What are the most common mistakes when developing strategic partnerships with international partners?

If you fail to prepare, then you better prepare to fail. Depending on the industry you’re in - it’s expectable that some of what works well for you will translate internationally, the two big questions are: how much and which parts? It’s key to figure out things such as what is the presence of the partner in a given market, what is their operating model (fully owned subsidiary, joint venture, reseller model, etc.), what does the leadership structure look like, who makes the ultimate call, etc. There’re many things you cannot control in business, but being prepared is not one of them. Invest in studying publicly available information and find friendly contacts within the org that can fill in the blanks for you.

Common mistakes in international strategic partnerships include insufficient cultural understanding, misaligned goals, lack of clear communication, inadequate due diligence, ignoring legal and regulatory differences, and underestimating the importance of relationship-building and mutual trust. Addressing these aspects diligently enhances the chances of successful international collaborations.

A common mistake is to try and build a cookie cutter solution. This is something you naturally develop to streamline processes and to refine your approaches, which is great! But, there needs to be adaptability and attentiveness to new partnerships to avoid easily made mistakes. In recruitment, our adaptability to new client markets and regions is always developing. Rules, guidelines, and policies change, you need to be attentive to your partnership and avoid a small gap in information or process. This can easily cost you and your partner time and revenue. Pay close attention to each client across your pipeline, make sure you're present, and craft a solution - don't just sell a cookie cutter.

Effective communication is a critical component of successful international partnerships. When working with partners from different countries & cultures, it's essential to foster clear & efficient communication to build trust & ensure the success of your collaboration. Below are some strategies: 1) Understand cultural differences 2) Use clear & simple language: English may not be the first language for all partners. 3) Active listening 4) Set expectations: goals & timelines 5) Regular updates 6) Adapt to time zones 7) Make full use of the technology& open channels of communication 8) Set feedback & evaluation

Not understanding the culture of your international partner is potentially the greatest mistake you can make. Simple things like customs… Is it customary to give my partner a small gift or is giving someone a gift in this culture offensive? Will I insult my host if I do not eat the local fare or will this be seen as a sign of independence? Who makes the decision in this culture? Why when and how? Not understanding the subtle cues will kill more deals than they will make. Learn this lesson, now figure out the culture of your partner or suffer the consequences…

It’s critical you work with some in the country you want to entry to make sure you know all you need to know about the country’s selling and buying culture, rules and regulations around selling and product conformity and whst of any tests needed before you can sell!

Get help. Find someone in Country that you can work with that understands your partner that understands the constraints of your partners country. Invest in help in-country that is on your side. This isn’t just an investment, it’s an insurance policy that will ensure your deal succeeds!

Understand the WHY of your partner for getting into this partnership Often we project our objectives and motivations as the same for the partner in a different country. Due to cultural differences but also different approaches to longterm strategies and company development, the reason to enter into the partnership can be completely different like learning, protecting your IP or preparing the market entry for other products. This is not always explicitly expressed and you have to investigate to understand well your partner