Keys to Successful Partnerships

The most successful people and companies create strong teams and relationships by harnessing each partner’s strengths to achieve a common goal. Solid partnerships lead to collaboration and innovation. Steve Jobs described a good partnership this way: “Great things in business are never done by one person. They’re done by a team of people.”

Building a true partnership demands dedication, fortitude and trust. From the start, it is essential for every member of such an affiliation to understand all expectations and obligations involved.

At BenefitElect, we take pride in the thriving relationships we have developed with our clients and business partners. Our focus on being an extension of your team confirms our level of commitment to become an invaluable asset to your company.

Partnerships help each other be successful and create common goals. A great partnership has several notable characteristics:

You get out of it what you put into it.

In any relationship, the effort and attention you bring will be reflected in the growth of that relationship. Thus, it is important to be proactive to ensure a healthy partnership. It is also key to set clear expectations in order to develop a working relationship that operates in a smooth and productive manner. That is why, at BenefitElect, we start by asking questions and setting expectations.

True collaboration also means that both parties are engaged. When people are committed to a common goal, unique and highly productive solutions are the result. To kick-start teamwork with a partner, ask them for their input on an initiative that they can be involved in. Listen to what they have to say and incorporate their feedback. Chances are your partner will be more than ready to help in any future collaborations.

Trust is the cornerstone of strong partnerships.

According to Patrick Lencioni, “Teamwork begins by building trust. And the only way to do that is to overcome our need for invulnerability.” In a true partnership, an environment of trust is fostered through transparency in the process. For example, a vendor builds trust by ensuring that their product functions exactly as you expect. When all parties involved trust one another, everything runs smoothly, and confidence and strength grow along with the partnership.

The following is a list of ways to develop trust with a partner:

• Set clear expectations and well-defined roles.
• Follow through with commitments.
• Show initiative and willingness to help.
• Discuss issues and events that could impact the relationship.

The focus is on the customer.

Understanding the needs, pain points and goals of the customer is what sets a company apart. When a company’s primary objective is to allocate its resources to help a client achieve their goals, the recipe for a solid, long-lasting partnership is created. Finding a partner who is a good fit for your company can be challenging, however. Spending time to vet several firms will ensure that your partner is a true asset rather than a liability.  

Before you begin a new partnership, download our FREE resource “10 Questions to Ask When Evaluating a Vendor.” https://be-marketing-group.s3-us-west-2.amazonaws.com/Top_10_Questions_v2.pdf