get past the “visual impairment” of the slides and focus on the content.  The presentation is not a “sales” or “investor” slide show, intended to “sell” the subject.  Instead, it was created as an educational slide deck. As such, the “presentation rules” of lots of pretty pictures, 40-point font, and ten words per slide were not followed – not by a long-shot!”

The Force Multiplication portion of the title of this article and the presentation is a concept used by the military.  It refers to the use of a combination of resources to accomplish a goal that may not be attainable without the involvement of others.  In the context of this article and presentation, it means the use or engagement of other companies or organizations to help the company achieve its business goals.  Although the advantages of engaging partners apply to all aspects of a business, this material is focused on distribution partners who can help with or, perhaps, take over total control of the distribution to customers of the company’s offering.  This approach can significantly help companies speed up their market presence.  It is even applicable to single entrepreneurs that personally provide a product or service.

A trap that many entrepreneurs fall into is thinking that the available cash to fund their startup is their most limiting factor.  As such, they typically take on many tasks such as website development, bookkeeping, marketing, and prospecting, that could easily be outsourced to someone else.  An entrepreneur’s most precious resources is their time.  Once an hour is spent on a task, that one hour can never be recouped.  Similarly, larger companies often feel that vertical integration and doing things “in-house” is the best approach to minimize costs.  Unfortunately, many of those tasks required expertise that is better found in outside firms that are entirely focused on that activity.  The days of total vertical integration are gone.  With the Internet’s incredible market efficiency, the notions that “someone makes everything” and “someone else can do things better than you” should be taken seriously.  Partnering is the key to scalability.

Business partnering is so important that there are twenty-five separate articles in this collection on the subject.  This presentation is a standalone tutorial summary of those articles.

The files attached to this article are:

Force Multiplication Through Partnering.pptx

Force Multiplication Through Partnering Presentation Notes.pdf

 

Article Number : 8.040502   

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