From the course: Strategic Partnerships

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How many partners do you need?

How many partners do you need?

From the course: Strategic Partnerships

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How many partners do you need?

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- When you're thinking about why you need a partner, you also need to figure out how many partners you need. For most purposes one partner will not be enough. You may need a whole ecosystem of partners. If so, you'll need to think about this ahead of time so that the partnership you set up don't conflict and instead reinforce each other. There are two main reasons why you may need many partners. The first reason is that your business has several parts. Each of which might benefit from a partnership. You may need supplies from different sources or you may want to sell into different markets. Usually you won't find one partner that can cover all the bases. That is why Star Alliance has almost 30 member airlines. Each in a different part of the world. A central committee manages this network as a whole. This group not only decides when to add a new partner, but also helps members work together for the good of the team. Multiple partners are also common on the suppliers side of a…

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