On powerful access, why leaders avoid partnering and overcoming a sudden exit
In partnership with GREENSPAN
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.
Partnerships create powerful access. Selecting the right primary producers to partner with and forging deep, enduring relationships with them creates strength and security in your supply chain.
Source: Melissa Rosenthal’s conversation with Master Chef, Guy Rossi
II.
Ego isn’t the main reason leaders hesitate to enter strategic partnerships. It’s fear, that a partnership may fall short of delivering value.
The antidote lives here.
III.
You're facing a sudden partnership exit. How can you ensure a smooth transition? I was this asked this question from the crowd this week. Here’s my answer:
Remember that sudden exits don't mean 'the end'. This is important for two reasons.
Reason 1: The sun will still rise tomorrow and organisations will still need to function post exit. Spend face time with the soon-to-exit partner to undertake two tasks. First, draft a press release for how the exit will be communicated. Second, work up scenarios for how the next 90 could play out. This will help flesh out the tactical steps your team needs to take to ensure continuity under a best, good and worst case scenario.
Reason 2: Strategic partnerships are often based on relationships forged in previous companies. Don't burn bridges, the opportunity to partner together in the future will hinge on the quality of the exit.
1 QUESTION FOR YOU
Which of your supply partners could help you innovate on product development?
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Until next week,
Phil Hayes-St Clair - Partnership Expert
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FROM OUR PARTNER gREENSPAN
Every time I step into ‘The Lab’, my 5x2m home podcast studio, beautifully designed by Greenspan, I’m reminded of the power of great design. Since 1976, Greenspan has been transforming lives, crafting everything from garden rooms and studios to rural barns and cottages, all while ensuring top-quality construction and council compliance.
Now, I’m excited to partner with Greenspan to offer new customers $500 off their next project! If you're interested, reach out to me here.
In the meantime, check out the team that sets the standard for customer success at Greenspan.
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