YTKO business analyst & advisor, Chloë Teale, outlines the importance of a structured approach to business relationships.

1. Collaboration: YTKO business analyst
& advisor Chloë Teale,
stresses the importance of
Five Phases to Success a structured approach to
business relationships
Following the right path This phase also establishes who drives
the process forward. The initiative may have
In October’s issue we discussed why come from one company but the leadership
businesses should consider collabora- and management of the collaboration may
tion and categorised them into three need to come from one of the other mem-
broad areas – co-development, co- bers or even an external facilitator.
production and co-distribution.
Phase Three: Formation
However, collaboration requires not only • The collaboration agreement: roles,
development of the project, but also focus, responsibilities and accountabilities
time and commitment from each partner. • Confidentiality agreements
• Allocation of intellectual property rights
This month, we’re
looking at the life cycle “Using a simple five-stage The first ele-
of a collaboration and ment is essential
the importance of adher- approach ensures a greater as it binds and
ing to some form of clarity and understanding.” commits the
structure as part of the team, with com-
process. Using a simple five-stage approach mon aims and objectives. Once agreement
ensures a greater clarity and understand- is reached and resources are allocated, the
ing for all parties involved. project can then go ahead.
Phase One: Attraction Additional legal agreements may be
• What are the opportunities? required, depending on the scope and
• What financial return do you expect nature of the project. It is also recom-
to get? mended that performance measures are
• What are the risks involved and can these put in place to assess the ongoing success
be minimised through a partnership? or otherwise of the project.
• What is your attitude to collaboration
and what is the attitude of your Phase Four: Implementation
organisation? • The hub of the collaboration
Collaboration is not necessarily the cor- This is where the work of the previous
rect response to solving problems or oppor- three phases really pays off. Whilst in this
tunities that can arise in any business. The operational phase, however, it remains Tel: 01872 613000
first phase of the process therefore enables essential that the sharing of information Web: www.partnertosucceed.co.uk
companies to assess whether collaboration and resolution of problems is on-going and
really is an option they should consider. the levels of commitment maintained.
Answering these questions in a struc- Phase Five: Evaluation:
tured way helps guide the decisions on • The effectiveness of the collaboration
taking collaboration further. process
• The quality and coherence of the
Phase Two: Identification partnership
• What do you want to do and who do • The effectiveness of the project
you want to do it with?
It is good practice to continuously review
This stage identifies suitable partners the performance of any project. This is vital
and match-makes opportunities against as the level of resources and costs increases
individual expertise and capabilities. with each phase and it is essential to deter-
mine the overall effectiveness of the project.
It’s also important to identify any addi-
tional factors to ensure success or reduce Partner to Succeed helps businesses
any risk of failure. If the project does need through these five phases, from initial con-
further expertise, the collaboration can then cept to final evaluation, offering experience,
decide to develop this internally or seek an guidance and support. In future editions,
additional partner. we will look into each Phase in more detail.
20 Business Clinic www.businesscornwall.co.uk Business Cornwall Magazine - November 2009