Successful Business Plans

Lesson 4: Who Is In Charge?

Strategic Partnerships

There are many ways to reach the top of an oak tree. 1) Start climbing. 2) Sit on an acorn. 3) Make friends with a big bird. This section is a list of your big birds. You specify what relationships you have formed with whom in what industry, how the relationship is beneficial to you, and how you are contributing to your strategic partner.

Also mention any joint marketing,development or third party agreements you will be involved with. Be specific: What company? How is this beneficial to all parties involved? What is required of your company? How does this involvement impact your finances, operations, strategy, and other resources?

Investors and lenders want to see that you not only generate goodwill in your industry, but also that your management team is resourceful enough to enroll others in its success without reinventing the wheel.

Last but not least, do not forget about your staff. Discuss additional staffing requirements based on needed talents in management, marketing, sales, customer relations, administration, manufacturing, skilled labor, field service technicians, etc.

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