Common Mistakes that can Ruin a Strategic Partnership

Shirin Salemnia is Founder & CEO of PlayWerks Inc. (www.play-werks.com). In this video she discusses common mistakes that can ruin a strategic partnership.

  1. Announcing a partnership before the deal is finalized
  2. Partnering with a company that has different goals
  3. Choosing a partner based on media perceptions

There’s a lot of common mistakes that can ruin strategic partnerships and it’s really important to follow this you know key points that I’m going to talk about ‘cause it’s really important to be true to yourself and your strategic partnership.

So the first big thing is you have to make sure that you don’t announce anything before it gets out to the public. Don’t do a press release. Don’t get anything out there until you’re sure that you’re aligned with your partner strategically and on the same page.

So you know get all the deals signed. Get everything together before you do a press release ‘cause you don’t want something to get out and people to start talking and when you’re not fully done and then it causes all this other things that you don’t need. So make sure to have you know your deal signed and done before you announce anything.

The next thing is you really have to partner with a company that has the same goals as you do. So partnering with a company that has different goals can ruin everything. You’re not going to be strategically aligned or synergistically aligned.

So make sure that you don’t do that. Make sure that you partner with a company that has you know the same goals that you do and the other thing is you can’t choose a partner based on other people’s and medias perceptions because it just doesn’t work.

You have to make sure that you’re aligned and connected to the strategic partners and it’s really key to being on the same page as they say because everyone has different perceptions and everybody’s going to throw in different things and they’ll take it and run with it basically.

So you have to be you know on the same page and really synergistically aligned and I can’t stress that enough. So make sure that you don’t make those common mistakes that can ruin a strategic partnership.