Latest news with #partnerships
Entrepreneur
a day ago
- Business
- Entrepreneur
5 Lessons I Learned the Hard Way About Business Success
Opinions expressed by Entrepreneur contributors are their own. I've been through it all — companies that soared, companies that sank, deals that looked like gold and turned out to be sand and partnerships that either multiplied value or silently killed it. If there's one brutal truth I've learned after decades of building, buying, selling and sometimes burying companies, it's this: Relationships — not ideas, capital or even timing — are the ultimate determinant of success. It's a lesson that no spreadsheet will teach you and no pitch deck will fully convey. But it's the one thing every founder, CEO, investor and partner needs to internalize if they want to build something that lasts. Let me explain through five unfiltered truths I learned the hard way — some through exits, some through bankruptcies. Related: How to Build and Sustain Deep, Meaningful Business Relationships (and Why It's the Key to Long-Lasting Success) 1. Bad partnerships are more expensive than bad products A bad product can be fixed. A misaligned partner? That's a cancer in the system. I once co-founded a company with incredible potential — strong unit economics, great early adoption and even some early buzz in the media. But internally, the leadership team was fractured. One partner prioritized short-term revenue. Another obsessed over product perfection. And I, caught between the two, tried to play referee. Guess what happened? We burned cash arguing. We stalled decisions. Morale tanked. Ultimately, the company died — not because of the market, but because we couldn't get out of our own way. Looking back, I now ask this before every deal: Do I want to be in a foxhole with this person when things go wrong? If the answer isn't a hell yes, it's a no. 2. Bankruptcy is a leadership failure, not a market failure Yes, markets change. Yes, industries shift. But most of the bankruptcies I've seen — including my own — weren't because of the economy. They were because we made poor decisions, delayed hard conversations and ignored red flags. We had a company that seemed unstoppable — fast-growing, flush with investor interest and scaling quickly. But internally, management was siloed. Sales leadership was misaligned with operations. Decisions were made based on ego instead of data. We ignored tension because things were "good enough." Until they weren't. When it collapsed, it was easy to point fingers at external market conditions. But the truth? We failed ourselves. That experience forever changed the way I build. Now, every leadership meeting starts with alignment. If leadership isn't rowing in the same direction, I don't care how good the boat is — it's going nowhere. Related: Want Strong Business Relationships? Avoid These 3 Mistakes. 3. Buyers don't buy products — they buy people When I've successfully exited companies, there's a pattern that shows up every time: We were aligned with the buyer on values, vision and execution style. One of our best exits came not because we had the best tech, but because the acquiring team said, "We want to work with you guys." They knew we had strong relationships across departments, high employee retention and a culture of transparency. Deals get done when there's trust. Period. It doesn't matter how great your EBITDA is if the buyer doesn't believe in your leadership or your people. If you're preparing to exit, ask yourself: Would you buy this company if you didn't know the numbers, but just knew the people running it? If the answer is no, you've got work to do. 4. Decision-making is a muscle — train it or lose it Poor decision-making doesn't show up all at once. It's a slow erosion — a hundred little moments when you defer, delay or delegate decisions you should own. One business I led started slipping when we over-delegated key choices to mid-management without ensuring those managers were aligned with the company strategy. Over time, execution drifted. Product launches missed the mark. Marketing lost focus. And we didn't notice until revenue plateaued. Strong companies don't just have good leaders — they have good decision-making systems. Now, in every company I touch, we prioritize decision hygiene. Clear frameworks. Accountability. Retrospectives. You can't outsource judgment. You have to train it. Related: 8 Strategies for Building Long-Lasting Business Relationships 5. The exit isn't the end — it's the mirror When you sell a company, the terms of that exit reflect everything you did right — or wrong. Great exits happen when: You have strong internal processes Your financials are airtight Your leadership team is trusted Your reputation precedes you Bad exits — or worse, failed exits — happen when: You patched things together just for the data room Buyers smell desperation You can't clearly explain how the company runs without you I've lived both sides, and I'll tell you: Nothing haunts an entrepreneur more than realizing they killed a great business by not focusing on the fundamentals early enough. So, what's the takeaway? If I could give one piece of advice to any founder building a startup today, it's this: Invest in relationships before you invest in features. Build trust before you build scale. Fix your internal operating model before you chase more revenue. Money follows alignment. Buyers follow leadership. Teams follow purpose. And if you get those right, the next big thing might just follow you.
