Are Your Business Partnerships Hurting You? — Image Credit: Shutterstock

Whether you represent your own business, or you hold a corporate responsibility, your company thrives on good business partnerships.

When these are healthy, they can be powerful in helping you leverage your business growth.

But if you have a business partnership that isn’t smart, it can actually damage your business and professional reputation.

How can you tell whether yours are hurting you?

Here are Five ways to assess your business partnerships.

1. Is the business partnership purpose-driven?

Does the partnership move you closer to your vision and goals? Many partnerships are founded on fleeting fancy.

“It seemed like a good idea at the time,” bemoaned one executive. “But the energy it requires has really steered us off into left field.”

If a partnership isn’t supporting your ultimate purpose, you are choosing to compromise your endeavors for the sake of shiny objects. Time to get tough.

2. Is the business partnership a positive experience?

Is it enjoyable and easy to work in this partnership? Or does it feel like a struggle each time you interface with one another?

If you dread that next meeting or interaction, ask yourself what lies underneath. Is it simply a matter of learning to communicate differently, or are you just not a fit for one another?

3. Is the business partnership productive?

Are you seeing results from your partnering? Or is the relationship one long conversation leading to another without any real action or outcomes? If you are holding space for a business partnership that does not yield results, ask yourself why. There may be a conversation that needs to take place to see how to produce.

4. Is the business partnership mutually beneficial ?

Can the partnership equitably benefit both of you? Are you and the other party well-positioned to be able to contribute to one another?

Many a partnership has been formed out of mutual appreciation – and not because they can truly benefit one another in some kind of equitable manner. If this is your case with a particular relationship, you may want to adjust how much time and effort you devote to it.

5. Is the business partnership an edifying one?

Does this partnership reflect highest integrity? How can you trust this? If you haven’t done your research, do so before committing to the association.

Does the partnership add value to both parties? If you and the other party are “better together,” or the better for having associated, then the answer is a resounding “Yes!”

Make sure your business partnerships are smart, productive, and trustworthy – and that those who partner with you can say the same of you.

HOW MUCH

DO OTHERS REALLY TRUST YOU?

Learn the two vital parts to trust and how they can help you become a more highly effective leader.

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Patti Cotton

Patti Cotton reenergizes talented leaders and their teams to achieve fulfillment and extraordinary results. For more information on how Patti Cotton can help you and your organization, click here.

You are a purpose-driven professional. And you have a big vision.

But life and work don’t feel congruent. In fact, things are hard.

Is being purpose-driven overrated?

That depends.

You may not know how to use your values to guide your purpose. Here are three reasons why this might be happening:

1. You don’t know your values.

You have set your vision and your “why,” but you haven’t identified your core values – the GPS by which you will guide your purpose. Without this, your efforts can become misaligned. If you haven’t done this yet, click here for the exercise I use with my private clients.

2. Your values are in conflict with each other, and you don’t know how to reconcile this.

When values conflict, this means your priorities are competing with each other. This means sitting down and writing out what is important to you, and making some tough decisions. As they say, you can have it all – just not all at once.

3. You aren’t using your values to fuel your purpose.

You’ve gotten busy, and let distractions take over. You’ve neglected to check in regularly on all areas of your life to see if your priorities align with your values. Don’t feel guilty – get going. Start today.

Where in your life do you need to realign? What is your first step?

Patti Cotton

Patti Cotton reenergizes talented leaders and their teams to achieve fulfillment and extraordinary results. For more information on how Patti Cotton can help you and your organization, click here.