I learned very early in my career in Product Development that partnership was essential to getting my job done.
Much like a movie producer, I was the hub of all of the processes that needed to be completed to get a project finished on time and on budget. My vendors, department counterparts, and manufacturing facilities were all the spokes. I had to depend on them, while at the same time keeping all of these plates spinning.
That experience has served me well as an entrepreneur as I build power partnerships in my business.
Power Partnership is based on three fundamental principles
Network with intention: by which I mean that you’re looking to see where you can provide greater value to your client base than your offerings alone, magnifying the benefits of working with you. How do you align in terms of values, ethics, service style?
You’re looking for more than just a referral partner: That’s not the intention of creating a power partnership, although if done right, that certainly becomes a benefit after you’ve cultivated a relationship.
You’re not just looking for any service provider: You have to be judicious--not all service professionals will align with your values. For example, my core values are Integrity, and Creativity, and Community. I wouldn’t mesh well with someone who thinks deadlines are a “suggestion”, or someone whose business doesn’t allow for innovation.
Collaborate to expand your network: You’re not looking at cultivating this relationship from the point of purely client acquisition, but for your business to provide value far beyond what you would be able to reach on your own.
Start by surveying the landscape and see who is serving your clients. Assess your services and see where there are gaps in your offerings. Are you close enough within your professional network that you could initiate a conversation about partnering? Do you have a mutual connection that could introduce you? (Kind of like Six Degrees of Kevin Bacon!)
Lead with value within a community: By giving far more than what you get in return. We’ve heard this over and over from our mentors and coaches in terms of growing our authority and building brand awareness in our niche when it comes to client acquisition. People want to do business with people that they know, like, and trust.
What can you contribute with ease and without depleting what you need to keep going? Bring your natural gifts and talents to the relationship, give more than you get, and become invested in your partner’s success.
I hope you’re seeing the pattern here: the same efforts and skills that we’re cultivating that are focused inward on our business growth are the same ones that we turn outward to build powerful partnerships.
This is great for us introverts because we’re already practicing getting comfortable putting ourselves out there. (You extroverts go on lighting up the room--you’ve got this!)
Begin to build power partnerships
Ask yourself how can you support them? What gaps can you fill? Ask them about how you can serve them?
Spend time getting to know their needs and ask specific questions like,
“What type of business would be a great fit with your clientele?”
“What type of client would be a good referral for you?”
“What should I tell a potential referral about your business?”
“What’s the best way to send you those connections?”
Once you’ve established a good rapport with a power partner you need to cultivate and sustain that relationship on an ongoing basis. Affirm they’re a good fit by circling back to your clients and find out about their experience working with your power partner. Celebrate your partner’s wins.
Follow them on social media, amplify their message, use your platform to allow them to be a guest for your audience. By the same token, offer to bring your expertise to their audience.
And as your business evolves, evaluate your power partnerships from time to time to see if they are still serving you and your clients.