CNA
a day ago
- Business
- CNA
Singapore Defence Minister Chan Chun Sing meets regional counterparts at Shangri-La Dialogue
Singapore Defence Minister Chan Chun Sing met several regional and international counterparts at the Shangri-La Dialogue. They are among his first engagements in his new role. Southeast Asian defence ministers also had an informal meeting with US Defense Secretary Pete Hegseth on the sidelines of the defence gathering. Mr Hegseth said the US believes in practical cooperation and strong partnerships underpinned by shared values. Sabrina Ng reports.
Hospitality Net
a day ago
- Business
- Hospitality Net
Maximizing Hotel-Influencer Partnerships: A Marketing Director's Perspective
In today's digital landscape, influencer marketing has evolved from an experimental tactic to an essential strategy for hotels looking to reach engaged audiences. As a marketing director with years of experience in the hospitality industry, I've witnessed first-hand how the right influencer partnership can transform a property's online presence and drive meaningful bookings. However, not all collaborations yield equal results, and the difference often lies in the approach. The relationship between hotels and influencers has matured significantly over the past few years. What began as simple exchanges—a free night in exchange for a social media post—has developed into sophisticated partnerships with clear objectives, metrics, and creative direction. When I started, I was thrilled just to receive a complimentary stay in exchange for posts. But as my niche and audience grew, so did my value, approach, and expectations , reflects Ravi Roth of @raviroundtheworld, a prominent travel influencer focusing on luxury and LGBTQ+ perspectives. This evolution mirrors the broader influencer marketing landscape, where both sides now seek deeper and more authentic collaborations. For hotel marketing teams, understanding this shift is crucial for best results. Today's successful partnerships require more than transactional thinking—they demand strategic alignment, creative collaboration, and mutual respect. Identifying the Right Partners: Quality Over Quantity A common mistake many hotels make is fixating on follower counts rather than engagement quality. Large numbers might seem impressive, but they mean little if an influencer's audience isn't actively interested in travel experiences or doesn't match your target demographic. Ravi Roth emphasizes this point: When evaluating hotel partnership opportunities, I focus on three key elements. First, I look for clarity in what they're asking for and how it aligns with my expertise. Second, I assess brand alignment—whether their aesthetic, values, and mission resonate with mine. Finally, I consider the mutual benefit: Will this collaboration elevate both my brand and theirs? Lauren, who brings a unique dual perspective as both an influencer (@ and the founder of etc. PR, managing marketing for four Long Island hotels, takes a data-driven approach to partnerships. With one specific hotel I work with, which often handles wedding room blocks, we partner with local mommy and lifestyle influencers whose audiences match the hotel's target market , she explains. Her agency leverages AI tools to develop detailed customer personas and identify appropriate talent for each property, ensuring influencer audiences align with potential guests. This strategic alignment is essential—partnering with an influencer whose audience doesn't match your ideal guest profile wastes resources and dilutes your brand message. Once you've identified potential partners, how you approach them can make or break a collaboration before it begins. Many hotels falter at this crucial stage with generic, one-size-fits-all pitches. One of the biggest mistakes hotels make is not doing enough research , Roth points out. I focus on luxury and boutique hotels with an LGBTQ+ perspective. If a hotel reaches out from a destination where it's illegal to be LGBTQ+, how can I authentically promote that? A successful outreach should demonstrate that you understand the influencer's content style, audience, and values. Reference specific posts you've enjoyed, explain why their perspective would resonate with your property's story, and be clear about what you're offering and what you hope to achieve with your campaign. The days of expecting quality content in exchange for a free night is no longer the exclusive compensation structure, at least when working with established creators. Understanding how to structure fair compensation is essential for productive partnerships. Regarding compensation, Roth is clear: Content creation is my full-time job, so monetary compensation is essential. A complimentary stay might sound appealing, but it's still a huge amount of work and doesn't pay the bills." He notes that many of his hotel collaborations happen through tourism boards with built-in budgets, but when working directly with hotels, he prefers "long-term, evergreen partnerships where we align on goals, target audience, and creative strategy. However, compensation models vary depending on the market, influencer tier, and partnership scope. Lauren offers a different perspective from her experience with regional properties: While many Long Island influencers expect payment, we have also found success with complimentary stays and experiences , she explains. She emphasizes the importance of tracking influencer impact, typically implementing discount codes that allow hotels to monitor link clicks even when direct bookings aren't made. For smaller properties with limited budgets, Roth suggests: First, define