5 Apr
Fourteen Tips for Creating a Good Strategic Partnership
Posted in Strategic Planning and Business Support by Don Anderson
1. Dare to Trust - have the courage to trust the other guy. Entrepreneurship is about taking calculated risks.
2. Establish the ground rules - clearly decide on what the relationship will entail.
3. Determine each parties’ responsibilities - know who is providing what service(s) or product(s).
4. Have a well defined plan - preferably in writing, e-mail or a fax will do.
5. Make a concentrated effort to involve your partner(s) in your day to day business. Find ways to increasingly involve each other in projects.
6. Test the waters - work together to see if the relationship works for all concerned. If its WIN-WIN you are in, if not its time to move on.
7. Keep the lines of communication open. Always keep each other informed. Short telephone messages, e-mail, even faxes do the job
8. Don’t be greedy. Share the wealth. Be sure everyone is amply rewarded.
9. Relationship first - more important than any one deal. Customers can spot tension instantly and make a decision to work with more positive, happier teams.
10. Be farsighted - go for the long term both for your customers and partners.
11. Seek individuals and organizations with complementary skills. Good work and relationships come from pieces that fit together to make a complete picture.
12. Do cooperative marketing. Each partner has different contacts who may want to buy new and different products and services from the team. Communicate the mutual strengths and benefits to each organization’s customers.
13. Develop customer service so that customers come first, regardless of who makes the sale or who has the direct contact with the client. There is no “them” in a successful partnership, just “us.”
14. Be up front about specific business practices like no poaching, payment policies, and basic office procedures like answering the telephone before the third ring.
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