Forming an alliance with a business partner

[Mahnoor]

It’s a remarkable paradox: Studies show that the number of corporate alliances increases by some 25% a year and that those alliances account for nearly a third of many companies’ revenue and value—yet the failure rate for alliances hovers between 60% and 70%. And despite an abundance of advice on how to make alliances work, that dismal record hasn’t improved in the past decade.

 

[Akinwale701]

It is popularly believed that the sky is wide enough for all birds to fly without having a fight. However, people don't emulate this idea in their day-to-day interactions.

Many people think "this is also my business, why should I put someone else through it?"

Many people will receive this kind of help and will not be willing to help others.

I have personally experienced this in a negative way in my business.

Can you share your thoughts on this?

I see nothing bad in forming an alliance with your business partner, after all for you to have him as your partner in business, there just exist som level of mutual trust between the two of you, or do you do business with a person who's a total stranger to you?

 

[MarieArie]

I see nothing bad in forming an alliance with your business partner, after all for you to have him as your partner in business, there just exist som level of mutual trust between the two of you, or do you do business with a person who's a total stranger to you?

 

[Olubayo12]

It is popularly believed that the sky is wide enough for all birds to fly without having a fight. However, people don't emulate this idea in their day-to-day interactions.

Many people think "this is also my business, why should I put someone else through it?"

Many people will receive this kind of help and will not be willing to help others.

I have personally experienced this in a negative way in my business.

Can you share your thoughts on this?

If the said business partner is your long time friend and business partner, the best thing is to form an alliance with you to Forster the relationship between the two of you, this has to be based on trust and nothing but trust. You will surely enjoy it

 

[MarieArie]

I see nothing bad in forming an alliance with your business partner, after all for you to have him as your partner in business, there just exist som level of mutual trust between the two of you, or do you do business with a person who's a total stranger to you?

Exactly. Also, the alliance between you and your business partner can be premises on legal backings. You don't necessarily have to form an alliance for only you to benefit or because of the benefits you receive alone. The two parties involved must be at the receiving end

 

[Kamon c4]

The reason why most people don’t like sharing their business ideas with others is the fear of competition. To some extent I understand them but this doesn’t justify the fact that they’re selfish and greedy. Partnership in business is the best way to venture into a business. There will be a shared capital and responsibility unlike sole proprietorship.

 

[Niolaxx]

You don't just form alliance with a business partner instead you form alliance with a trusted business partner,though this usually happens when there is no enough funding for the business, forming an alliance is actually good but if it is done with the right person,trust is one of the most important factor in a business

 

[Anas Chaudhary]

A partnership company is formed when the parties agree to distribute the profits or losses of the business proportionately. ... An alliance is formed when the alliance agrees to cooperate without giving up its independent status.

 

[Shigobad20201]

It is popularly believed that the sky is wide enough for all birds to fly without having a fight. However, people don't emulate this idea in their day-to-day interactions.

Many people think "this is also my business, why should I put someone else through it?"

Many people will receive this kind of help and will not be willing to help others.

I have personally experienced this in a negative way in my business.

Can you share your thoughts on this?

it is good to form an alliance and share business strategy with a business partner, there are people that will still hide some things for you pretending they have taught you everything, imagine learning a trade from someone but you decided not to teach your business partners simply because you don't want him to know what you know.

 

[Jomarie05]

It’s significant to identify that having a partnership end doesn’t mean failure. It can end very effectively because it has attained its objective. The key is to make sure you have the competences and tracking instruments in place so you can regulate as a partnership evolves.

 

[Akinwale701]

Exactly. Also, the alliance between you and your business partner can be premises on legal backings. You don't necessarily have to form an alliance for only you to benefit or because of the benefits you receive alone. The two parties involved must be at the receiving end

Yes, business aliances must be backed up by law in the terms of writing so that there would be no form of complaining in the future should anything go wrong in the course of the business? Legal backings are very important in the conduct of any business.

 

[Kelvin7656]

Alliances contribute to the growth of their members because they can offer a wider range of services to customers and clients. For example, two businesses may manufacture products that complement each other. By forming an alliance, they can market both products as a combination deal, leading to better sales for both.

 

[IamDozzy]

It is popularly believed that the sky is wide enough for all birds to fly without having a fight. However, people don't emulate this idea in their day-to-day interactions.

Many people think "this is also my business, why should I put someone else through it?"

Many people will receive this kind of help and will not be willing to help others.

I have personally experienced this in a negative way in my business.

Can you share your thoughts on this?

Forming an alliance with a business partner is best when you know that the potential business partner is competent enough to handle the business incase you are absent due to an unforseen circumstance. Business partnership is an encouraging form of business because with that you would be able to pool your resources together on order to come out strong in the market.

 

[adazeez1995]

It happens alot. Alot of people are afraid to teach other the principles of success so that they won't be more successful than them. It doesn't really matter to. So long as the individual is question is industrious, hard-working and ready to learn. I would happily guide him through all what he needs to know about the business of interest. Afterall, someone else taught me.

 

[kayode10]

It is popularly believed that the sky is wide enough for all birds to fly without having a fight. However, people don't emulate this idea in their day-to-day interactions.

Many people think "this is also my business, why should I put someone else through it?"

Many people will receive this kind of help and will not be willing to help others.

I have personally experienced this in a negative way in my business.

Can you share your thoughts on this?

Everything boils down to perspective. It'll be very hard to form an alliance with someone who doesn't share the same perspective or vision as you. If both of you go into business together there's a possibility that in a short time the business will collapse. so that's why it is good to go in alliance with a like mind as you.

 

[Neta Sam(Samuel Odunlade)]

Forming alliance with a partner is good if it's for the good of the business. But before joining any alliance count your cost will it benefit you your organization or your business, is the partner trust worthy, also don't forget to carry along a legal practitioner to avoid any fraudulent act by the so called partner.
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Forming alliance with a partner is good if it's for the good of the business. But before joining any alliance count your cost will it benefit you your organization or your business, is the partner trust worthy, also don't forget to carry along a legal practitioner to avoid any fraudulent act by the so called partner.

 

[mubinadaddy]

In this 21st century forming an alliance with a competitor is the best thing todo why because the market is too wide and large to accept both big and small businesses. And both will flourish in their own ways.

 

[Chumzy]

It is important that you have a good understanding and relation with your partner. If you guys can actually stick together and make thing work and progress. If there is no understanding and cohesion then one should actually work together.

 

[abubakar3141]

Business partnerships do not have legal status. It's a straightforward business between two or more people who want to work together. The only legal requirement is that the partnership be registered with HMRC and that each partner register for self-assessment and complete a separate tax return.

 

[adeniji]

Now a days, been working or running businesses together as become one if the factors that make business grow up on time and forming aliens with business partner will definitely rundown business partnership through out the world.