I had been working on multiple partnership and joint-venture in past 2 months and I would like to share my view on partnerships.
We are entering a new age of frictionless business, business have to keep adding value in a dynamic world, organizations must harness the power of microservice trends, trading in their old silos for vibrant, thriving ecosystems.
These are revolutionary times. The way we add value is changing at the conceptual level. Innovative technology-based products and services are changing the way we work and live, while businesses are driving unparalleled societal change. Technology is accelerating, disrupting traditional business models. The digital revolution is increasing connectivity worldwide and creating new opportunities in every industry, and that’s all happening today.
Can you imagine what tomorrow will bring?
This dizzying pace of progress is not lost on consumers, either. Their expectations are evolving, becoming liquid. Delightful customer experiences in one industry now set the standard by which all others are judged. If Booking.com can do it, if Apple can do it, why should they accept any less elsewhere?
In this dynamic, technology-driven future, the burden of delivering memorable, industry-defining value propositions can be a heavy one, indeed. Which is all the more reason not to bear it alone.
Innovative Ecosystems Breed Exciting Opportunities
As consumer needs evolve and innovative technologies disrupt traditional value chains, these strategic partnerships will become an essential ingredient in maintaining your organization’s competitive edge.
To see just how much potential a robust ecosystem can unlock, one need only look at Amazon Alexa. Consumers interact with the Echo, which gives them the ability to order products, access information, play music and operate smart home hardware, among other things. But the real magic happens behind the scenes. Amazon has set up its cloud-based voice service to facilitate collaboration with a wide range of partners, encouraging developers to build Alexa-enabled products.
This example paints a clear picture of the future. In the old world, siloed application architecture was the norm. Sharing and scaling followed tightly controlled paths. In the New, partnerships are key to survival. Weaving the unique strengths of those partners into a common value chain requires modular, accessible architecture: an open environment that facilitates connections instead of limiting them.
You Don’t Have to Grow It Alone
We still have a romanticized view of the lone explorer, going where nobody has gone before through the singular force of will and ingenuity. In business, however, that outlook has become a liability. A needless limitation of your potential. Soloing the entire value chain isn’t a heroic journey – it’s a road to obsolescence.
In an increasingly dynamic and digital world, one where innovation and disruption feed off each other constantly, no single organization can deliver all the value. Doing what you do best is only half of the solution.
The partners that will help you corner new markets are already out there, working on their piece of the puzzle. All you need to do is identify your own strength and join forces.