what you're trying to promote and the value you want from a partnership. If your budget is tight, focus on micro-influencers with high engagement rather than large influencers with passive audiences . He recommends enhancing offers with non-monetary perks like spa treatments, dining experiences, or extended stays to make collaborations more appealing without increasing direct costs. Designing Memorable Experiences The most successful influencer partnerships transcend standard hotel stays to create memorable, content-worthy experiences. This approach benefits both parties—influencers get unique stories to share, while hotels showcase their best offerings through an authentic lens. Lauren prefers offering comprehensive experiences that include accommodations, dining, and spa services, though she notes they always request influencers to leave appropriate gratuity. This holistic approach provides influencers with diverse content opportunities and experiences while highlighting multiple revenue streams for the property. Citing CitizenM's Pride campaign as an exemplary partnership, Roth shares, Instead of a one-off collaboration, they approached it as a long-term partnership. They wanted me to host a Pride event on their rooftop, arranged a pre-event staycation in NYC so I could fully experience the property, and invited me to be a storyteller at their Seattle location. This evergreen approach was a game-changer, leading to high engagement, shares, saves, and new followers for both of us. When designing influencer experiences, consider: What makes your property unique? Which experiences and amenities align with the influencer's content style? How can you facilitate authentic moments rather than staged photo ops? What seasonal or limited-time offerings could add value? Prioritizing Authenticity Perhaps no factor is more crucial to successful influencer marketing than authenticity. Today's social media audiences are sophisticated—they can quickly identify forced endorsements and stock phrases. Authenticity is everything! Roth emphasizes. If I can't show up as my full, unfiltered self, the partnership won't work. My content thrives on big energy, zest for life, comedy, and luxury vibes. If a partnership doesn't allow me to integrate these elements naturally, the content won't resonate with my audience . Lauren echoes this sentiment from her dual perspective: As an influencer, it's important to be reasonable with requests , but values authenticity above all, noting that genuine engagement from private accounts often provides more value than comment pods or artificial interactions. As a hotel, facilitating authenticity means giving influencers creative freedom within brand guidelines rather than dictating every aspect of content creation. The most compelling influencer content emerges when creators can interpret your property through their unique lens. Measuring Partnership Success Without clear metrics, it's impossible to evaluate whether influencer partnerships are delivering return on investment. Both sides should agree on success metrics before collaboration begins. For measuring success, Roth focuses on specific engagement indicators: On Instagram, saves and shares are the most telling metrics—saves mean people are planning to visit in the future, while shares indicate immediate excitement and word-of-mouth marketing , he explains. Another key strategy is collaborative posting. If a hotel is investing in ads, why not post together to maximize reach? Lauren's approach incorporates tracking mechanisms: We typically implement discount codes that allow hotels to monitor link clicks even when direct bookings aren't made. This attribution helps hotels understand the customer journey from influencer content to eventual booking, even when the path isn't linear. When one respected influencer shares authentic content about a hotel, it often triggers interest from others in the community , Lauren observes. The real measure of success is when followers trust an influencer's recommendations enough to engage organically and ultimately book their own experiences . Building Long-Term Relationships The most valuable influencer partnerships aren't one-off collaborations but ongoing relationships that deepen over time. When an influencer repeatedly features your property, their audience develops familiarity and trust with your brand. Looking ahead, Roth predicts the industry will continue evolving toward hotels prioritizing micro-influencers with deeply engaged audiences over mega-influencers with nonactive followers. At the end of the day, if an influencer and a hotel don't create value together, it's a missed opportunity for both . From her experience managing hotel marketing, Lauren has seen how influencer relationships can mature: The real value often comes after the initial posts, when an influencer genuinely connects with a property and continues to mention it organically in future content. Conclusion: A Strategic Approach to Influencer Partnerships As we navigate the evolving landscape of hotel-influencer collaborations, it's clear that the most successful partnerships transcend transactional exchanges to become strategic alliances. By identifying the right partners, crafting thoughtful proposals, structuring fair compensation, designing memorable experiences, prioritizing authenticity, measuring results, and building long-term relationships, hotels can transform influencer marketing from a checkbox activity to a cornerstone of their digital strategy. The future belongs to hotels that view influencers not as mere promotional channels but as creative partners in storytelling and genuine brand building. By approaching these partnerships with intention and respect, hotels can harness the unique power of authentic, personal recommendations—still the most powerful form of marketing in our digital age. Reprinted from the Hotel Business Review with permission from View source
