To create strategic alliances, avoid these blunders
Here are a few common traps that can kill a strategic alliance:
1️⃣ Trying to project future value based on nothing. How confident are you about those numbers?
2️⃣ No skin in the game. They don’t have any modeling. It’s a partnership on paper only (POPO) with no actual commitment.
3️⃣ They move from business case to “modeling” and then go straight to contracting INSTEAD of a Term Sheet.
Not all alliances are equal. Read more about creating strategic alliances here.
Unlikely book recs
Today's book rec is from Sydney Braithwaite.
One of my favorite books I keep rereading is The Art of Choosing by Sheena Iyengar. It includes a ton of interesting scientific research conducted about human decision-making and positions the information in a way that is entertaining and inspiring.
I found this book in 2010, around the time it was first published – I likely stumbled on the author from her TED talk or her episode on Hidden Brain (great podcast, highly recommend).
This is a book I keep rereading anytime I'm about to make a big decision. I first read it when I was considering transferring schools, then when I was changing jobs, and even when I was in the midst of ending a serious relationship.
Making big life decisions is tough, and it's incredibly comforting to me to read about, in a more scientific manner, what factors influence decisions, what consequences come out of those decisions, and how one can go about making better decisions in the future.
At the end of the day, business is about people, especially in the interconnected world of partnerships. In my personal experience, the more I try to understand and remain curious about people and their behaviors, the better I can position myself as a valuable team member.
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