5 Characteristics of Great Strategic PartnershipThere’s no proven formula for a perfect partnership, but there are general qualities of great strategic partnerships that facilitate success. Here are a few!
The beginning of any strategic partnership is essential for developing a shared vision and creating precedent. While people may work differently, establishing a clear vision as an umbrella to the overall partnership is helpful in guiding the entire process. This vision can further produce measurable objectives and goals to keep the partnership on track. A great strategic partnership involves a vision that all parties are excited about, driven after and committed to.
The fall of partnerships often occurs with poor communication. Though many typically start with an aim for solid communication, it falters along the way. How does one create sustainable channels of clear communication? The key is creating open, safe and positive spaces to engage in clear communication and maintaining consistency. Set up recurring meetings to open conversation around all progress and issues; don’t wait until something comes up.
A partnership founded on a poor relationship will only go so far. A collaborative relationship succeeds when it is supportive, rewarding, authentic, safe and progressive. Identify and utilize each other’s strengths, encouraging one another and creating a safe, open relationship. Focus on building trust and commitment by respecting and serving each other. At its core, a great strategic partnership prioritizes a positive relationship.
Partnerships exist and thrive because two or more parties are committed to something bigger than themselves; they believe that the reward of collaborating is greater than working alone. A partnership is only helpful if it functions as a catalyst into deeper creativity, richer collaboration and greater product than before. At every step, work to ensure that partnerships are helpfully challenging and inviting.
It’s significant enough to spend a solid amount of time on: conflict. Hiding conflict or disagreements in hopes of preserving a positive status quo in the partnership will only hinder the success and potential of the partnership. All issues and disagreements must be clearly communicated and worked through. Again, the reason for partnership is the belief that two are better than one — so both parties should prioritize the partnership above themselves.
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