How can you work successfully with business partners?
Our Chairman explains the benefits of buddying up to achieve business aims
Along the road, every business should consider the option of creating partnerships and liaising with other companies and businesses. By sharing insights and projects with like-minded establishments, your company can therefore evolve and develop in new and exciting ways, which is only a positive for growing your brand.
Here are my top 10 tips for forging a successful working partnership.
1) Communicate genuinely. You want to be able to create mutually beneficial opportunities for both yourself and your new partner, that combines your joint interests and can further both of your ideals. Using a business partner selfishly to tick off your own agenda is a no no.
2) Match your quality levels. If your potential partner does something better than you, then up your game. This will not only make you a stronger company as a whole, but also ensures you have something to bring to the plate.
3) Source partners in the same or correlating industry to you. You want to make sure that you find a partner who is relevant to your business, where you can both offer something. You will most likely have similar target audiences or aims.
4) Don’t rush into anything. Have realistic expectations about what you want to achieve, and enter all discussions seriously. Some people may want to rush straight in and get cracking, but this is a big decision so make sure you get it right and realise what you can both contribute.
5) Create a partnership strategy. Having a handy document to refer to that distinctly labels how the relationship will develop and evolve is a good idea. This style of document can also lay out potential benefits and cornerstones to frame how your partnership can succeed.
6) Let your customers promote your brand. Word of mouth is absolutely vital for creating and nurturing a positive image, with happy testimonials attracting new partners and opportunities to you. Make the most of loyal custom to get your business name out there. We do this via our locum staff, who can share their testimonials about working with us on our website. This is a great way to showcase advocates of your business.
7) Be tactful, not needy. Partnerships are based on equal grounds, so know that you have something to offer as well as something to gain from creating a new relationship. Be respectful of any liaisons you make, not being too full on or confrontational as this could scare away interested parties. One example of this would be working with our clients. They know they can partner with any agency, yet we know Total Assist Group can really enhance staffing solutions by adding extra value to the service. Our expertise and quality ensures clients partner with us.
8) Predict hidden challenges. Not everything runs to plan, so ensure you cover your back with some legal paperwork. This is also a good indicator of how your partner feels about the relationship and how committed they are as they should be prepared to discuss legal dealings with you. For example, Total Assist Group work to numerous framework agreements when supplying locum staff.
9) Learn to compromise. Common gain for the partnership sometimes has to be put first, sidelining the interests of your business briefly. Think long term.
10) It’s all about alternative avenues. There are so many ways to reach potential partners, all methods working to raise awareness of your business as well as incite more customer opportunities. It is important to build upon your business reputation, making sure that the world knows of our specialist expertise in healthcare recruitment and how they can learn from us as a company. People are drawn to innovation, so create a buzz and move your business forward.
[testimonial name=”By Justin Rich” who=”Chairman at Total Assist Group ” imagelinks=”http://totalassist.co.uk/wp-content/uploads/2014/06/Justin-5.jpg” vertical=”no”]”Total Assist was founded by myself in 1999 specialising in the supply of Locum Doctors and today more than 70 ambitious employees occupy our modern offices and headquarters in Essex.”[/testimonial]