Why Partnerships Fail
Last month, The Methodology Blog discussed the value in partnerships. We highlighted the top five ways that help determine whether or not a partnership is right. Today, we’ll discuss what happens when partnerships fail.
In a two-part series on partnerships, Robby Slaughter contributed a second post to Maverick Public Relations’ blog. This time, he discussed why partnerships fail and how they can be redeemed. Though joining forces often times make sense, it does not guarantee a well-working relationship. According to Slaughter, there are several reasons why these arrangements fail:
Shifting, Not Sharing—We sometimes think of a partnership as “divvying up” the duties . . . but a partnership isn’t about shifting responsibility, it’s about sharing responsibility. Accept that there will be challenges and that agreeing to work together means acknowledging that you will tackle problems as a team.
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Communicate and collaborate – Just because the partnership documents make it possible for you to work together doesn’t mean you are actually speaking openly about your business plans. Talk through all possible scenarios. Identify what could go wrong. Show trust by volunteering ideas that benefit you and offering to close loopholes. Work together by talking things through.
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Strategy and Stakeholders– Just because a partnership makes sense today doesn’t mean it’s going to be perfect forever. Not only do the organizations need to plan for the future, but they must involve those people in their community affected by the partnership. That might include customers, suppliers or other officials. Get connected with the stakeholders that power your partnership, and make sure you have a road map to ensure their future in your agreement.
Don’t allow a partnership to turn sour. Contact Slaughter Development today to learn more about ways you can improve workflow, increase productivity and foster proper communication.
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