You are currently browsing the tag archive for the ‘Partnership’ tag.

bank accountI have a colleague who has been trying to get cooperation from a partner organization that I also happen to work with. I’ve been very pleased with the relationship I have, but he’s quite frustrated at the moment.

What’s the difference?

To me, it seems clear. I invested before I expected dividends. He’s wanting immediate results.

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image002I really love highlighting the great new businesses in northern Colorado, both here and on my Values Based Business blog.

I had the chance recently to work with Sarah Nelson and Andrea Schneider, who head up Inhabit Design Group.  This is an emerging interior design firm which does some pretty amazing work in the area.

Now, most of my artistic talent is not in this area.  I can do music, but when it comes to the look and feel of our home, I’m at a bit of a loss.  So I have huge respect for people who can do this well.

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This is Thanksgiving week in the U.S., and taking a little time away from work helps put us in a more thoughtful mood.  Even grateful, I find.

Apparently this has been the month for partnerships.  I’ve had multiple discussions about this with my clients, and have taken steps in my own business to form new supporting relationships for my business in 2014.

Here’s how I look at partnerships:

Partnership

Quite simply, it’s where your goals and someone else’s align, so you decide to invest in working together.  But the implications of this concept are MUCH more interesting than it might first appear.

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I had the chance several times this week to talk with people who are key business partners for me.  This got me thinking:  How do you determine whether you’re getting a great return on your investment?

OK, here’s the mathematical formula:

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I’ve been talking with several people recently who are looking at their business agreements. I don’t know if it has anything to do with being at the beginning of a new year, but it’s a great exercise to do regularly.

Every business contract you have is intended to last for an extended period of time. After all, you put an unusual amount of effort into it, so you should be getting a higher return than just a one-time transaction. Read the rest of this entry »

Smart businesses are always trying to build partnerships. Their goal might be to extend their market visibility, or deliver a broader set of products and services, or to spread out risk.

In its simplest form, a partner is someone who is actively helping you achieve your goals, while you’re helping them. Even your suppliers could be considered partners, because they’re providing your products and you’re supplying their revenue. But usually we’d reserve the term for relationships that are based on more than just a transfer of money.

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