How often have you heard the phrase “it’s not what you know, it’s who you know”? While we’re not encouraging nepotism here (!), we do believe there is a real power in creating partnerships across your work and in your life.
Growing an entrepreneurial idea into an enterprise takes work, as well as support from all kinds of stakeholders: friends, family, customers, mentors, and more. Partnerships can provide more than a financial investment in your business - they can lead to new opportunities, boost your growth, and introduce you to even more people who can support your work.
This post is inspired by our newest partnership, with the Ethical Influencers community. With over 500 members worldwide, Ethical Influencers supports creatives who champion sustainability and positive social change. They focus on enabling creators to improve their content, connect likeminded influencers together, and enable brands to discover new people to work with based on their values. We’re delighted to be working together to reduce stress and anxiety across their diverse membership base, and support their work in championing a more sustainable vision for the future.
Read on to explore the benefits of taking up partnerships, as well as ways to create your own.
The power of partnering with people and enterprises
Unlike a ‘business partnership’, where you set your business up alongside a partner, in this post we’re focusing on mutually beneficial partnerships between entrepreneurs and enterprises.
At Calmer, we have a number of partners who provide collaborative wellbeing services and insightful content. These partnerships have come about after meeting with each business through our work, and recognising their similar approach, as well as the benefits we can share, or offer each others’ customers.
Through partnerships, we are able to create events, have our content shared to a wider audience, and benefit from the expertise of each business. This is incredibly valuable, and often it’s something that money can’t buy either. It’s why forging partnerships can be an incredibly impactful way to grow your business, but requires time and scrutiny to ensure the partnership will be a good fit.
Benefits of partnering with likeminded organisations
There are many benefits to partnering with likeminded enterprises, including:
Business support
Financial gain
Exposure to new potential customers
Improved experience for your customers
Mentoring
Networking
Recommended connections
Reputation building
How to make worthwhile partnerships
In order to make strong, fitting partnerships, it’s important to ask yourself a few questions before proposing partnership.
At its core, each partnership revolves around an exchange. Often, this exchange is one that you do not offer publicly - be it business mentoring, content auditing, business introductions, etc. - and in return, you receive something equally beneficial.
Partnerships can grow and accelerate a business through the new opportunities you are suddenly presented with, as well as useful advice and feedback that you may not otherwise gain from your customers or audience. You can also begin to gain support for your business without any financial impact, and in return offer something that is less costly to you (for example, your time, or exposure to your audience).
In order to create a worthwhile partnership, consider asking yourself the following questions:
What do you hope to gain from partnering with this business?
What will the business gain from partnering with you?
How long will your partnership last for?
By what means will you communicate across your partnership? How often will this be?
Does this partnership require a written agreement or contract?
Do you require exclusivity or a non-compete for this partnership?
Understanding the scope of your partnership, and the processes required to make your partnership run smoothly, are crucial. Communication, commitment, and mutual benefits are the keys to success!
Ready to get started? Why not join the Calmer Community, where you can connect with likeminded entrepreneurs and business professionals, and boost your network, as well as your mental health and wellness.