How strategic partners hide in plain sight, the power of villages and 5 questions that matter
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.
Reframing a competitor can reveal them as a strategic partner. If they can access people who would love your product or in some way strengthen your supply chain, they are not an adversary but a potential ally.
II.
It takes a village to achieve success in a strategic partnership. Allies are key individuals in your partner organisation who work with your team and advocate for the partnership. They are your go-to contacts for resolving issues and managing risks through informal channels.
In an ideal strategic partnership, each team should have five allies. This ensures continuity when changes occur, such as allies changing roles or leaving their organisation.
III.
How can you promote effective knowledge transfer and learning in partnership projects? I was this asked this question from the crowd this week. Here’s my answer:
Go beyond encouraging dialogue. Create time and space for partnerships teams to meaningfully connect and work through milestones and issues with a view to continue enjoying the process of achieving a shared outcome. Ideally monthly, I call these 'Partner Better' events in which teams answer five questions together:
What was supposed to happen?
What was the reality?
What went well?
What did not go well?
What should be changed for next time?
1 QUESTION FOR YOU
Which of your competitors are actually strategic partners?
Want to share this issue of Partnership via text, social media or email? Just copy and paste this link:
https://philhsc.com/partnership/5-june-2024
Until next week,
Phil Hayes-St Clair - Partnership Expert
Partnership+
Tap the tile below to view a great 50-second insight from Ryan Hawk about how to close deals with new partners.
Ryan is the co-author of the extraordinary new book, The Score That Matters.
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.
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.
