Partnership

The Audio Version  - 3 mins

Word for Week 46 - Partnership

​Meaning: Partnership is a relationship in which two or more people, organizations, or countries work together as partners.

Insight:  Partnership is not a posture but a process - a continuous process that grows stronger each year as we devote ourselves to common tasks - President JFK, Sr.
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A few weeks ago,  I spoke with a client who is having success in getting her database to grow, however she told me she’s still looking for new ways to grow farther.  She loves having a small business, she just desires continuous growth. During our consultation, I asked her if she’d considered nurturing any partnerships.

She confided in me that the idea of forming partnerships sounded too complicated and that she couldn’t clearly see how it would help her bring more clients to her database. 
So I asked her if she’d allow me a few moments to give her some tips and advice on ways to consider the benefits of forming partnerships, and I was delighted when she said yes.  Today I’m sharing some of that with you.
1. Identifying successful or growing businesses that offer complementary services is great way to start.
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A few examples: (taken from an earlier blog that I posted) brings up….

• Cleaning Service > Linen Service > Realtor
• Event Planner > Restaurant > Limo Service
• Travel Service > Luggage Shop
• Jewelry > Clothing

 
2. After researching the category of businesses that best align with yours, be certain that you know what you’ll bring to the relationship.  Avoid the trap of only thinking of what you’ll get and concentrate on what you will bring to the table.
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3.  Remember, if it’s not in writing, it’s not real, so be sure you have more than a “handshake” or a verbal/virtual consensus.  All assumptions and expectations should be in writing.  If you find it “uncomfortable”, to put your expectations in writing, then you may not want to move forward.

4. There’s an old saying …friendship is just another word for partnership. That is not necessarily true, especially not in business.

5. Most every successful business worth its salt has already put into place a referral, affiliate, or partnership agreement for their business. That means they are already looking for you.  

Getting back to my client, I’m happy to say that after our conversation, she decided to take a deeper dive and consider her options.

She aligned herself another small business owner and it only took a short while for them both to see it was a great move to make.  I can see a lot of success in the future for both businesses.

If you’ve been thinking about building a partnership with a complimentary service, I hope you’ll hold on to the idea and ultimately find the right fit! 

Set up a strategy session with me  and together we can put some tactics in place to help you grow your most valuable business asset … your  database.

​Until next time Bye - Bye