We’re back with part three of our monthly mini series, tips for partnerships. Over the past few weeks we’ve discussed the importance of investing in easy-to-manage partnerships and why your business partner should be your complement and not your competitor.
This week, we’re covering communication, specifically, why it’s so important to be clear and concise when proposing a new partnership with a neighboring business.
Tip #3: Communication Is the Key
There are so many pieces that go into forming a solid and successful partnership, but first you have to broach the idea in the most clear and concise way possible.
Be Specific About Your Expectations
If you’re looking to partner with another business you should be as straightforward as possible in your proposal. Let them know exactly how you’re hoping to partner and what you expect from them.
Are you looking for a long-term partnership or are you just hoping to partner up for a one-time event?
Are you hoping they’ll offer their current customers or clients exclusive deals and discounts at your salon? What kind?
Are you looking to start a joint membership? Maybe a subscription service?
There are so many possibilities when it comes to partnerships so it’s important that you’re upfront about your intentions.
In Return, Share What You’re Bringing to the Table
Of course, you’ve got to let the other business know that there’s something in this for them too!
In your proposal you should also share how you plan to promote their business to your own clients. Inquire about the possibility of offering your people deals and discounts at their business. If you have an idea of what you’d like to see, state it. If you’d prefer to phrase it as a question and see what they come up with, ask away!
This component to the proposal will vary depending on the type of business you’re engaging with and the kind of partnership you’re looking to start. If you’re hoping to host a one-time in-salon networking event, maybe you’re asking that trendy new winery to provide samples for a tasting and in return you offer to promote their events in your weekly marketing emails for a few months.
If you’re looking for a long-term partnership that would add value for your salon’s VIP members, maybe you reach out to that expensive brow boutique and agree to give out rewards to each other’s clients in return for referrals.
The possibilities are endless, but you want to make sure that you’re talking yourself up so that the other business knows there’s an opportunity in this partnership proposal for them, too!
Go Over the Proposal Together
You’ll want to give the other business owner or manager some time to look over the proposal before sitting down to go over it together.
This is an important step in the communication process because it’s your opportunity to nail down all of the details so that there’s no room for confusion on either end.
There’s a chance that they’ll have questions or perhaps they’ll have even made some changes to the agreement. Always remember to be open to listening to their ideas. Besides, they might come up with an even better deal!
Make Sure Everyone Leaves With a Copy
Last but not least, everyone should leave with a signed copy that details everything you both agreed on, from the specific deals and discounts to the terms and conditions of the partnership and it’s length.
This is perhaps the most important piece, because both parties should have something they can reference when marketing their end of the bargain to their clients. It doesn’t get any more clear and concise than that!