According to forbes.com there are 3 key types of partnerships:

1. Product Partnership (integration): When one company integrates another company’s technology on the product level.

2. Brand Partnership (co-branding): When one company leverages another company’s brand (or when two companies leverage each others’ brands).

3. Distribution Partnership (network partnership): When one company uses the distribution of a second company to grow its own database.

What is important is to understand the purpose to the business of each of these partnerships – is it to make money, save you money, increase your database or improve your product. This may sound very self-centered and it is if you don’t create a win:win partnership.

So with any partnership you need to give as well as take as when it comes to strategic and business partnerships, the foundational law will always be value. You need to have a level of mutual respect and understand the ultimate value of the relationship.

It’s all about respect …

When the proverbial ….. hits the fan, you can rely on that common respect and work through the differences as the partnership adjusts to make the plan work.  Contact Jerome today 0800 747 323 for an assessment of your ‘partnerships’ and he will show you ways to ensure they are a great fit for your business!

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