Alliances: 5 sure-fire ways to form strategic alliances that work.

Whether your business is small or large, developing strategic alliances - either domestically or internationally - can be a very effective and low-cost way for generating business growth. But many such partnerships either don't get off the ground or fail because entrepreneurs lack a solid framework.

Global networking expert, author and speaker Robyn Henderson has used a partnering strategy as the cornerstone of her business since founding it in 1992. She shares her insider tips on how to make strategic alliances work for you:

1. Select your partners carefully.

   * Look for peers and even competitors who are like-minded, with similar values and ethics. Trust is key.

   * Find something in the alliance for both of you, so it's a win-win situation. For example, your potential partner may have valuable contacts but lack the product knowledge you have.

2. Be clear on your desired outcome.

   * Identify the kind of alliance you envisage working for you both.

   * Calculate the amount of time you can genuinely commit to the project, who will do what when, and other commitments that could affect your financial situation.

   * Determine fears you may have about the business relationship and how much you can afford to invest and lose, should your alliance fail.

3. Never assume anything.

   * Clarify everything. What is obvious to you may be as clear as mud to your partner.

   * Keep good records. Take notes or have minutes of meetings recorded.

   * Agree to and document all action to be taken.

4. Set specific timelines.

   * Set trial timeframes to get an idea of your partner's management style, attention to detail and true...