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Partnership Myth 19: Having a formal written agreement will make the partnership more complex

A written agreement doesn’t make the partnership complex. A complicated, convoluted, intricate written agreement that partners don’t understand is what makes the partnership more complex. One of the challenges leaders experience when formalizing a partnership is determining the type of agreement needed to facilitate the partnership objectives (e.g., memorandum of understanding, service agreement, etc). Another […]

Partnership Myth 18: Having a formal written agreement will ensure better performance and communication

Do you think that even the most articulate marriage contract would guarantee harmonious relationships, where partners communicate clearly and perform better as spouses? Not a chance! Contracts and other written agreements are tools to facilitate the partnership process. They are designed to clarify roles and expectations, and facilitate communication and performance. They don’t guarantee it. […]

Partnership Myth 17: All partnerships should be formalized and have written contracts

Do you require all of your family, friends and colleagues to sign an agreement outlining the terms of your relationship? Of course not. Written contracts are tools that can be used by partners to help facilitate the partnership process and meeting the partnership objectives. Written documents help to outline the results, roles, responsibilities and terms […]

Partnership Myth 16: Funding reports are a waste of time

Receiving funding isn’t a right, it’s a privilege! Doing the paperwork is part of the fair exchange for receiving funding from external organizations. It’s how you earn the right to play the funding game. Reports help the partnership because: • your partners are held accountable for results, actions, deliverables and timelines • they clarify roles […]

Partnership Myth 15: Partners should be able to communicate clearly with all stakeholders

Partners should be able to recite the vision and mission of the partnership with energy and enthusiasm to anyone who asks. Beyond this, your partners become finely tuned instruments designed to deliver specific messages to specific stakeholders, based on their expertise and backgrounds. Do we expect every partner to speak more than one language? No! […]

Partnership Myth 14: The partner that holds the money should run the show

The process for selecting a leader for your partnership can stop a partnership before it even starts. The process can be so uncomfortable that partners default to generic criteria. “The leader should be the one who: contributes the most money and resources; is the largest organization; has the most to lose; or who has the […]

Partnership Myth 13: We should always try to collaborate

Not true. Within partnerships, not every task requires people to collaborate or work together. Some tasks are more efficiently and effectively completed in isolation. Involving more people, taking the time to learn how to work together, in order to complete a task or goal, could be a waste of time and use up scarce resources. […]

Partnership Myth 12: Conflict and confrontation should be avoided

Conflict and confrontation help develop healthy relationships and partnerships. If done in the right context, conflicts and confrontations can provide you with essential gems for growing your partnership and solving problems. For example, if you want your kids to tell you the truth when you ask them a question, you have to be prepared for […]

Partnership Myth 11: Trust will develop naturally

Trust doesn’t happen by accident, regardless if you believe if it is ‘given or earned’. Trust is built more effectively when you have a specific and purposeful trust building strategy. People have their own rules and beliefs about trust. People have their unique definition of trust. People experience feelings of trust differently. People gain and […]

Partnership Myth 10: We don’t need to spend time developing relationships

One of the most important investments leaders make to ensure the success of their partnership is to develop strong relationships among the partners. Do you do business with people you don’t respect? Do you refer friends and colleagues to service providers you don’t like? Are you transparent with leaders you don’t trust? Do you communicate […]