Partnering: The TSP Way
By Paul Reisner
Partnering is one of the most important management changes in business today, it is based on the principal “if your company could generate more revenue, reduce costs, then seeking business strategic business relationships would add value to your organization." “Partnering is an indispensable business direction for world-class companies, allowing them to improve their products and services, lower their costs, and enhance their flexibility.”
Top 10 Reasons Companies Partners
- Reduce and control operating costs
- Improve company focus
- Gain access to world-class capabilities
- Free internal resources for other purposes
- Resources are not available internally
- Accelerate reengineering benefits
- Function difficult to manage/out of control
- Make capital funds available
- Share risks
- Cash infusion
When to Partner?
Partners will add value with specific programs or campaigns. Partners are used by companies that are expanding into new territories, internationally or who are developing a sales team around a new product or sales approach. With the growth of the Internet and the number of virtual or networked companies, business process partners are an accepted and preferred practice.
When companies are in the start-up phase, or ready to expand to the next level of corporate growth, they need to focus their resources and attention on their core product or service and not on developing sales processes and hiring a sales team. By partnering key aspects of the business process, these companies can move at the speed of the Internet leveraging the core competency of the partner company that already has systems and processes in place. As an added benefit, these companies are getting the benefit of senior executives that they would not have been able to afford at their start-up stage. A real synergy begins to develop as you bring these talents together. This recipe for success is not limited to Internet start-ups; any new, small or even established business could derive tremendous benefit from Partnering.
Companies that are getting the biggest bang for their dollar are moving to Partners, where they are using strategic partners for their sales process. Frank Casale, executive director of the Outsourcing Institute, stated, “Business process outsourcing's real benefit is in the value it brings, and that's not necessarily cost savings. Things such as time to market and support may not necessarily show up on a balance sheet, but can be critical to a company's success.”
Most companies, currently Partner one or more of the marketing functions such as advertising or public relations or telemarketing. When adding partners, a company needs to focus on specific business processes rather than functions. A good example of a business process is the sales conversion process--moving qualified leads from identification to sold accounts. By partnering the entire process, the results are quantifiable and measurable, which leads to better management and enhanced results using the partner's world class capability in this area.
“Another added benefit of partnering includes delivering a dedicated focused organization to customers along with years of management experience, proven processes and industry contacts, at a fix monthly expense, which allows companies to effectively manage their costs.”
If it is not your core competency, then seriously consider partners so you can focus your time and resources on your core company capabilities. It is extremely important that you find a partner provider that not only understands your market but has had years of experience in the same industry. Partners can be a very valuable asset to companies that are in high growth markets, changing their market direction or that need to expand to new geographies. TSP is the kind of company, with over 90 years of experience under its belt that you want to go with.Contact Paul Reisner today at 914.967.1797 for an immediate consultation free of charge.