How To Build Partnerships To Grow Your Business
HOW TO BUILD PARTNERSHIPS TO GROW YOUR BUSINESS - A FRAMEWORK
Partnerships could be key instruments of growth.
We ‘partner’ with people and we ‘partner’ with organizations.
For a ‘partnership’ to succeed there are broadly two phases that we need to get right:
Phase 01: Set The Ground Right [Foundation]
Phase 02: Execute It Right [Ongoing]
Phase 01: Set the ground right
SETTING THE DIRECTION
a) Articulate Your Intent - “Need & direction of partnership is established at the confluence of ‘Intent’, ‘Strategy’ & ‘the Opportunity’ ”
SELECTING THE PARTNER
a) Complementarity - “There has to be complementarity of ‘Competence’, ‘Capacity’ and ‘Reach’ ”
b) Alignment - “Alignment (resonance) between ‘Vision’, ‘Values’ & ‘Value’ lays the foundation for fruitful partnerships”
Phase 02: Execute it right
- PEOPLE - You are partnering with people - “If you take the frills out every business is human business”
- TRUST - You are pursuing the same - “Trust and fun are the key”
This framework has worked for me. I am curious to hear how it works for others.
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With the new stuff that I am developing around hashtag#FutureSkills and hashtag#FutureOfWork I have been getting more into the startup / scaleup world.
School of MetaSkills is a startup. I am going through a learning curve as the business logic of ‘training / product business’ is very different from the traditional ‘consulting’ business model that I have been used to so far. This has opened up new ways of working and opportunities for me.
For School of MetaSkills (www.metaskills.global) business I am exploring a business model to grow through ‘partnerships and distributed networks’ (in contrast, this is a different model than I have followed for past 10 years in building our consulting business of Ideactio Pte Ltd, which was a closed ‘everything-in-house’ model).
I am now in talks with different ‘partners’ for MetaSkills business.
This led me to dig into the archives of my notes from 2016-17 when I had developed a model/framework to structure our discussions with a Design firm from Finland that had wanted to partner with us.
