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Choose a business that meets or surpasses your quality standards.
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Make certain the trust level between your businesses is high.
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Team up with a company that’s already successful. Don’t try to build from scratch in a business you don’t understand.
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Make sure that the cultures of the two organizations are similar and that you establish a pattern of open, frequent communication.
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Get your agreement in writing. A strategic alliance is as serious as a business partnership, so it demands a contract.
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Find a company that can handle the extra business and grow with you.
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Take your time. Kostin, Ruffkess took four years before they found the right company to partner with for investment advisory services.
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Have a champion of the alliance in each company to keep the alliance visible and help celebrate the successes.
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When problems crop up, and they will, sit down immediately to solve them.
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Be willing to say no to the deal if you have questions about future success.
