Whether you call them strategic alliances, joint ventures, or Power Partnerships, they all have the same potential benefits: a more joyful life and exponential business growth. When you ask any successful person what the key to their results was, they will reply, "Others who helped me."
Why create Power Partnerships? Three reasons:
* You need not do it alone. Whether at home or at work, Power Partners allow you to focus on your areas of strength, interest, and passion;
* You can solve the problem of too much to do and too little time; and
* If you hate sales and marketing or are tired of networking, you can still create a successful business or career by creating "all-win" Power Partnerships.
What are the steps to creating Power Partnerships?
First, know yourself. Build a "Partnership With Self." Identify and focus on your strengths, passions and purpose - the foundation of a joyful life and a rock-solid business!
Second, define your ideal target client and market niche--those you wish to serve and who you can serve the best. Write the specific demographics and psychographics or your ideal client. Ask yourself the question, "If I had to choose between x or y, which would I choose?" Narrow your market. By specializing, you become even more valuable in the marketplace. Present your unique difference, and your clients will appreciate your value and pay even higher rates to work with you.
Third, once you are focused on your strengths and passions and know who you can best serve, identify and make a list of your prospective Power Partners. There are three types of Power Partners to seek out:
* Those who can fulfill a business need you have, particularly in an area that is not your strength or interest;
* Those who can help you increase your sales and reach; and
* Those who can provide support and accountability to help you grow.
Oftentimes, Power Partners provide products and/or services that are complimentary to yours, and target the same market that you do. They may also be established in markets that are new to you, which will in turn allow you to expand your offerings.
Fourth, be pro-active in your attempt to create a Power Partnership. Before you contact potential Power Partners, do your research and preparation. Who are all the players who may be involved in the decision to partner? What are their potential needs and pains? What can you offer them? How are you unique? What is the best way to reach this prospect? Begin your Partnership process by explaining your "end in mind"--a Power Partnership that is of mutual benefit. Set the stage for a creative and collaborative process. Succinctly share the potential problems you can solve or gains and benefits you can provide, and then ask them to explain how they perceive the value of your offerings.
Fifth, learn the proven GROW Partnership model (*see below) and ask questions regarding each aspect of the model. The key to a Power Partnership is to fully understand all you can about your prospective partner, and asking is the best way to learn. Peel the onion. Ask, ask, and ask some more.
Sixth, present your offer based on what they have shared. Address only those aspects of your product or service that pertain to and are of interest to your prospective partner. Keep it as simple as possible. Provide options from which they can choose, and an easy way to try out the Partnership.
Seventh, ask for feedback. How do they feel about the Partnership? What are the areas of most interest and value to them? What is the Potential impact? Are there any concerns or questions? Address their needs. Cement the partnership, and then congratulate yourself for creating a Power Partnership that will lead to growth for all parties involved!
