The Enduring Power of Business Partnerships

By April 19, 2021Blog, Uncategorized

“Alone we can do so little; together we can do so much.” ~ Helen Keller

Collaboration, trust, working together–are these things your business might be missing? When we work together, great things can happen. However, only if we go about it in the right way.

As a small business owner at Burgie MediaFusion, I totally understand the power of collaboration, relationships and working together when it comes to clients and my business partnerships. After all, it’s the cornerstone of my business. In fact, when choosing clients, I always first consider how we will work together. Is it going to be mutually beneficial and will we both gain something from it? Will we both succeed?

The need for partnerships

Sometimes, even with your best attempts, you just can’t do it alone. Maybe you need expertise from someone else, or help and support to grow your business further? Your business might be poised to really grow, but you just need someone (or another business) to help push it even further. 

Partnering with another company is one path leading toward the growth of your business. But to that end, creating a partnership involves a great deal of work. Relationships don’t just happen overnight–they take work and nurturing. You want to find someone or a team with whom you can cooperate, set clear expectations, and share ideas, knowledge and technical information freely and openly. Solving challenges with another person or group allows different strengths and abilities to be shared and strengthened.

Choosing a partner:

There are many considerations when choosing to partner with another business. You need to be strategic with whom you want to work. Consider how the company aligns with your views and values and how you will function well together to create better versions of your companies.

  • Identify needs–what do you need from another company?
  • Respect–Will it be reciprocated?
  • Trust–Is there a foundation for mutual trust?
  • Vision–Are you on the same page?
  • Personalities with team members–How do they mesh? Can you find the optimist, strategizer, helper, thought-provoker, realist – the people and personalities that connect?
  • Temperament–This one can make or break a partnership. Pay attention to how people react to situations and how they solve problems.
  • Goal setting–How will your companies be aligned in their goals and objectives?
  • Values–These should be in close alignment (both with individuals and branding) so as to not create a wedge between partners.
  • Flexibility–How will you both pivot, adapt, and change to situations?
  • Transparency–How do both companies relate to customers and other businesses?

Goals to achieve, together:

  • Build, enhance and grow each company’s customer base. (Sometimes one partner needs more growth in their client base, so set this goal early on in the process if needed)
  • Create stability if needed for one or both companies.
  • Fill needed roles on both sides. Do you need someone that questions, a cheerleader, the realist, the visionary, the nuts-and-bolts, communicator, or a task completer?
  • Collaborate with a larger, more effective team to find good ideas, express new perspectives and create new products or plans.

Working with a business partner should be mutually beneficial for both companies involved. Most times, creating a partnership is needed when one or both companies need something the other can offer. Many companies are expected to do more with less these days and working together brings different strengths to the table, to improve efficiency.

  • Your sales can increase if the partnering business has a bigger footprint, is better known, or has some piece of business you are missing. Do they have a higher value on search engines, a trusted name, knowledge or credibility that can help grow your business?
  • Work smarter! If you don’t have to reinvent the wheel every time, that’s a win in our book. What will your partnership provide each other?
  • Surrounding yourself with those who can support, cheerlead, and problem-solve, can help you weather the slow times and celebrate the good times.
  • Customers get what they need from both of you, through products and skills. You are on the receiving end of enduring customer loyalty, new markets, and interplay with your partner.
  • Communicate to know what is working and what needs attention, find new opportunities and provide feedback. Be proactive and everyone wins!
  • Become a team with clear roles. Everyone should mutually benefit and grow, learn, and gain experience and knowledge. Find people you can count on for the long haul, not just the next few months.

“If people like you, they will listen to you. But if they trust you, they will do business with you.”  ~ Zig Ziglar 

At Burgie MediaFusion, growth and trust are what we strive for by partnering with your company. What can we do for you?