Finding Collaborators: Tips on Finding the Right Partners to Expand Your Business
Subscribe to Articles
Many of today’s most successful businesses began through collaboration and partnerships. The most successful partnerships often involve people that have worked together previously, but many also evolved from a small business entrepreneur finding the right partner. In this article, we will help you to identify relevant connections and create collaboration opportunities.
Tips to Build Relationships and Create Strategic Partnerships
Find Someone Who Shares Your Values
A great partnership begins with people who share the same overall values. Our individual values serve as a footprint to our actions, not only in business but also in our personal lives. Decide if the person you are considering partnering with would be someone you would have as a friend. Most friendships are based on shared values.
Find People that Share Your Vision
It is important from the very beginning to make sure you and your potential collaborator are on the same page as far as your vision for the future. The vision or goal is what the organization as a whole wishes to accomplish. If partners have different visions, it can lead to a disconnect. This vision needs to get established early on with a set of actions to reach that goal.
Look For People with A Complementary Skill Set
A truly successful partnership consists of each individual possessing different and complementary skill sets. You will eventually be using these complementary traits in tandem to achieve your vision.
The Rule of Reciprocity
Business partnerships are give-and-take just like any other relationship. A successful partnership is when each partner feels that their rewards are equal to or even exceed the efforts they put in.
Proactive Conflict Management
Even if you and your partners have shared values and beliefs, occasional conflicts can still occur. When any conflicts arise, there should be a conflict management strategy in place. Successful relationship strategy approaches to conflict management include compromise, accommodation, and even collaboration to resolve the issue.
Have An Exit Strategy
The last element in this relationship strategy is how this new collaboration and partnership will end. If you do not have an exit strategy in place, you can be faced with decision-making at a time when you may be under pressure and may not be completely level-headed. Every contract that you draft for a partnership should include a specific exit strategy in writing. If the partnership becomes better than expected, you can always renegotiate a new contract for partnerships with modified terms if they apply.
Where To Find Collaborators and Business Partners
There are many ways you can go about networking to find collaborators.
Trade Shows and Conferences
Trade shows and conferences are not only great places to find new clients, they are also plum locations to find collaborators, especially in your industry.
Local Gatherings
Believe it or not, local gatherings are a place to find collaborators. At these gatherings, you can build win-win relationships with people in your community.
LinkedIn is the most popular social media platform for finding collaborators and business partners. It is very easy to use LinkedIn to develop relationships and find collaborators and business partners.
Promotora Systems Inc. can be your guide to building profitable relationships through collaboration. We can help you optimize your networking skills and empower your success. Contact us today and ask about our various coaching programs.