PKF Texas – Entrepreneur’s Playbook®: Community Partnerships

by | Mar 11, 2011 | PKF Texas - The Entrepreneur's Playbook®

Note: Running Fridays in FromGregsHead.comis a continuing series of tips brought to you by Greg Price. These run Sunday evenings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the PKF Texas – Entrepreneur’s Playbook® page of the PKF Texas website.

I’ve spoken to you before about in business it’s not always what you know, but who you know.  It takes time to build successful business relationships with an individual or organization.

Community partnerships are another way to build your business relationships.  These partnerships demonstrate integral associations between your company and other organizations. You not only present a united front; but reap the rewards of pursuing mutual goals. It sounds simple, and it is simple, given a commitment to ensure this kind of relationship works for both parties in the long term.  This goes beyond just a sponsorship.

Look for organizations both in and out of your industry.  If you are a technology company, do you have a  relationship with the Houston Technology Center? 

Does your company do any business in the United Kingdom?  The Trade & Investment office of UK Trade & Investment works to promote bilateral trade between the UK and the US.  What would partnering with them mean to your business?

The organizations you seek to partner with should be of strategic importance to you and your Company.  Remember, relationships are not one sided.  What benefits are you providing to the organization partnering with you?  Be sure your end goals line up and you share a common interest.  

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