3
Setup
2
Partnership Search and Negotiation
1
Alliance Strategy
4
Ongoing Management
and Intervention
5
Exit Preparation
and Support
2
Partnership Search and Negotiation
Call out the most important strategic objectives you want to achieve via the prospective joint venture.
Define what you expect from your future partners.
Outline the scope of the deal.
Develop alliance rationale.
Decide on alliance type.
1
Alliance Strategy
Define elimination criteria to narrow the field of prospective partners—focusing on the greatest obstacles to success, such as alignment on business objectives or operating model.
Apply prioritization analysis to create a short list of possible partners.
Screen final candidates, assessing each for strategic and cultural fit.
Build chemistry and trust among partners.
With your selected partner, clarify the venture's business strategy and confirm its scope and partners' precise contributions.
Decide on decision-making mechanisms and board structure.
Determine how you'll approach HR and talent management.
Select mechanisms for protecting intellectual property.
Identify collaboration models for key joint venture functions.
Set up pragmatic escalation processes to
solve strategic and operational disputes.
Begin to craft a strategy for exit, based on regular feedback and evaluations of the portfolio.
3
Setup
Watch for signs of conflicting interests between parnters (such as misalignment on objectives, strategy, and operations).
Dedicate managerial time and attention
to adressing challenges arising from
colliding interests.
Continuously measure performance, focus
on delivering value to all partners, and plan
to respond to eventual changes.
4
Ongoing Management and Intervention
Decide on a mechanism for implementing the exit strategy. If the venture will continue, define options to buy or sell, bid mechanisms, and third-party-related rights; if the venture is to be dissolved, determine whether assets will be sold to investors or split between partners.
5
Exit Preparation and Support