When a partner isn’t, the exit strategy paradox and why looking for recoverable partnerships matters
In partnership with AUSTRALIAN RED CROSS LIFEBLOOD
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.
A supplier who calls themself a partner and won’t discuss delivering beyond the agreed scope, isn’t a partner. They are a problem.
II.
Every partnership faces the ‘Exit Strategy Paradox’. Although it may seem counterintuitive, clearly defined exit scenarios can strengthen a partnership. Knowing the terms and conditions for a breakup reduces uncertainty and builds trust between parties. Importantly, these T&Cs can also be revised as a partnership is reset.
III.
How can you advance your career in the business world through partnerships? I was this asked this question from the crowd this week. Here’s my answer:
Look for recoverable partnerships. These are alliances that looked good on paper, earned enough attention to result in a signed partnership agreement and then languished. Significant value can come from resetting partnerships where leaders once saw value because much of the foundational work has been done.
One powerful partnership can transform the trajectory of a business and becoming an expert in partnership recovery is a valued skillset. An added bonus of developing this skillset is that it also helps hone pattern recognition skills to identify which partnerships should not be salvaged.
1 QUESTION FOR YOU
What generous act could you commit today to unexpectedly improve the relationship between you and one of your partners?
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https://philhsc.com/partnership/22-may-2024
Until next week,
Phil Hayes-St Clair - Partnership Expert
Partnership+
Introducing leadership expert, Ryan Hawk. This is such a fantastic conversation and to help you become more familiar with Ryan’s work, I am giving away five copies of his extraordinary new book, The Score That Matters.
To receive your FREE copy, be one of the first five people to email your three favourite takeaways from this episode to hello@philhsc.com
Giveaway ends 31 May 2024. Enjoy!
FROM OUR PARTNER
Life-giving donations for life-changing outcomes. That’s Lifeblood’s purpose and while their life-giving role started 90 years ago with blood donations, today they help more people in more ways than ever before.
Lifeblood is like a well-oiled machine and donors, like you, are their lifeblood. I have donated blood and plasma over 160 times and know the impact these donations have for people in the fight of their life. Right now, Lifeblood’s reserves of most blood types have dropped to critical levels so as a Wednesday Partnership reader, I invite you to donate again or if you’re new to donating, take the eligibility quiz!
Thank you, thank you, thank you.
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