In business, it is worth having partners. So if you have long-term plans, think about partnership and know that it can take many forms, and that a strategic approach may be essential. Of course, such relationships can be completely unofficial, made on the basis of a verbal agreement, or very formal – written in the form of a contract with strictly defined terms and conditions. It is up to you and your partner to decide on what basis you agree to cooperate. Partnership can also take the form of B2B and B2C relations, so-called partnership (affiliate) programs or outsourcing. Whatever the type an important principle is that both parties should benefit as soon as possible. Without unnecessarily dwelling on the fact that trust, communication and commitment play a key role, I would add that partnership in business is a complex relationship, and the success of the project will be determined by the quality of the relationship between the partners. Here, of course, risk and distance (physical or mental) should be considered first.
What is the most cost-effective way to build business relationships?
There is no definite answer to this question. It depends on many factors! At the beginning I want to add that it is difficult to attract the attention of so-called cold prospects. From my own experience, I know that it can be quite a task to get interest from busy potential customers. This certainly requires some thought, strategic planning or tactical actions.
Who is the ideal partner?
Answer this question for yourself! But know that the most effective partnerships are those where there is a natural synergy.
How to establish contact with partners and how to motivate them to cooperate?
There are really many ways; undoubtedly, imagination, good contacts and a little luck will be useful. It is also worth focusing on similar business values when choosing a partner and once you find the perfect partner, remember to:
– clearly define the planned goals and the results you want to achieve
– be prepared to devote your time and attention
– be authentic
– enter the game with the knowledge that the return on investment will probably not be immediate and there is a lot to do
– prepare a plan and a clear set of actions. Make sure your partner understands this plan, but also knows your services, pricing, target market, customer, and sales criteria. It’s about partner relations, remember!
Use technology!
– TALK – Of course, face-to-face conversation is the optimal solution, but in today’s era of technology it is sometimes more beneficial and quicker to use available platforms such as Teams, Zoom, Skype, LinkedIn, Messenger, etc. Personally, I consider Microsoft Teams to be one of the best tools to make meetings more personal and encourage teamwork. Teams allows you to start conversations very quickly and easily, and enables real-time collaboration to help you achieve more from anywhere.
– SHARE INFORMATION – SharePoint is not only a great tool for transferring information, but it’s also secure. Sharing documents has never been easier. You can create and automate business processes, and contact team members for documents or video conferencing, with the confidence that connections between people, devices, applications and data are secure. Advanced tools not only detect and investigate threats and malware, but also enable you to work smarter, helping you make faster and more informed decisions.
– MANAGE RELATIONSHIPS – Excel is a nice tool to have, but it’s a CRM system that will provide you with transparency in managing referrals. On the other hand, Microsoft Planner is a very useful tool that allows you to organize and assign tasks, set their deadline and importance level, and check their progress. It allows you to track and redistribute tasks efficiently and send reminders directly to your email address, notifying you of incomplete tasks. It connects incredibly well with Microsoft Teams, and while it’s completely independent of Teams, it works really well with it.
– MONITOR – this activity is necessary to track progress, revise the action plan and get clues to corrections and new goals.
Conclusion
Partnerships are complex relationships, and their quality will sometimes determine the success of the venture: a common vision, complementary portfolios of skills and services or an empathetic style of work are the assets, and technology is fundamental, so make sure you know your technological options. And if you have any questions, talk to me, I will be happy to help.
Together you can do more!
Kamila
