You've Got a Friend in Me

How strategic partnerships can be mutually beneficial.

In an age of niches and specialties, it seems like everyone has an area of expertise. This idea of filling a specific need is ingrained in many small businesses. How else can you compete against the big guys who offer it all? This is great when your clients want exactly what you have to offer, but what happens when a client needs what you can’t provide? Instead of trying to fill a void that you’re not equipped to fill, why not partner with someone who you know can do the job.

Recently, a colleague of mine called me to partner with him on an event. Since we are in the same industry, our sharing clients may seem strange to some. However, we both have the foresight to realize that one company may be able to offer what the other cannot. After years of planning this annual event, the client decided that they’d like to be more strategic in the generation of collaterals and themes around the event. My team was able to use our experience in marketing to provide the client with elegant, branded materials and an eco-friendly alternative to standard paper invitations – something that was very important to this “green” client. His company still provided the client with the event planning and logistical support that they required.

He was able to maintain the long-term relationship he had with his client, while freeing up time to work on other, ongoing projects. Ultimately the customer was satisfied and the partnership was a great triumph.

Of course, working successfully with colleagues takes trust, clear boundaries and a mutual benefit. Beforehand, we drafted an agreement to ensure that our collaboration would not only be successful, but also ethical. Creating this type of contractual agreement prevents miscommunication about responsibility and compensation.

As a project manager, I have often relied on the expertise of colleagues to provide my clients with what they need. As a business owner or manager you have to embrace your strengths, but you also need to realize when someone else might be able to do the job better. Instead of turning the client away or trying to do something you are not skilled at, try building relationships with a network of trusted allies and have the ability to be a full-service provider for your customers. 

Have you partnered on work with another company? What was the result? Do you have recommendations for how partnerships can be lucrative?