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The Power of Partnerships

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So how do you find great partners?
There are plenty of people out there who want to partner with you if you’re successful. They want to get a lot from you without expecting anything in return from them. But they key to a good partnership is one where it’s good for both sides. Don’t ever partner with someone unless you are able to make them money. No matter how small you are, or how big they are, always look for ways you can help your partner. Be humble; don’t go in with the hard-sell of how amazing your product or service is, but give an honest, straightforward presentation of what you do and how it works. Spell out how it can help them, and let the facts speak for themselves. And the other party should be able to do the same, tell you exactly what they can do to help you, without falling back to the glamor and glitz of the hard sell that’s all flash, no substance.
If you’re each helping the other make more money than you would be able to make on your own, then you have the recipe for a winning partnership. But in a long-term relationship, don’t get caught up in comparing dollar figures. If a partnership is making you more money than you would make on your own, it’s irrelevant how much your partner gets. Don’t get greedy and look for ways to cut your partner out so you could claim all the financial rewards; remember that the only reason the pie is so large is because you’re working together. Separate, you can have the whole pie—but it’s a small one, and you’re worse off than you were before.
Published: October 23, 2013
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