Reimagining Industry Growth

1Strategic Partnerships

Persistent Hard Times: The Mother of Strategic Partnerships

Just as necessity is the mother of invention, hard times may be the mother of strategic partnerships. Turbulent and uncertain times have always inspired people to search for new and innovative ways to endure and to triumph. Ordinary people sometimes rise to greatness in a crisis. We are capable of overcoming adversity and achieving lofty and heroic breakthroughs during moments of intense challenge. Some great business partnerships were created to weather tough times; sometimes those tough times are due to internal issues, sometimes external issues, sometimes uncontrollable circumstances, sometimes extraordinary opportunities, and occasionally in preparation to achieve the next breakthrough.

Defining Strategic Partnerships

It must be said up front that a strategic partnership does not guarantee success. Successful partnerships are not a given. In fact, a good and lasting strategic partnership is not unlike a good and lasting marriage. It requires shared vision, shared values, clear and honest communication, perseverance, and perhaps more than anything, commitment—unswerving commitment that breaks through the most difficult barriers. It is hard work.

It must also be said that strategic partnerships come in all shapes and sizes and textures and colors and flavors. Although there are general rules and organizing principles that provide the context and outlines, each one is—also like a marriage ...