On how to achieve partner alignment, negotiation red flags and 20 questions to ask before entering partnership
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.
And if you need help with your business partnerships here is the Partnership Essentials online course and my services.
3 IDEAS FROM ME
I.
Partner alignment is the process of moving toward and achieving one common objective after another with a partner. The core ingredients to successful partner alignment are shared language, curiosity, trust, good humour, an unshakable work ethic and belief that the objective will be achieved.
II.
Before entering into a partnership negotiation, a level of trust and respect for your partner's objectives should already exist. The same should be true of your partner which means that the tradeoffs that are subject to negotiation will, one way or another, end up advancing each partner's position throughout the course of the partnership. If a level or trust or respect is absent by the time negotiations commence, consider this a red flag. You might be better off (in the medium and long term) by not proceeding.
III.
There are 20 questions to ask before entering into partnership. The first 13 questions help to answer the fundamentals, like is this partnership a good fit and can we generation value together. The last 7 questions act as 'early warning' signals which might result in walking away from a potential partnership. You can find those question in a handy online tool right here.
1 QUESTION FOR YOU
How many new partners would it take for you to achieve one of you big goals this year?
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Until next week,
Phil Hayes-St Clair - Partnership Expert
Partnership+
This week you’ll hear from two former F-18 Fighter Pilots turned business leaders. In this episode of Partnership+ Tom Gleeson and Chris Huet walk through what it takes to partner in and outside the cockpit and how those lessons carry forward into their lives today, in particular:
✅ How critical rankless after flight reviews are to awareness and learning
✅ The role of a large organisation to enable the tip of the spear to achieve mission success
✅ How shared language and consistent, clear communication helps to collapse ‘time to trust’
If you enjoy this, don’t forget to subscribe to Partnership+ to be notified of brand new episodes!
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