On looking to people you trust, how to share revenue at the start and knowing what your business needs
Welcome to Partnership Wednesday! Here are 3 ideas from me and 1 question for you to consider this week to create partnerships you never thought possible.
3 IDEAS FROM ME
I.
Strong and unexpected partnerships are often started by people who have enjoyed working together in the past.
II.
When a revenue share model is proposed between two companies, one large, the other small, providing the majority of the share (i.e. greater than 50%) to the small company for a defined period creates disproportionate advantages for the partnership in the future. This helps the smaller partner develop financial strength and resilience and predisposes the both parties to partner for the long term.
III.
There is a difference between what a business needs and what it wants when it comes to entering a partnership. Be prepared to clearly express both the need and the want to a new partner.
1 QUESTION FOR YOU
List 5 people who you trust and enjoyed working with in the past. Is there a future business partnership hiding in plain sight?
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Until next week,
Phil Hayes-St Clair - Partnership Expert
Partnership+
Like to know how to size up a new business partnership opportunity in less than 2 minutes? Watch this video that covers the ultimate 20-Point Partnership Checklist that will help you build partnerships with the right business partner and avoid the pain of partnering with businesses that aren’t the right fit. Feel free to leave questions in the Youtube comments section!
By the way, watching these videos and subscribing to my Youtube channel is one of the best ways you can support my work, so thank you!
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