Building Business Partnerships Part 1: Falling in Love

Have you ever fallen in love with another company's product or service and realized that it could complement your own business?

Maybe you saw their post on Facebook and you started feeling that connection right away, or you started reading their blog or watching their videos and something just clicked.

For now, it's a one-sided love story. So what do you do next?

Before I give you the answers, let me tell you that partnerships can change lives. Partnerships can generate enormous growth for each business, as well as some amazing friendships along the way!

It is pretty exciting stuff when you see it in action, and I’m the first one to say I love partnering with business owners. I love that “A-ha!” moment when everything connects. But the truth is, not all partnerships are created equal. Unfortunately, I learned this the hard way.

If you are truly in love with someone’s products and services and feel ready to partner, first make sure your codes of ethics are a match.

This one tip can save you a lot of time and heartache from the start.

More times than I care to mention, I fell in love with a service, product or even the business owner's enthusiasm only to find that our codes of ethics were not a match.

You don’t have to be an exact match, but if you’re looking at two very different codes of ethics, no matter how much you complement each other elsewhere, eventually things will dissolve--or worse, have negative consequences.

So how do you know what a potential partner's ethics are?

Start by asking them the obvious. What code of ethics do you and your company uphold?

The next step is to do some research. Depending on what's most ethically important to you, you can:

• Ask for other partner references.
• See if they are listed with an agency that rates businesses, such as the BBB.
• Take notice of what their employees are like and what they are saying about the company.  
• Review the company’s testimonials.

Identifying an ethical match builds a great foundation so you can move forward with a business you love.

But there is so much more!

In Part 2 you will learn the one thing that so many overlook when building partnerships and how to create a momentum with it.

In the meantime, share with your code of ethics with us below, and let us know what companies you have fallen in love with!

Because You’re Worth It!

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