Page 216 - Social Media Marketing

204 Walk Like a Giant, Sell Like a Madman

2. Business partnerships: In a business partnership, two or more
parties bring something of complementary and equal value to
the table to create a business entity that is greater than the sum
of the combined offerings of all the partners. For example,
a business manager, salesperson, and production supervisor
could form a partnership to produce and sell widgets. Each
person would bring a unique skill set that together could op-
erate a successful business. Business partnerships are the topic
of this chapter.

3. Unique business+business partnerships: Many individuals
partner to create their own businesses, but once you have a
business, your partnership opportunities can grow through
partnering with other businesses. For example, a real estate
broker might partner with a mortgage broker and title com-
pany to create a full-service, one-stop-shop for homeowners.
All you need to do is identify a common goal and a way to
generate revenue together.

Tapping the Synergistic Power of Business Partnerships

People often develop partnerships because they happen to enjoy one
another's company and work well together. I have seen successful
business partnerships develop out of friendships, personal part-
nerships (colleagues working together), and family relationships
(marriages, parents and children, and so on). Most other partner-
ships arise out of productive collaborations. Two or more individ-
uals who share a goal and realize that they have complementary
skills and resources join forces to pursue their goals together.

What I find to be most beneficial about effective business partner-
ships is that they enable you to accomplish what you never could
have accomplished on your own. Over the years, I have partnered
with several companies and individuals, including the following:

• Kinetic Knowledge, a blogging company that specializes in
designing and managing blogs for real estate professionals.