Partnering in a down economy

Nortel, Circuit City, DHL, GM, Ford, etc..., are experiencing serious financial troubles to name a few. That being said, when considering who to partner with in these poor economic times, it's important to consider who they are, what their businesses are looking like and what trends are occurring in their industry or category. The last thing you want to do is affiliate to another brand that may be on a serious decline and ready to take you, your business and your customers with them in the wrong direction. It's more important than ever to not have all your eggs in one basket and select partners that will survive the uncertainty that will likely carry over through to 2010.

Some Tips....

1. Avoid longer term partnership agreements
2. Audit the prospective partners business and their industry (competitors)
3. Scrutinize their marketing channels, communications vehicles and plans for 2009
4. Ensure that their 'revised plans' can support and supplement your brand
5. Re-examine where the true opportunities for partnership exist