How to partner when cash is tight, reducing fear and finding the right talent
In partnership with 52 CONVERSATIONS.
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.
When capital is tight, consider a contra deal to maintain the momentum of a partnership. A time-bound exchange of goods and/or services without cash changing hands is a good test of a partner’s desire to make a partnership work,
II.
Realising "We can't do this all ourselves" is powerful for any business leader. Equally powerful are partners who understand this and offer collaboration that not only reduces the fear of outsourcing but also create outcomes that exceeds expectations.
III.
How can you attract and retain innovative talent through partnerships? I was this asked this question from the crowd this week. Here’s my answer:
Top talent look for learning-rich experiences. When signalling opportunities to attract these people, over- communicate the exposure they will receive, the decisions they will have a hand in making and how the partnership's mission is focused on creating a new normal. Also be sure to remember that top talent typically have a strong and diverse network so at interview stage ask them who they would being with them into the partnership when given the chance. This can short-circuit hiring time and it can demonstrates that the candidate acknowledges that strong partnerships are a team sport.
1 QUESTION FOR YOU
What job or task would you outsource if you could find the perfect, trusted partner?
Want to share this issue of Partnership via text, social media or email? Just copy and paste this link:
https://philhsc.com/partnership/8-may-2024
Until next week,
Phil Hayes-St Clair - Partnership Expert
Partnership+
If you want to know how large organisations using partnership to innovate, this is a episode of Partnership+ for you!
You can also listen free on Apple Podcasts and Spotify.
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