Harmony with Your Partners

Your business partners – by definition – are those with whom you make money together. More precisely, those, whom you need to make money. Obviously, if you want to build a harmonious relationship with your partner, the latter also must need you to make money.

Software vendors need distributors, dealers and sometimes systems integrators to sell their products; manufacturers of consumer goods need retailers (larger ones will also need distributors, exporters and importers); commercial banks need other banks to provide a large syndicated loan to a large customer.

From your partner you need – first and foremost – money. Sales, profits and cash flows which constitute financial value.  You also need a partner to perform vital business functions – like delivering your product to the end user and to make the actual sale (functional value).

Why would you need a partner – and not perform these functions yourself? Because it saves you money (financial value again). It is simply cheaper (sometimes far cheaper) to outsource these functions than to develop the necessary infrastructure yourself.

And, obviously, you would want to be treated well and thoroughly enjoy working with your partner (specifically, to be treated well). This is emotional value.

Your company essentially mirrors all this for your partner. You generate sales, profits and cash flows for the latter, creating financial value. You perform functions that your partner can not do (or which are simply impractical for him/her to do), creating functional value.

And you treat your partner well and generally make your partnership enjoyable for your partner, creating functional value. The latter, obviously, calls for designing and executing efficient communications campaigns aimed at your business partners.