Supercharging Your Business: The Synergistic Power of Partnerships and Collaborations

Did you know that partnerships and collaborations can supercharge your business?

That's right, the synergistic power of partnerships can not only help you achieve your goals faster but also save you money. Join us as we dissect this topic and give you actionable insights on defining collaborations, selecting the right partner, and understanding your target market. We'll also tackle the necessity of honesty in these relationships, and how mutual understanding of each other's goals can make or break your partnership.

We unveil strategic techniques on how to research potential collaborators, ensuring they have the right capabilities and market position to benefit your business. Plus, we'll share insights on setting clear expectations upfront, preventing misunderstandings, and avoiding exploitation. So, strap in and get ready for a deep dive into the powerful world of partnerships and collaborations!

👓Listen to our "Friends With Business" Podcast to start your journey to financial prosperity.
Check our social media pages to be updated on the latest buzz.

FB: https://www.facebook.com/prototype7/
IG: https://www.instagram.com/friendswithbusinessespod/
YOUTUBE:https://www.youtube.com/channel/UCPFpSdcYetwBsAmsbLpYUPA

I will help you unleash your potential in entrepreneurship and accomplish your financial goals.
Join our FREE 💯 community for entrepreneurs! 👉🏾 https://bit.ly/3y0vGMY!

🟡🟡🟡🟡🟡🟡🟡🟡
#Friendswithbusinesses #launchwithcarl #learnfromahacker #podcasting #spotify #music #comedy #itunes #motivation #podcastshow #newepisode #podernfamily #spotifypodcast #googlepodcasts #podcastinterview #podcastseries #comedypodcast
#businesspodcaster #powerfulmotivation #growthmindsetcoach #achieveyourgoal #businesswomenlife #bossbabe👑
#smallbizowners #changeispossible #onlinebusinessowner #mindsets #embracethejourney #positiveliving #achieveyourgoals

Support the show

Visit www.FriendsWithBusinesses.net to learn more about the podcast and the business.

Follow us:
FB: www.facebook.com/prototype7
IG: www.instagram.com/friendswithbusinessespod
YOUTUBE: www.youtube.com/@LaunchWithCarl

I'll provide you with the vital foundations so you can leave with solid strategies and increase your ROI.
Join our FREE 💯 community for entrepreneurs! 👉🏾 https://bit.ly/3y0vGMY!"

Get booked as a guest: Go to this link - https://forms.gle/r89M3QC9QsvRm7vG7

Episode Transcript

Speaker 1 (00:00):
Make sure that you know how they can help you,
because nobody wants to be in aone sided relationship.
Find out what it is that theirgoals are and see where you fit
in on that.
What's good at everybody?

(00:20):
I think I'm live.
So today I wanted to talk aboutpartnerships and collaborations
.
Right, I feel it's very, very,very important in business,
especially in the onset, and sodon't want to.
You know I haven't had to gotoo long, it's almost midnight.
But I want to talk about numberone, the benefits of

(00:42):
partnerships and collaborations.
And then, how do you actuallyget the right partner?
You know, get the rightcollaborate, get the right joint
venture.
We're moving forward withsomething, so where does it talk
about?
You know what exactly is acollaboration?
What is a partnership?
Not dictionary definitions,just working definitions.
You know, a lot of people knowme I love dictionary definitions

(01:03):
, but in this case I'm justtalking about working
definitions, you know.
You know, basically it's whentwo companies, organizations,
entities, they come together, inmost cases on a temporary basis
.
Even if it's a long temporarybasis, they're not actually
combining companies.
They actually have similarinterests or they have a similar

(01:25):
market or just different.
You know different ways thatthey see a benefit and they come
together with an agreement tobenefit both parties.
Right, it's not you know oneparty only.
You know there's not a hostiletakeover, not an acquisition.
It's a partnership of visions.
You know two people withsimilar, or you know cohesive or

(01:47):
parallel visions helping eachother to achieve those goals.
And so today I want to talkabout you know how exactly you
define those, how to find theright ones.
For me, when I'm looking for apartnership, what I look for are
companies that have similartarget markets.
That's why it's very importantthat you understand who your

(02:10):
target market is.
I'm going to be doing achallenge next month about
finding your perfect customerand your target market, but when
you know who that is, it'seasier for you to find out who
you can partner with, who youcollaborate with.
It's like, hey, I'm looking atthe same people that you're
looking for.
We're providing two differentservice or two complementary
services, or even sometimes thesame service.

