If your nonprofit or social impact organization is considering working with potential partners, keep in mind that partnership opportunities can range from cooperation or collaboration through full integration or merger. It’s important that you and your Board first clarify your rationale for seeking out partnering organizations. By doing so, you will help to ensure greater strategic alignment with any organization you choose to approach.
Once you’ve determined your reasoning to establish a partnership with another organization, it’s important to fully engage your partner – create explicit opportunities for both organizations to contribute to development of ideas and solutions, and participate in decision-making processes. Moreover, realize that building partnerships can take time. It would not be unusual for you to call and exchange information for months before a new partnership yields tangible results, such as funding for a joint project.
The most successful and long-term partnerships are the ones that involve a real relationship between the partnering organizations. Passion for the mission and commitment to mutual benefit are key factors. From our consulting work with nonprofit and social impact organizations, we have identified Top 3 Partnership Success Factors:
• Executive involvement (senior leadership and/or executive “champions”)
• Strong working relationships
• Strong board involvement
These factors often lead to the preservation of relevant services or programs, improved image or reputation, and greater long-term financial stability. Furthermore, if mutual gains are identified at the onset of the partnership, this can result in better organizational and program alignment.
To learn more about how to assess new partnership opportunities for your organization or strengthen your existing partner relationships, contact me HERE. This article is a summary of my recent workshop at The Foundation Center in conjunction with Nonprofit Specialists on the same subject.
Showing posts with label partnership. Show all posts
Showing posts with label partnership. Show all posts
Monday, November 30, 2015
Monday, October 18, 2010
NEW Podcast: Find a Business Partner Who Won't BLEEP You
So, you've probably figured out that in today's New Normal you can't do it all alone. Whether you're seeking to advance your professional career, expand your business, or launch your new "side hustle," building relationships is crucial to your future success and sustainability. Your ability to develop strategic alliances and identify new partners will determine how well you're able to enter new markets and industries, find new opportunities, and really stay afloat.
In business (as in life), relationship building can be a tricky process. We know when it works, you can't wait for the next project or opportunity to work together! And, when it doesn't work, you can't wait for the project to end - hoping never to work with that person again! We've all been there - it all sounded great in the beginning ... but somehow, things changed and what you THOUGHT was going to happen, didn't. And, now you're left wondering how you got there in the first [*!#] place.
The trick with business relationships: How can you find a partner who won't [BLEEP] you?!
In this podcast, you'll hear my discussion with Nina Kaufman, owner of Ask the Business Lawyer, and author of The Entrepreneur's Prenup: How to Choose a Business Partner Who Won't [BLEEP] You. Nina is an award-winning business attorney, sought-after professional speaker and online columnist for Entrepreneur Magazine.
From our conversation, you'll learn how to select the right alliance partners, and when you should have written agreements. You'll also gain some tips on how to avoid the emotional and financial pitfalls of doing business with a friend or family member. In the end, ideally, you each want to be able to benefit from the other's skills, talents, resources and connections. In life, there are no guarantees; but we hope this podcast may help you save some time and aggravation.
Take a listen, and let me know what you think. Have YOU ever been [BLEEPED] by a business/alliance partner? Share your comments and BLEEP experiences here -- or tweet me on Twitter.
In business (as in life), relationship building can be a tricky process. We know when it works, you can't wait for the next project or opportunity to work together! And, when it doesn't work, you can't wait for the project to end - hoping never to work with that person again! We've all been there - it all sounded great in the beginning ... but somehow, things changed and what you THOUGHT was going to happen, didn't. And, now you're left wondering how you got there in the first [*!#] place.
The trick with business relationships: How can you find a partner who won't [BLEEP] you?!
In this podcast, you'll hear my discussion with Nina Kaufman, owner of Ask the Business Lawyer, and author of The Entrepreneur's Prenup: How to Choose a Business Partner Who Won't [BLEEP] You. Nina is an award-winning business attorney, sought-after professional speaker and online columnist for Entrepreneur Magazine.
From our conversation, you'll learn how to select the right alliance partners, and when you should have written agreements. You'll also gain some tips on how to avoid the emotional and financial pitfalls of doing business with a friend or family member. In the end, ideally, you each want to be able to benefit from the other's skills, talents, resources and connections. In life, there are no guarantees; but we hope this podcast may help you save some time and aggravation.
Take a listen, and let me know what you think. Have YOU ever been [BLEEPED] by a business/alliance partner? Share your comments and BLEEP experiences here -- or tweet me on Twitter.
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