Forbes
2 days ago
- Business
- Forbes
2025 PGA Championship Signals What's Ahead For Tech Sports Partnerships
As the summer sports season heats up, technology companies are going beyond traditional sponsorships and leveraging high-profile sporting events to demonstrate their technical capabilities. Rather than merely paying a sponsorship fee and splashing the corporate logo around the venue, more tech providers are actually putting their know-how to work to help sporting events run better. It's a topic my colleagues and I have been covering for a while, and I got to observe it up close again this month with T-Mobile's involvement at the PGA Championship at the Quail Hollow course in North Carolina. The company deployed some of its most advanced 5G network technology to support both broadcast operations and fan experiences, which suggests how these partnerships can help tech companies position themselves with both businesses and consumers. Using T-Mobile and other companies I've studied as examples, let's dig into the implementation and impacts of these tech sports partnerships. (Note: T-Mobile is an advisory client of my firm, Moor Insights & Strategy.) To demonstrate the capabilities of its 5G solutions, T-Mobile has adopted a strategy in recent years of intentionally targeting challenging environments, and a major golf tournament like the PGA Championship definitely fits the bill. The business logic is clear: Live sporting events of this scale involve both complex behind-the-scenes functions, which are great for demonstrating technical chops, and prominent public-facing experiences, which are great for branding. In the case of an internationally televised live event that also welcomes tens of thousands of fans, a carrier like T-Mobile must coordinate connectivity for everything from back-office systems to broadcast infrastructure to ticketing operations to point-of-sale transactions. In the past, cellular networks were often considered insufficiently reliable or secure for these essential functions, but T-Mobile has a vested interest in changing that perception. Events that happen outdoors across a large area — golf tournaments, tennis majors, road races, and so on — present particular challenges. To appreciate the logistical impact of 5G at Quail Hollow, it's important to remember that a traditional (wired, not wireless) golf broadcast often requires laying miles of cable across 200-plus acres of terrain, including water hazards, bunkers and bridges, to enable the best camera shots. T-Mobile used its portable private 5G on Demand network and Standalone 5G architecture to help the tournament avoid such elaborate physical cabling; the high bandwidth and low latency of 5G enabled wireless cameras to transmit 4K video footage from all over the golf course and grounds. All of this gave the broadcast directors for CBS and ESPN more flexibility with the shots they used in their coverage. As with the AI-driven analytics that IBM supplies at The Masters and major tennis tournaments — more on that later — this is an instance where a partner can apply technology that transcends marketing and genuinely changes the way an event operates. Besides the benefits for broadcasters, photojournalists were able to use the private 5G network to upload high-resolution still images and video to newsrooms and digital platforms almost instantly. T-Mobile is positioning this latter capability as a potential future commercial offering for media and enterprise clients. Beyond these broadcast capabilities — and getting into the realm of experiential marketing — the more robust connectivity also enhanced the fan experience. On the course, T-Mobile customers received access to Club Magenta, an on-site lounge with amenities and special guests. Both on-site attendees and remote viewers benefited from features including 'T5G on 14,' which used augmented reality and AI-generated data to create real-time visualizations on the 14th hole. The PGA Championship app provided real-time shot analysis and highlight notifications, again making the most of T-Mobile's network infrastructure. All of this fits with T-Mobile's longer-term goal — and a broader industry trend — of providing richer fan experiences, as I pointed out in my coverage of the 2024 MLB All-Star Game. Given the focus on connectivity, it also reminds me in some ways of Qualcomm's ongoing partnership with Manchester United. For athletes and coaches, the T5G Range, also powered by the private 5G network, enabled the delivery of advanced analytics and live content. Multiple mobile cameras on the driving range provided up-close looks at warm-up routines, while coaches and expert commentators could access real-time data on ball speed, apex, curve and distance. This immediate feedback helps players adjust their performance and gives fans more insight into player technique. These features are integrated into the PGA Championship app and digital platforms, enabling fans to access live coaching insights, walk-and-talk interviews and live views from the T5G Range, whether they were on-site or watching remotely. As touched on above, T-Mobile's strategy is to use challenging, high-profile events to showcase its connectivity capabilities. In part this is because the company — despite having the largest 5G network in the United States — recognizes that it hasn't