Hammer Out an Airtight Deal Structure

Partnering for Profits: New Book to Consider

Strategic Alliances: Three Ways to Make Them Work by Steve Steinhilber

From Harvard Business Publishing, publication Date: Nov 3, 2008

Link for purchase: http://harvardbusinessonline.hbsp.harvard.edu/b01/en/common/item_detail.jhtml;jsessionid=QXC04XAEHDHR0AKRGWDSELQBKE0YIISW?id=2588&referral=2342

Excerpted: “At Cisco, I manage a portfolio of alliances that crosses multiple industry sectors, technologies, and geographies, with a cumulative value of more than $4.5 billion annually in business impact to Cisco and much more than that to our alliance partners. Strategic alliances are woven into the very fabric of our company and the way we see ourselves in the world—from Chairman and CEO John Chambers on down.

You’ll see a similar picture at other alliance-savvy companies, like IBM, Eli Lilly, and Procter & Gamble—partnerships are a central part of their core strategy. If alliances are not viewed as an integral part of your strategy, then you’re working with both hands tied behind your back. You might have a few short term successes, but long term, make no mistake: you will probably fail.

Let’s assume that you have a strategy in which alliances do make sense for your company at one or more levels of your value chain. If that’s the case, you need to construct and manage each alliance as a business. Your job is to bring the right framework, the right organization, and the right relationships together and to move the project forward. Your approach needs to look at the big picture rather than short-term payoffs. “Winning” and beating the other company in negotiations may doom the relationship from the beginning. One of the biggest mistakes you can make is thinking that alliances are all about hammering out an airtight deal structure, negotiating hard, and planning for every eventuality. We had one partner whose CEO said he measured a partnership’s success “in the number of POs [purchase orders] that get written”—in other words, how much business his company generated from us. That company is no longer a partner.”

You can read more about my perspective on the fine points of alliance development at http://www.Rigsbee.com/morearticles.htm (Permission to reprint my articles is also there.)

Executive Presentation Skills: Audience Engagement

For several months now, I have been on the editorial committee for Speaker Magazine. My job has been to author a monthly column where I interview people that book professional speakers. A point that frequently is made by these people is that they want a speaker that will ENGAGE their meeting attendees.

Earlier this month, I attended a meeting planner site familiarization trip in Breckenridge, Colorado. After the second day of skiing, rather than to join the “hot tub” group I joined the “bar” group. The entertainers, Swing Crew, a two-piece local group did an amazing job of ENGAGING their audience by bring some folks on stage and enrolling some at their tables. For this group, tips were high following their set. And the important lesson was about engaging an audience through participation. I do not think I have ever seen bar entertainers do such a masterful job of including their audience.

In an hour talk, might you be able to have two or three audience interactions? Not just asking everyone to hold up their hand or to repeat after you, but real interactions? Give it a try.

Executive Public Speakers, Professional Speakers, and Emerging Professional Speakers; please visit http://www.SucceedInSpeaking.com for additional ideas, assistance, and resources.

Trade Association & Professional Society Executives: Fall Meeting Cost Busters

For executives at small to mid-sized associations, two important cost saving ideas for your fall meetings:

1. If you still have not signed a contract, look at higher end hotels for your meeting. Yes, you heard me right. As the corporations are scrambling to change the “location/venue perception” of their coming meetings (moving to Marriott & Hilton), the higher end properties have been hit the hardest. As such, they currently seem the most willing to negotiate.

2. For your speakers, you might be inclined to find someone local or a college professor? This might not be the best financial/benefit ratio strategy? They just might not be that good. A better strategy might be to engage a more experienced “content expert” speaker that offers a wide range of services; keynote, workshops, industry discussion facilitation, emcee, on-site consultation with members, etc. One fee, one hotel room, and one travel expense might prove to be more cost effective than a host of “f-r-e-e” industry speakers covering their travel and lodging? With only one paid speaker from the outside, you still get the prestige of bringing in an expert but at a better cost/benefit ratio. Many experienced speakers will fit this description and offer a single-price package.

Association Executives may access association growth articles and member recruitment campaign information at http://www.GrowingYourAssociation.com

Alliance Best Practices

Partnering for Profits: Takeaways, Best Practices & Implications

At the recent Silicon Valley Chief Alliance Officer Roundtable hosted by Cisco at their facility in San Jose, CA on January 14, 2009; they discussed alliance takeaways, best practices & implications. There were seven key highlights of these trends and best practices.

(#4 of 7) Portfolio Evaluation Criteria Adapts as New Partner Models Emerge:

• Develop a working partner portfolio model that reflects long-term priorities, but incorporates risk management for near-term objectives.

• “One Size Fits All” partner criteria don’t work well.

• When re-evaluating partnerships, ask the tough questions and be honest.

• Innovate and invest in the partner model with your key partners during the downturn.

I believe that the important value to be received here is that of recognizing that alliance relationships might have to change in this current economic environment. You need to examine both your short-term and long-term alliance strategy. Be care though of putting too much focus in short term revenue generating alliances “to help you through” at the cost of keeping long-term alliances strong that will yield you greater profits when the economic recovery arrives.

You can read more about the fine points in my several alliance articles at http://www.Rigsbee.com/morearticles.htm (Permission to reprint is also there.)

Executive Presentation Skills: How Powerful Is Your Close?

The members of your audience most likely will remember your opening if it is powerful and the same for your close. Ross Shafer shared his formula at the annual convention of the National Speakers Association: Open with “B” material, do your “C” material, then close with your “A” stuff. Not a bad formula, would you agree?

And, what about that close—consider the following:

1. Stop talking long before your audience is done listening.

2. Go out with a huge bang; story, video, or disappearing act.

3. Give your audience some action to take immediately, or upon returning to home or office.

4. Give the attendees something insightful, emotionally penetrating, or inspirational to remember.

Executive Public Speakers, Professional Speakers, and Emerging Professional Speakers; please visit http://www.SucceedInSpeaking.com for additional ideas, assistance, and resources.

Trade Association & Professional Society Executives: Keep Your Exhibitors

On the cover of the March issue of M&C Magazine is Galen Poss, president of Hanley Wood Exhibitions. There is a very timely story about how he and others are dealing with large conference exhibitors that are pulling out of this year’s expos. Also, read about how Robin Preston at National School Boards Association kept a technology supplier engaged when they had planned on pulling out of this year’s meetings. By the way as an FYI, M&C will soon be offering web-only content, so it might be a good idea to bookmark their Web Site and visit frequently: http://www.mcmag.com/

My Question: are your exhibitors simply using the tight economy as an excuse to pull out when the real issue is most likely little perceived value in exhibiting? If so, how are you re-engineering your meetings to offer more value to suppliers, exhibitors, and sponsors?

Association Executives may access association growth articles and member recruitment campaign information at http://www.GrowingYourAssociation.com