The Olympic games mark a special time around our house. The specific sport that we choose to watch always seems to take a backseat to the stories about dreams, tenacity, and dedication that the athletes share. This past weekend saw the launch of the 2018 Winter Olympic Games in South Korea. As standard tradition, our family has watched with patriotic eyes as the athletes represent their sport and country.
The term “partner” is arguably one of the most overused words in business – similar to the word “strategic.” Many business leaders say they are looking for a new “partner.” However, what they mean to say is they are looking for a company that is willing to give them a “free ride.”
Strategic Partnership Plan
Companies are leveraging the power of strategic (B2B) partnerships at an exponential rate. According to the Journal of Accountancy, business leaders are increasing their quantity of B2B partnerships at a rate of 25% per year. This is a significant growth rate of partnerships being formed.
Profit growth! It is the ultimate and perpetual challenge of business. As each week passes our "modern day economy" becomes increasingly complex and competitive. It takes more than just great products and services to thrive in today's markets. Business leaders must constantly find and implement value-add elements to their solutions to stay relevant. The three approaches to achieve the value-add requirements are organic, acquisition, and partnering. In this blog we will focus on B2B partnerships and discuss some of the pros and cons to this pathway of profit growth.
Are you interested in growing more profits? Of course you are! The real question is, what is the best path to achieve growth? When we brake profit growth strategies down to the ground level there are three avenues that we can take. The approaches are organic, acquisition, and partnering. In this blog we will focus on the acquisition approach and discuss some of the pros and cons to this route.
Are you interested in growing profits? Of course you are! The real question is, what is the best path for you to take to achieve growth? When we "boil it down," there are three avenues that may take us to "profitville." The three approaches are: organic, acquisition, and partnering. In this blog we will focus on the organic approach and discuss some of the pros and cons to this route.
All business leaders want their company to "grow." Right? But we all know that profit growth doesn't happen by magic or by chance. Although there are several creative paths available for you to take, achieving growing profits always starts with a commitment of time, energy, and planning to make it happen. Are you committed?
At Fidelis One, we are frequently asked to provide a framework to consider potential avenues for profit growth. One of my favorite tools is the “6 Cs Framework." This tool provides you with six unique lenses to consider your best opportunities for business growth. The 6 Cs elements are: competitors, customers, complements, capabilities, concepts, and capacities. In this blog, we will discuss how the topic of new concepts can lead to profit growth.