(02:32):
You can actually havepartnerships and collaborations
with people that you're incompetition with if it can grow
both of you.
You know there was a time whenBMW and Toyota collaborated
because they both needed whetherit be the technology, the
processes.
Eventually, you know, it wasbeneficial to everybody.
So when you're looking at acollaboration, what I always

(02:53):
encourage people to do is don'tjust come saying what you can do
or what you can do for somebody.
The first thing you want to dois come with an understanding of
their goals and their vision.
When you have that type ofunderstanding of where they're
going, then you can kind of seewhere they collaborate, where
they actually have synergy sothey can grow together.

(03:14):
Unfortunately, a lot of peoplethey come and they have and if
you've ever read, you know footeight laws of power.
You know not to come, you knowas like, hey, I'm this almighty
person who come and help you andsay what you're doing or give
you everything that you need.
You don't want to do that.
You don't want to come in.
You know, honestly, humble,saying, hey, I see what you're
doing, this is where I seeyou're going and allow them to

(03:35):
even correct you.
When you're saying, hey, look,it's like you're trying to grow
your business in this direction.
Listen, you know it's not quiteit.
Listen for that so you canunderstand, because the whole
golden collaboration especiallywhen it's successful, it's going
to be a win-win, a mutuallybeneficial relationship.
When you're collaborating withsomebody or having a partnership
with someone find out what itis that their goals are and see

(03:59):
where you fit in on that.
You know you don't ever want totake them in a different
direction than one going.
That will be resentment.
You don't ever want to put themin a position where they feel
like they're losing out.
Of course you both want to winLike.
You don't want to come in andsay, hey, I'm just going to do
for you and I'm not going to getanything else out of it.
Don't act like the motive isfully altruistic, because in

(04:20):
most cases it is not.
You know you're not coming inand treating them like a charity
.
You're treating them likeanother business.
So when you're looking atsomebody that you want to
collaborate with, talk to themabout what it is that their goal
is and then, once you do thatand you get the full clarity of
it, you have an understanding ofit.
You talk about what you can doto enhance Again, enhance what

(04:45):
they do.
And then, as you do that thatthat point you pretty much sold
them on what you can do and ofcourse in the back of their mind
they're wondering okay, so whatthey want for me, what they
want for me.
What are they want for me?
They want, they know that youwant something, so be honest in
upfront about it.
Say, hey, you know, I honestlythink that I could benefit from
you by whether it's you know youhave a larger audience and you

(05:07):
have a larger following than me,or you know you have this
technology that I may be able touse, or you know you can
provide this service for myclients.
You know, in addition to whatyou're providing for them, you
know, at a lower cost, or youknow just, or whether be
licensed in deal, whether it besome type of you know,
collaboration or growth anddeveloping something together.
But when you do those things,that's how you grow together and

(05:30):
you begin to instead of having,because in many cases, if
you're not part of with somebody, you have to create things All
on your own.
You're having to pay for thingsall on your own.
So what I recommend is, whenyou're doing that is um is, make
sure that you know what isnecessary to work together with
people.
So think about it.
You know, I mean you put it inthe comments now.

(05:50):
What type of things are youlooking for in your business?
What do you need?
What type of?
Is a certain audience thatyou're looking for?
Is there a certain product?
Is there a certain service?
Is it something that is lackingin your business that you will
help with?
I mean, I personally I'm alwayslooking for partnerships and and
collaborations with people.
You know, if you want topartner, collaborate with me,
you know, so set up a time totalk.

(06:11):
Matter of fact, we put my stuffin the bottle.
I forgot to do that.
So the job, if I don't have ahow to how, let me know so I'm
easy to reach and all that, thisstuff.
But you know, you know, I likethe partner with, like right now
I'm looking at different civicorganizations, changes of
commerce, you know, uh, anyeconomic development

(06:31):
corporations, things like that.
You know, to take my programsto them, because I know a lot of
them have Businesses that aregrowing or they're small and
they kind of staying small andthey're looking to expand, and I
know that we can definitelyhave collaboration, partnerships
with that.
You know, away from schoolsystems to, you know,
governments, you know workingwith them to grow these things.

