The first step to growth, creating unbreakable partnerships between teams and should I advertise?
In partnership with MWAH. Making Work Absolutely Human.
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, plus additional insight from the Partnership+ podcast.
3 IDEAS FROM ME
I.
The first step in building a successful partnership or collaboration is to know what YOU need. The basis for building authentic partnerships and collapsing the 'time to trust' is clearly communicating your needs so future partners can understand how value can be exchanged. Start by asking two questions:
How do we sell to more customers? Think about this as 'partnering out' or partnering with brands and organisations to build out your distribution channels.
How do we strengthen our core? Think about this as 'partnering in' or partnering with companies to allow your teams for focus on being the best in the world at your core capabilities.
Answering these two questions will help you identify the organisations you should partner with and importantly, have a crystal clear answer to, 'how can we help?'
II.
Actively use "partnership" as a term to describe the nature of the relationship between internal teams. Three powerful questions help to move internal teams closer together:
How can we design a partnership model for our teams to work seamlessly together?
How often should we review and reset how our teams partner on [insert task]?
How can we help you, as our partner, be even more successful?
Note the use of 'how' in each question. The answer might not be immediately obvious. The idea is to collaborate to find a path forward together.
III.
Should I advertise or invest in partnerships? I was this asked this question from the crowd this week. Here’s my answer:
Consider return on effort. You can advertise or you can seek our collaborations and partnerships with organisations that will happily sell your thing for a reward over time. Advertising is a short-term sugar hit. Partnership-driven growth is slow-release fuel. Instead of chasing one transaction, grow through trusted relationships who make it their business to see you succeed.
1 QUESTION FOR YOU
What unique strengths or resources does your potential partner bring to the table?
Want to share this issue of Partnership via text, social media or email? Just copy and paste this link:
https://philhsc.com/partnership/20-march-2024
Until next week,
Phil Hayes-St Clair - Partnership Expert
Partnership+
We’re answering your questions in the March edition of the Partnership+ Ask Me Anything episode. Mel Rosenthal and I love answering your questions so if you have one, send them here!
FROM OUR PARTNER
Want to know the best kept secret in business? It’s having on-demand access to resources to help you grow a thriving team culture and to manage those tricky Human Resources issues when they come up.
The team at Making Work Absolutely Human (MWAH) have got you covered. In addition to providing advice to create incredible cultures at the world’s most iconic brands they also help people like you and me with a simple online membership to actionable resources, downloadable guides and advice to help you navigate any tricky topic when it comes to people and culture. I’m a long time customer and it’s incredible.
As a Wednesday Partnership reader you can get $25 off MWAH’s annual Knowledge Base membership. Just head over to MWAH and use the word PARTNERSHIP on checkout.
Don't know where to start with partnerships?
The Wednesday Partnership Newsletter includes 3 ideas and 1 question for you to create business partnerships that you never thought possible.
The latest issue is sent to leaders in Fortune 500 companies, entrepreneurs, educators and small business owners. Join them by entering your email and signing up for free right now.
