Basso On Business: Strategic Partnerships Abound

I have been focusing on creating new and improved strategic partnerships over the past year with mixed results. I have noticed that they certainly take a lot of time to set up and lay out the ground rules and overall plan....but don't always have the desired outcome. Huh. Same plan, same service(payroll) but different results. Why?

It appears to me it is a matter of picking the right partner. Just because you form a relationship and the partner agrees to the basic premise does not mean the program will succeed. You need a partner that is committed to the PROCESS, not just the CONCEPT. Most plans look great from 10,000 feet, but when it comes down to executing, can they really do it? Or more appropriately, can they be taught to do it?

Ask some key questions of the prospective partner, like:

1. Have you made strategic relationships before?
2. Did the partnership have the desired outcome?
3. What were you and your partner each responsible for?
4. What were you hoping to gain from making this partnership?

This is just a short list, there are many more relevant questions to determine if the partnership is worth it. Don't assume your prospective or new partner has the same initiative or motives as you do. Probe into all aspects of the project. I assure you, having many partners that barely meet mutual goals is far less appealing than having a few of the right partnerships.

Now, you might say that this seems plainly obvious and why would I blog about something so clear. The simple fact is that most of my colleagues that form partnerships fall victim to this trap time and time again. Well, I am certainly determined to take my own advice and concentrate on quality, not quantity.