The Joy of Short Term Partnerships
June 12, 2009 by Dr. Letitia Wright
Filed under Featured Articles, Wright Ideas
This article is for people who want to do a short term partnership for projects within their current business. You will discover how to partner and part without losing your mind and your money.
It’s great to put together projects that make money for everyone. During that time you can call that other person your business partner. You need to both understand the 4 basic elements of partnering:
Communication: Partners, who do not talk, do not return phone calls, do not return emails for information purposes will cause the project to fail. You have to talk, work things out and make sure everyone is on the same page.
Tolerance: can you handle the other company’s working style?
Honesty: is everyone upfront? Is anyone cheating or feeling cheated?
Trust: Do you trust this person. Any partnership that involves someone you do not trust is a bad deal.
What do they bring to the table? It is fun to work with people just like us. However, what you need in a partnership is someone NOT like. For example, because I like to focus nationally, I partner with people who are doing local or regional events. I do not want to be tied down to going to a local meeting where the market is small.
Make your deadlines real. This means when partners stop fulfilling their promises, it is time to go. We give a lot of slack to people and this wastes time. You could be working with another partner who is ready to go.
Win –Win Take Aways. I am always surprised at people who propose things that have no benefit to my company at all. When I suggest an item, they are high offended and will not move forward. This is business, not charity. Let’s all win together.
Now that you have had a few things to think about you can write down 2 or 4 people in your region you would like to partner with for a 6 month or less period.
Get the basic outline of what you want to do, how you want to make money and who does what. Then call and start with your proposal
If you need more publicity or an investor in your business, then get the new eBook Recession Proof Your Business by emailing
