Power Thought of the Week with Patricia Parham, Ph.D.
B2B Powerful Alliances
As your business and another contemplate working together, formalize the relationship. Clarify what your business will give and receive in what time-frames, with dollar amounts to ensure that each company is receiving equivalent value in the exchange. Due diligence requires that both businesses and individuals be checked out for fiscal responsibility and quality of work before entering into an alliance. Short-term arrangements and small contracts make for good trial runs. Include cancellation clauses. Handshakes are necessary, but insufficient to confirm agreements. Signed and dated written contracts are key to successful B2B alliances!
Patricia A. Parham
Parham Enterprises
http://www.parhament.com/
For more information, please visit Patricia's TNNWC Bio.
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