In this blog, and in the Businetiks system, we talk about focusing on your core competencies. To handle tasks outside our skill set, we rely on partners and suppliers. Choosing a partner goes beyond making sure they can do the job. Choosing the wrong partner can be fatal.
An example of this is Borders Book Stores. At one time, Borders was the largest book store chain in the United States. In the late 1990s, they made a mistake. Looking at what was needed, they knew they had no expertise in online sales. They looked for a partner that could handle online fulfillment and the design and implementation of an online store. They chose Amazon as a partner. The rest is history. Amazon took Borders online business and the company never recovered.
There’s more to a partnership than matching skills. You have to look at what the long-term goals of each partner is. The personalities of the people and the cultures of the organizations have to be taken into consideration. Make sure that you are compatible with your partner during the partnership and can trust them if the partnership ends.