Like any healthy long-term relationship, business partnerships take time, patience, and understanding. At Juniper, we’ve been involved in many partnerships throughout the years, and learned a variety of lessons along the way. When maintained correctly, partnerships can act as one of the driving factors of success and revenue. The key is understanding how to keep the relationship healthy and flourishing, while implementing these understandings into day-to-day interactions. Below are 9 tips for achieving a successful business partnership and a couple of pointers on where to start. While reading through our suggestions, take a mental assessment of where your organization fits and which areas could use improvement—should that count as number one?
- Establish a clear and careful vetting process
Setting expectations should be one of the very first steps in establishing a partnership. Starting with varying ideologies will invite conflict and frustration into the relationship before it even begins. Set yourself up for success. At Juniper Systems, we strive to implement this into our day-to-day by referring to our list of 15 company maxims. This list of company ideals/morals help us align with like-minded companies that share similar values and goals. In addition to our maxims, we also have a partner application and clear vetting process that considers all factors, not solely financial benefit. We focus on selecting partners who will be dedicated to serving customers, represent our products well, and offering valuable problem-solving solutions. Consider the long-term benefit of being selective with the partnerships you form, and make partner selections accordingly.