CorpComms Magazine

(1) Understand your partner

Do your research. Really understand your partner's business. Where have they come from? Where are they going? Where do they sit in their sector? What are their aspirations? What are their priorities? Is there a good fit? Too many organisations waste huge amounts of time and effort trying to create a partnership that doesn't really exist or work. Too often the value exchanged is biased in one partner's favour. This imbalance will not deliver a successful partnership. If it's not mutually beneficial - walk away

(2) Be proactive

Be forward thinking. Aim high and look to the longer term. Don't be afraid to ask for things. The worst that can happen is your partner will say 'No'. Most value is derived from long term partnerships that continue to evolve and develop. Continually challenge the status quo and always look to push the boundaries.

(3) Agree objectives

Take time to fully understand each other's objectives. Too many organisations rush into a partnership and then miss out on so much value. Make sure objectives can be delivered by both parties. Don't over promise. Draw up agreed plans clearly defining roles and responsibilities. Set sensible, clear timelines and definitely sign a partnership agreement.

(4) Communicate regularly

Good communication is key through all mediums and with all stakeholders. Maximise digital media as well as some of the more old fashioned approaches. Your key stakeholders are from all age groups and all backgrounds. This is a strength, not a weakness - embrace this! You cannot beat regular face-to-face meetings to cement relationships. If you need to find an excuse grab a coffee, say you were in the area. The benefits are huge. Senior buy in is crucial and is a critical factor in driving success. Without it many partnerships flounder.

(5) Work together as a team

It's very important to take people with you. All the successful partnerships are built on good teamwork. Understand and recognise each other's strengths and weaknesses and deploy them in the right areas. Don't feel threatened but accept that in some areas your partner is stronger. Work hard to keep all stakeholders interested and engaged.

(6) Be open, honest and transparent

From the very beginning, talk openly and honestly making sure all stakeholders are clear on activity. What is it? What are the objectives? When is activity happening? It's crucial to manage expectations and be totally realistic about what can and cannot be achieved. How will we work together to deliver activity? What is achievable in the timescales?

(7) Keep it fresh and creative

Never take a partner for granted and fall into predictable patterns of working and delivering just the bare minimum. It's very important to keep the partnership fresh and vibrant. Successful partnerships need energy and drive. Both parties can achieve objectives and often deliver and/or extract additional value. Deliverables are very contingent on the amount of effort you put in! The commercial world is changing rapidly. What worked last year may not work this year. There are new, exciting, more cost effective solutions and ways of doing things. Don't be afraid to explore new opportunities.

(8) Monitor and evaluate

Having agreed objectives it's very important to regularly monitor progress together. Set very clear key performance indicators ensuring that the project/partnership remains on track. Initially, it's very important to have weekly reviews, then move to monthly and finally quarterly. For established partnerships an annual review meeting attended by all key stakeholders delivers huge value. Assess progress, revisit objectives, and set new ones. Discuss what worked, but very importantly what didn't and understand why.

(9) Celebrate successes together

Having worked incredibly hard to deliver to agreed objectives take time to celebrate successes together. It's important to celebrate key milestones over the term of the partnership and let whole businesses share in the success. Then if the partnership is coming to an end go out with a bang - not a whimper.

(10) Say Thank You

Throughout the term of the partnership it is crucial to appreciate each other. These two words are so often underestimated. Successful partnerships require a lot of time and effort from committed individuals and it is really important to recognise and thank them. This will not only make them feel valued, but also motivate them to continue making the partnership a success.

share me: del.icio.us | digg | reddit | Tweet