Without labeling it as such, you have probably already formed a strategic alliance. For example, you’re hosting Thanksgiving and rather than doing all the cooking, decorations, etc. by yourself, you partner with other friends and family. Aunt Martha will bring her stuffing. Your sister, not the world’s best cook, is bringing wine. In short, each person will bring to the table her specific expertise so that the whole is greater than the parts.

Forming partnerships or alliances to achieve common goals is an excellent and frequently overlooked tool. While obviously not applicable to every situation, we can often join forces and increase desired results. For example, you want to exhibit your product at a trade show, convention or exhibition. The cost of buying space on your own is prohibitive. You reach out to another vendor who has a complimentary, but not competitive, product. More specifically, if you are a corporate coach you might share space with someone who provides contact management software.

On a larger scale, strategic alliances lead to partnerships, mergers and acquisitions. The advantages include economy of scale, access to resources and increased market share. However, before entering into a new relationship, you must consider possible obstacles like questions of control, the personalities of key players and diverse cultures.

The important factor is to think “out of the box” and consider whether there is an individual or entity that you can work with to achieve mutually beneficial results. As women, we are too often reluctant to venture out of our safety zone and seek out potential, new relationships.

Please share your alliances: laura@realwomenwin.com