Do You Trust Your Partner?

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  • Originally posted on Linkedin Pulse

    Very few businesses are successful without good partners. Everyone has them – from your customers and contractors to your investors and suppliers. There are different levels of partnerships that we seek to further our business goals and strengthen our team.  

    No matter whom you’re partnering with, the most important element from the start has to be trust. Especially within a startup, you need to extend trust early and often; if you don’t, you’re S.O.L. There are so many things to be sorted out and processed and created in the beginning, and while some people may have years of experience, essentially, everyone involved is starting from scratch to build something new. What makes it work better is knowing you have trusted partners who are doing their part so that you can focus on your part.

    If you break it down further, there are a few practical ways to ensure your partnerships are built upon a solid foundation of trust:   

    This isn’t just about you.

    Partnership is a two-way street. The first question to ask a potential partner should always be: “What are your goals?” and not “What’s in it for me?” You should have a deep understanding of their goals and needs so you can determine just how you can support each other. And what’s in it for each of you may not always be obvious – or immediate. There’s a long game here, too. On the flip side, a partner who is “Me, me, me” probably doesn’t have your best interests in mind, so look for those warning signs so you’re not spinning your wheels with a weak partner. 

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    Brutal transparency is a must.

    You’ve got to lay everything on the table from the start with your partner – hiding things isn’t effective for anyone; it can actually be damaging. Some of our partners, like Amazon Web Services, or our marketing consultants, have full access to our world – they sit at our desks, they log in to our online tools, and they know all of our backstories. If you don’t share up front what your assets and liabilities are, you might run into a problem down the road. And when issues arise, and there are always issues, be direct and act quickly to disclose and address them. Nothing spoils a partnership like surprises.

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    R-E-S-P-E-C-T.

    Aretha had it right – a little respect goes a long way. This means everything from advocating for your partner to others, and yourself, to respecting boundaries and agreements. I’ve had experiences where sponsors would get frustrated because they weren’t getting the results they wanted, even though the partnership was set up on a completely different framework. Set expectations, manage expectations, and continually check in with each other to ensure your interests are still aligned and that you’re still in it for the right reasons.  

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    via BlogSpot

    Be the better partner.

    Sometimes one half of a partnership carries more of the load when it comes to certain assets. While you may not be able to do that resource-wise as often as you want, you can strive to be the best partner possible with the assets you do have, and through your values. Signing up to be a good partner includes all of the little stuff, too, like sending thank you notes and saying good things about your partners to others, or providing special opportunities or connections. When in doubt, go more than halfway to meet your shared goals.

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    Partnership isn’t perfect. I have done a poor job setting expectations, I’ve gone into partnerships for the wrong reasons, and I’ve had to deal with the consequences of being a bad partner. I’ve also had amazing partners where the trust is high and realize that any other arrangement is a recipe for failure.

  • Scott Case

    About Scott Case

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