Working with Business Partners – How to Make a Partnership Succeed

Teaming with Your Business Partners

In today’s world succeeding at a high level is a challenging task. Reaching beyond this level can be daunting with new risks and hurdles encountered every day. One way to help reach the potential that is outside of your organization’s immediate walls is utilizing your external business partners. These partners (agent/broker, banker, accountant, surety, vendor, insurance company, etc.) as an extension of your team strengthen your business and provide resources that can help reach greater heights and potentially provide guidance during tough times.

Good two-way communications amongst your team is key both internally and externally. Your partners are in business to help your company succeed and work to reach your goals. The more open and honest these communications are the better the long-term payoff can be. This is more than just a one-time discussion or done just at the start of a relationship. Rather it’s an ongoing flow of information and conversation. As your needs change the partners working with you should be kept up with these changes as they continue to look to help where possible.

These partners however can only help in what they know and being left out or having old information as time goes on can lead to breakdowns, frustrations and even the possibility of a lack of trust on both sides. Like any relationship there may be bumps in the road. Being able to have candid conversations is healthy in any relationship and can lead to a stronger bond with your extended team.

Your partners are there to help your business succeed. Keeping them updated with key information, changes and plans are good habits to employ and is an important step in helping your team achieving your ultimate potential and overall company goals.

Jeff Kesselring – Liberty Mutual Surety Consultant II