Partnership

"Geography has made us neighbors, history has made us friends, economics has made us partners, and necessity has made us allies"

-John F. Kennedy; May 17, 1961

In Kennedy's address to the Canadian Parliament he summarized the depth of USA relationship with Canada. Today, we trade more than $325B annually with Canada as our largest trading partner.

DEFINE: Partnership (Noun): A form of business where two or more people share ownership, as well as the responsibility for managing the company.

The business definition of partnership is simple. Selecting effective partners to make it happen requires much more thought. The rest of this newsletter will explore how to do it well.

IDENTIFY: Are you a partner person? The first step in creating a successful person is determining what you want. Gino Wickman, EOS Founder, suggests not to think about right now, but instead think 10 years out and set it up right from the start.

Are you a "Partner Person"?

SELECT: According to Howard Marks of Oaktree Capital, the basis for a great partnership is shared values & complimentary skills. Do your current, or prospective, partners meet this definition?

Learn more from Howard Marks in his recent interview with Goldman Sachs here.

TREND: A recent Accenture survey found that 36% of businesses are working with at least TWICE the amount of partners than they were two years ago. The platform, ecosystem, and channel business concept is growing.

How will you put it to work for you?

Stay Productive.

Joe House