Jill Young, MBA| Traction First, LLC Choosing the Right Partner: Ask the Hard Questions First

Objective: 1. Create a template for a PARTNERSHIP POSSIBILITIES Agenda 2. Demonstrate the difference between SMART and HEALTHY

Competitive Advantage Why do we create partnerships?

SMART and HEALTHY Smart is…. – Technology – Strategy – Finance – Marketing – Decision Science Healthy is… – Minimal Politics – Minimal confusion – High level of morale – Low turnover of the right people

How is your company SMART and HEALTHY?

Customers Employees Vendors Industry Start with WHY vs. WHAT

Who attends? Who runs the meeting? Objective agreed to? Open and honest Whiteboard or flipchart Ground Rules

Check in: – 30 min Company Presentations: – 1 hour Issues: – Culture – 1 hour – Strategic – 1 hour Decide: Go – No Go Next Steps: Conclude: Agenda

Good News Why do you want to do this? What concerns or obstacles do you see? The Check in:

2 min HISTORY 2 min CORE FOCUS of your company within the industry (what you do and do well) 2 min on where you are going – GOALS or BHAG 10 min on CULTURE (core values, people policies, turnover, training, leadership mentoring) 10 min on SWOT (Strengths Weaknesses Opportunities Threats) Company Presentations

1. Core Values? 2. Core Focus? Year Target? 4. Marketing Strategy? 5. 3-Year Picture? 6. 1-Year Plan? 7. Quarterly Rocks? 8. Issues? What if one or both companies are “stuck”? - 8 Questions

ISSUES Share and list No discussion or debate yet

Prioritize 1,2 and 3 I – Identify (Who, What, Does it go deeper?) D – Discuss (get clear) S – Solve (get comfortable) If its still an issue – leave it there, if not, erase it. Culture and Strategic issues:

Go – No go – just the one word Just a decision to move on to the next step A way to take a pulse on the whole group Decide:

What do we need to know/do before the next meeting? – Assign “to do’s” that came out of the discussions – Decide on “teaming” – but assign an owner. Next Steps:

How are you feeling? Biggest Advantage Biggest Obstacle Conclude:

Adding a new product or service – Ask why…. – Is it within your purpose and niche – Would it serve the same customers Bringing two or more service providers together Adapt the Agenda for other uses….

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