In this Alliance fireside chat Anoop Nathwani and I talk about the alliance launch moment in which we distinguish the 3 most important elements for a successful alliance launch:
- Having all stakeholders on board
- Ensuring a proper launch / kickoff meeting
- Building an 100 day plan for the alliance.
Alliance Launch – Video transcript:
Anoop: Well, Peter, we’re back again for another fireside chat today.
Peter: Yes we are number 11 This time.
Anoop: Absolutely, absolutely. So, this time around Peter you know, we’ve been through a number of topics in which we talk about alliances, but an important one here so you, we create an alliance we have, we create the governance, etc We create the value proposition etc., then we come to launching the Alliance. Now, tell us a bit more about what are the kinds of things that we need to be looking at in terms of an alliance launch.
Peter: Oh, that’s a good question Anoop, because indeed when we talk about Alliance preparation we spend a lot of time during our masterclasses about alliance preparation and the preparation includes partner selection, it includes negotiation, it includes preparation for the Alliance, but it’s really preparing it is really laying the foundation for the Alliance launch because the launch is an pivotal moment between preparation and actually running the Alliance. And when I look at Alliance launch there are a couple of elements that I would highlight. So one is you need to make sure that you have all your stakeholders on board, because otherwise it will be difficult to manage the Alliance successfully going forward. Secondly, you cannot all do it in one day, or one moment. Pre Corona, I would say, bring everyone together for an alliance launch meeting. Nowadays that might be a little bit difficult depending on the type of Alliance. In that case bring everyone together for a collaborative video call to really launch that Alliance, to kick off that alliance, set that moment to celebrate the fact that you are starting off in that Alliance together and create a 100 day plan so that you also know what needs to be done in the next, let’s say first three months of the alliance existence to bring it to a success. Because the alliance launch moment, the Alliance kickoff meeting is essential, but you cannot do it all at that moment. So those are the elements I will try to highlight when you talk to me about alliance launch.
Anoop: Okay. And that’s a good point Peter because I think a lot of people forget that when they get to the stage where the lions launch they say great, it’ll manage itself, whereas you and I both know it doesn’t manage itself you have to you have to you have to launch it you have to launch it together.
Peter: Yes, well as I wrote in my latest newsletter, alliances are created between organizations, but they’re brought to success by the people involved with it. So, no alliance will run itself. It’s hard work, what is I, I always joke to people who are new to alliances, congratulations you found the best job in the business. And I truly believe it’s the most wonderful job to be in.
Anoop: It’s like an acting CEO is that, yes. Great. Great. Good, good. That’s a good one, Peter. Thank you.