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Strategic Alliances

Strategic Alliances . Michael Stershic Executive Director Lehigh Valley CVB. What is a Strategic Alliance?. A formal or informal relationship with another organization that benefits both. Why Consider Them?. Resources Community Support Infrastructure Limitations Trends.

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Strategic Alliances

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  1. Strategic Alliances Michael Stershic Executive Director Lehigh Valley CVB

  2. What is a Strategic Alliance? • A formal or informal relationship with another organization that benefits both.

  3. Why Consider Them? • Resources • Community Support • Infrastructure Limitations • Trends

  4. Why Consider Them? • Resources • Need something • Can’t grow or expand • Existence may be threatened • Weak in certain areas

  5. Why Consider Them? • Community Support • Board Strength • Contributions or other investment coming in (or not) • Recruiting Volunteers • Attracting new members • Image

  6. Why Consider Them? • Infrastructure Limitations • Small staff spread too thin • Reporting and accountability requirements • Emerging needs/regulations

  7. Why Consider Them? • Trends • Many new nonprofits formed annually • Accountability structures • Technology • Stakeholder interest in efficiency • Funder preference • Emergence of niche business players

  8. How to get started • Assess • Explore • Define

  9. How to get started - 1 • Assess • Identify critical needs • Identify and research potential partners • Compare strengths with your needs • Intangibles

  10. How to get started – 2 • Explore • Potential partner organization(s) • Mutually acceptable goals • Cultural and Organizational compatibility • Deal breakers

  11. How to get started -3 • Define • A service vision • An alliance form • An implementation plan • Who does what and when • Who pays for what • Decision making procedures • Goals and outcomes for measurement

  12. Important Principles • Take your time • Build Trust • Communicate, communicate, communicate

  13. Components of a successful alliance • Support of Boards and CEO’s • Boards approve clearly articulated components in advance. • Multiple forms of communications – good and bad news

  14. Components of a successful alliance • Face to face contact • Flexibility • Shared successes • Exit strategy

  15. To put this in perspective… Think of these relationships as a courtship and a marriage

  16. Example from another industry • Developing an adult day care center

  17. Thank You! • Any Questions?

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