McBride for Business Blog

How to Bring Partnerships Together

September 15, 2017 // R. Shawn McBride // No Comments »

R. Shawn McBride recently spoke about bringing partnerships together.

Hi, folks, Shawn here with you. A common question I get is, “Great, we have a lot of resources. We’ve seen what you’ve been posting on partnerships. We talk about partnerships. How do we bring great partnerships together to do more?” It’s an ongoing question that we see in the world. How do we do that? How do we make these partnerships work better? Well, let me tell you.

# 1 We need to have partners that are aligned, that have similar interests, that want to do great things together. We really need to have that fundamental alignment. And we want to understand that we have similar values but that we also add synergistically to each other. The best partnerships add to each other and realize that they add to each other, and they want to work together through the difficult times to get more.

Partnerships, make no doubt, are much like a marriage. You need to bring the pieces together and you need to be looking at the greater whole, not just one individual versus another. You’re looking at a collective goodness. And with a good partnership you have multiple people working together, everybody’s adding more. So the first thing is we need to have a synergy and shared values of what we’re going to do. Now, in a perfect world, you’re going to have similar exit points and you’re going to know how you’re going to get out of there, but that’s not going to happen most of the time.

# 2 We want to build processes and procedures to allow partners to come and go.  

# 3 We also want to make sure that the partners have the skills to compromise and work together. So many times business partners get in a fight or dispute over the future of the partnership because they aren’t compromising, they aren’t building their skills together. So this is how we work it step by step so that we can build better partnerships, so we can do more. We really want to look fundamentally at why we’re coming together. We want to have a clear understanding of what everybody’s going to do in the partnership, what they’re putting in and what they’re getting out. And then we want to make sure that we’re very aligned to get a lot done. So those three things will help you do a lot with your partnership.

If you have questions about partnerships, reach out; let me know. I’d love to know what’s going on in the world. I’d love to know how I can help you and what’s going on in your particular partnership. Reach out to me at McBride for Business.

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This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity.


About the Author

R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment, gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can email R. Shawn McBride or (214) 418-0258.

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