The key is winning partnerships where you create a synergy effect together with someone, or several people, making 1+1+1=10. Let us say you have a business idea within health care and you start marketing this. Nothing happens. Perhaps you need to work with a PR agency, a web designer, a newspaper, etc. to reach out to those you are looking for. Is it better to have 100% of $0 or 80% of $100,000? You and I already know the answer! Despite that, very few choose to share the profits with others. Instead of creating more success they choose to have no profit at all.



Partnerships with other people and companies will strengthen both yourself as a person and your business, if you have one, and create more success. When you shall create a winning partnership it is very important to pick the right partner. This should be someone who can do things better, cheaper or faster than you can and help you reach your goals.

Most companies that succeed have a number of partners they co-operate with, where all parties benefit from the partnership. However, many companies fail due to the resistance of sharing the profits with others. The question is; which way shall you choose?

If you choose to co-operate it is very useful to have a contract with your business partner that regulates some kind of royalty or commission to your partner, if he/she helps you succeed. This kind of partnership will attract co-operations since your business partner really believes in you succeeding, otherwise he/she would have chosen getting paid a lump sum for his/hers services. Is there a better acknowledgement that you are on the right track, without having to pay anything until you create success?

So, what can you do?

Exercise:

1. Find areas you need to have in your business but do not have the competence yourself or the time to develop or perform.

2. Find a company or person that has this competence

3. Decide only for business partners where there is a win-win situation

4. Do not postpone this. Contact the person or company already today

5. Evaluate different partners to find the one(s) that best suit you

6. Define what you bring to the table, i.e. what can you do for you partner, and present this to him/her. It can be a piece of the cake, i.e. a percent of the profit when you succeed, but it can also be other services that you can offer the other party. Do not be to humble about your own strengths.

When you have started a partnership, do not to forget to evaluate the situation before and after. Have you created more success with this partner or not? If not, try to find another partner that suits you better.