(06:53):
So that's about it.
That's one one one.
What I really wanted to talkabout is you know, what is it
that you can do for partnershipsand collaborations.
So number one, as I said, fivecompanies that have similar
target audiences, similardelivery and similar ethos is
around who and what they serveand what they bring to the table
.
Then know them, you know, studythem, know what it is about

(07:18):
them that makes them take.
At that point You're able tosay, hey, I can help you here, I
can help you there, and whatyou're trying to accomplish.
As the great Zingo says, youwould have anything said.
You can have anything in lifethat you want if you help others
to get what they want.
I'm in that position right now.
My goal is to help as manypeople as possible and

(07:40):
businesses as possible to grow,because I know, in turn, don't
get me to where I want to be,you know.
And the last thing is make surethat you know how they can help
you, because nobody wants to bein a one-sided relationship In
business.
You want, they want, you want,they want to know that they have
value to you as well.
If they don't feel like theyhave value to you, they don't

(08:01):
feel like they do or somethingfor you, then that can even make
a relationship contentious.
So you don't want any of thosethings to happen, so you know.
So, again, when you're trying tofind a right collaborator,
there's so many factors that cancome to play in sports.
Yes, I'm using my notes, I know.
So you know, consider theirexperience, consider their
skills.
You want to make sure thatyou're kind of on the same level

(08:23):
.
Otherwise you may want to beyou know you may.
If they're on a much higherlevel than you, you may want to
pay for this service.
I'm much lower than you.
Then you may want to.
They need, may need to hire youbecause it may take away from a
mutually beneficial situation.
Right, make sure you havesimilar values and goals.
I'm Understand theircapabilities within your

(08:45):
industry and also understandtheir market In in their
industry as well.
You know you want to see wheretheir position, what things do
they have benefiting them thatcould benefit you.
Again, if it's a largefollow-up, a certain technology,
if they are, you know they mayhave something that you're
lacking, like, for instance.
You know there's some.
I don't.
I don't have my own podcast, soI go on other people's podcast.

(09:07):
You know I let them know.
These are the topics I canspeak of to help you.
In turn, I would like topromote x, y and z that I'm
doing, um, so yeah, uh.
So you know, check, you know,make sure they have a good
reputation, um, because you knowyou would hate to be
collaborating with a companythat had a negative reputation.
You know bad.
Yet reviews all I guess thevdr's really horrible thing and

(09:29):
again, set those clearexpectations up front.
Let them know what they canexpect from you and you need to
know what you can expect fromthem.
I always recommend anypartnership collaboration,
getting it righty, because youdon't want any misunderstandings
, you don't want people to thinkyou're saying one thing or
you're not, and you also want tobe able to level set

(09:51):
expectations properly.
So, yeah, when you're lookingfor the right collaborator, just
make sure that your eyes areopen and you know what you bring
to the table.
One of the worst things you cando is look for partnerships and
collaborations just because youneed them.
I'll say that again One of theworst things you can do is look

(10:14):
for partnerships andcollaborations just because you
need them, just because there'ssomething missing in your
industry or in your company.
At those points, just pay forthe service, because you don't
want to be out there takingadvantage of people and what
they can do and what they havewith their services.
Make sure that what you'reoffering them is valuable to

(10:38):
them.
Just because it's valuable toyou and it's what you put
forward and what you're great atdoes not mean it's what is
valuable to them.
So I hope that everybody'staking notes.
Since you have any questions,comments concerns metaphysical
speculations or even a designpartner with myself and my
company, please feel free toreach out.
I've been prettystraightforward on the things

(11:01):
that I do.
If you have any questions, Iactually did a video on Sunday,
which is yesterday, abouteverything that my companies do,
so that you'll be able toreally understand it and have a
good understanding of what.
If you wanted to come to thetable and talk to us, how we can
help you.
Hej.