Page 70 - Lighting Magazine February 2019

on the mark Partners
must establish – and agree on – clearly de ned, and preferably wri en, objectives.
to partner with. From the showroom perspective, here are a few fundamental questions that will aid in developing the alliances needed to thrive. (Source: Wikipedia)
What is the competitive advantage?
Having the correct strategic partner is essential in 2019 and beyond. It is necessary to have an intimate working relationship with all types of vendors to serve the ultimate end-user best. Evaluate the potential for future success based on past actions and transparency.
Is everyone aligned on speci cally detailed joint objectives?
Partners must establish – and agree on – clearly de ned, and preferably wri en, objectives. These intentions focus on the success of the partners to the bene t of the end-users. Based on the direction of the goal, metrics are developed for measuring the results to assure success. Knowing the speci cs of what each partner wants out of a strategic alliance delivers a solid understanding of the e ort each must spend to win.
Will this alliance drop associated costs or advance e ciencies?
With full digital transparency, the end-user knows almost everything about product pricing and availability. Within a true strategic partnership, direct operational overhead costs are reduced by adopting a narrow and deep vendor philosophy.
Can this potential partner provide balanced support in areas the showroom is de cient in? While today’s showrooms must be masters of many disciplines, in all honesty no one can master them all. Our potential partners must have skills or resources that complement essential areas of the business where support is needed.
fIndInG synerGIsTIc poWer
Strategic partnerships that are in sync are potent: Each member of the group is vested in the positive outcomes of the other. We once relied on positive partnerships to evolve, but this did not always happen in every case. Imagine if we only had the best of the best synergies to work with day in and day out? Everything would be smoother and more pro table for all.
Creating great partnerships can only occur
with a plan. Beyond the answers to the business questions, strategic partners that have similar core values are a critical a ribute. Working with partners who have the same principles as you will provide stable footing and the con dence to act on ideas.
Strategic strength becomes synergistic when partnerships are based on varying skill sets. Building a relationship is easy because we seek out rapport with people who are similar to us.
However, let me ask: Do you really need another you? When thinking strategically, nding people or vendors who complement existing strengths is ideal.
buILdInG buLLeTproof aLLIances
Designing an e ective strategic alliance requires an ongoing and calculated commitment to productive conversations. Having smooth, comfortable work-related exchanges are a must.
Schedule time to speak with all partners on a regular basis, usually once a week or every 10 days. These planned talks do not take the place of the necessary communication to get the day-to- day work done. These talks are a time to measure the e cacy of the plan that is being worked on and to introduce new ideas and information.
As you assess the results of various partnerships you’re involved with, ask yourself:
Have our mutual goals been met?
When gains only go one way, it is not a partnership.
Are the metrics being appropriately used for the goal?
An increase in sales is only one indicator to look for. When the partnership goal is to increase brand awareness or operational e ciencies, the way to measure success and the metrics used must be agreed upon by all involved.
When problems arise, and they will, is the conversation a contest of nger pointing or a strategy session for improvement? True partners don’t want to have issues with each other. The way to keep problems from festering is with result- focused teamwork.
With the increased need for showrooms to participate in an omni-channel model, it behooves all parties involved to create strategic partnerships. The work being done today will last for years to come; take time to build these critical synergies.
As Always Happy Selling.  www.enlightenmentmag.com
Mark Okun is Business Contributor to enLIGHTenment Magazine and President of Mark Okun Consulting & Performance Group. He has more than 30 years of hands- on retail experience training and coaching sales associates in the lighting and furniture industries. Mark@bravo businessmedia.com
66 enLIGHTenment Magazine | february 2019