always been known for having cutting-edge solutions, and it wants to counteract any public perception that it isn't up to the task. As Grant Castle, senior vice president of systems realization at T-Mobile, told me, 'Before these events, we consult with our partners. We ask them what major problems we can solve on a large scale that will enhance the overall experience.' T-Mobile is moving forward with the clear idea that 5G should become the standard, not the exception, for powering everything from broadcast to back-office operations at major events and, by extension, across industries. The same 5G solutions used in major sports championships also support automation and real-time monitoring in manufacturing, continuous asset tracking in logistics and new checkout systems with real-time analytics in retail, to name just a few of the industry-specific applications. There are lots of other applications within sports as well. In high-speed racing, 5G's low latency isn't just about entertainment — it's a safety consideration. For example, at the Las Vegas Grand Prix, T-Mobile network slicing supported real-time telemetry for both pit crews and instant replay systems, allowing split-second decisions about cars traveling over 200 mph. At the United States Grand Prix scheduled for October in Austin, the Aston Martin Aramco Formula One Team will lean on its partnership with ServiceNow to help log, track and address incidents and service requests from anywhere on the track, with the aim of helping staff respond quickly to issues that could affect safety or operations. Technology companies recognize the value of live sports as a proving ground for their solutions. Both tech companies and sports organizations are now treating stadiums and event venues as high-tech hubs, integrating 5G, cloud and edge computing to support broadcast production, better connectivity, immersive fan experiences and more. For instance, Teradata has partnered with the L.A. Clippers to showcase its cloud analytics platform at the Intuit Dome, focusing on enhancing fan engagement and operations. Meanwhile, SAP has partnered with the 2025 Ryder Cup worldwide. This collaboration will use SAP's cloud-based software, including the SAP Customer Data Platform, SAP Emarsys Customer Engagement, SAP Datasphere and SAP Analytics Cloud, to unify fan data from multiple sources, personalize marketing content and provide AI-driven insights aimed at enhancing the fan experience both on-site and remotely. In some ways, these companies are following a path blazed by IBM, which has spent decades supporting marquee events including The Masters, Wimbledon and the US Open Tennis Championship. Sixty years ago, IBM was helping with timekeeping and recordkeeping at the Olympics. These days, it uses signature events to highlight its AI and data analytics capabilities, for example with its Slamtracker feature in the Wimbledon app, which I used last year to navigate the grounds of the All England Club and keep up with multiple matches at once. The investment must be worth it for IBM, considering how long it has been providing technology for high-level sporting events. So how's it going for T-Mobile? From my perspective, the 2025 PGA Championship effectively showcased 5G's performance in a demanding, large-scale public setting. I think that T-Mobile's willingness to take on a challenge like this under the scrutiny of a global audience is a good sign for both the company and the performance of 5G as a technology. These examples could also build confidence among enterprises in its B2B offerings. However, although such demonstrations are valuable for illustrating technological capabilities, the subsequent step requires T-Mobile — or any technology vendor — to build on event-specific successes. The longer-term challenge lies in translating public and more consumer-facing demonstrations into enterprise solutions that meet diverse operational needs across various sectors. For example, while I believe the advantages of 5G deployment at major events are evident, it's essential to consider the significant costs associated with deploying private 5G networks and to question whether this model is scalable or financially viable for smaller venues or less prominent events — or a given enterprise use. For stakeholders at customer companies, understanding the return on investment and the potential for adoption is critical to evaluating the long-term value of these solutions. And long-term uptake by these customers is in turn critical for tech companies evaluating the effectiveness of their investments in sports. I'll be keeping my eye on T-Mobile, IBM, Teradata, and the rest of these tech providers to see how effectively they perform in sports setting this year. And with upcoming events including Wimbledon, the US Open, The Ryder Cup and the United States Grand Prix, the summer of 2025 is shaping up as a real proving ground for enterprise technology.
CNA
2 days ago
- Business
- CNA
Collaborate to Innovate - Shared Ambitions, Greater Impact
01:38 Min Business leaders explain how shared goals and ambitions facilitate better understanding of challenges and solutioning amongst partners. Collaborate to Innovate About the show: Winners of the Singapore International Chamber of Commerce Awards share how collaboration has driven innovations—from AI-powered medical tools for the hearing-impaired to transforming a brownfield site into a zero-energy certified building. This panel discussion explores key takeaways from partnerships involving organisations such as Schneider Electric, Singapore Polytechnic, Kajima Corporation, SMT Technology, and FingerDance.
