What's your strategy for building industry partnerships?

I fully agree with having a solid and meaningful value proposition however more importantly demonstrating sustained value and accountability are key.

What do you bring to the table, how open are you, will the partnership be beneficial to both parties and be honest about your dealings.

One tip for landing an effective strategic partnership is to look for and connect with other businesses who service the same clients or customers as you, but not in a way that overlaps with what you offer. The two businesses need to complement the other, but not directly competing. This is at least one of the best ways I have found that can work well.

Once you have reached an agreement with a potential partner, you need to negotiate and formalize the partnership. This can be done through a memorandum of understanding (MOU), a joint venture agreement, or another type of contract. The partnership agreement should clearly define the responsibilities of each party, the terms of the agreement, and the termination process. Once the partnership is finalized, you need to manage it effectively. This includes communicating regularly with your partner, resolving any conflicts that arise, and ensuring that both parties are meeting their obligations. It is also important to regularly review the partnership to ensure that it is still meeting your needs.

Meaningful communication will always be paramount. Reinforcement of agreed details and execution plan are equally of importance.

In my experience, these are the absolute fundamentals. Without this, in my opinion, there is no partnership! Any partnership is a continual 360 degree paradigm and infinite in nature. Whilst any partnership exists, the cycle must never end.

Consistency and communication are always going to be your keys to success. In my experience partnerships work when the relationship continues to evolve and both parties maintain their connection. Check-in over coffee or volunteer together for your community or favorite non-profit. Use those moments for collaboration and out of the box idea sharing.

An industry partnership is a relationship. Build trust. Make the first ask small, so it's easier for them to say yes and make sure you deliver. Then build from there. Connect with more than one person, in case your first contact leaves that organisation. Finally, in my experience, if you don't partner with them today doesn't mean you won't tomorrow. Be respectful but try again if things change. Persistence can pay off.

Absolutely right - persistence persistence persistence! And mutual understanding of how the relationship will benefit both organisations!