One plus one equals three is often used to define synergy. The benefit of additional output is essential for business relationships, but the math metaphor is too simple. Great strategic partnerships combine both culture and skill. However, the cultural component acts as an exponent! By having organizations contributing and aligning their attributes, positive outcomes accelerate. Furthermore, the outcomes tend to be sustainable.
When cultures align properly, both organizations are intentionally positioned to thrive. Individual contributors certainly benefit. But together, the organizations dramatically transform. Creating transformative relationships maximizes incremental value! As an added bonus, a strong cultural union facilitates a more enjoyable and profitable combination. The partnership and the customer both enormously benefit. So, how do we pull all of this together?
When cultures effectively align among organizations, the common term is that they get it. Cultures that align properly benefit from a common understanding. The “it” that they actually get is greater value! A typical example could feature two partnering organizations delivering complimentary, yet different, value to the same audience. One organization offers a life changing benefit. For example, who does not want to be healthier, or viewed in higher esteem? Meanwhile, the other organization contributes inherent trust because of the niche-driven service that they singularly provide. Once they partner together, the marketplace gets a greater benefit from an alliance that has already earned its trust!
Fundamentally, combining cultures and skill sets are designed to produce incremental value. From a business perspective, the combined skills reflect a simple mechanism. The union provides more resources to satisfy customers’ desires. In reality, because two organizations may have conflicting skill sets, blindly combining resources may not necessarily result in meeting the marketplace’s desires. On the other hand, properly combined resources reveal additional perspectives and opportunities yielding additional avenues to serve. By contributing coordinated skills, more resources, more solutions, and more opportunities to satisfy more desires emerge. Service providers and customers now can both win big!
For a Business Relationship Transformation to maximize its impact, the alliance must keep the target market firmly in their communal cross-hairs. The combination works because both parties are fixated on a common target and a common goal to satisfy multiple desires. The ultimate satisfaction of the target market must be clearly established at the beginning of the relationship. Consequently, both entities must stretch themselves with the specific goal of satisfying an enlarged marketplace. The reward for satisfying the marketplace is a more vibrant and valuable business. What profit-seeking enterprise does not want to team up with someone who can help reach that goal? But first, identify a partner with complimentary skills, cultural commonality and mutual commitment to serve their joint audience. Then, both parties must dedicate key attributes that focus on executing the creation of exponentially more value. Enjoy fortunes and lives transform!
By Glenn W Hunter
Managing Director of Mo Patton Sports
Thanks to Life Transformation 360 for advocating this business model.