Entering into a business partnership can be a profitable experience but one that is also often fraught with risk. Over the years at Niche with our publishing, events and content marketing projects, we have experienced some strong and successful partnerships. But we’ve also had our fair share of difficult exchanges.
In our publishing divisions, we partner daily with brands wanting to get their messages across by advertising through our print and digital channels. With our content marketing clients, we bring our expertise to their business problems and work together to produce content that connects with their audiences and produces results. We are also always partnering with experts in various fields who help us produce our great quality work.
When it comes to partnering for business, it’s important to take various considerations into account. How well do the values of both your companies align with each other? Does the deal seem fair to everyone involved? Are expectations clearly defined?
Different businesses and different people have their own ways of going about making partnership decisions, and they all need to decide for themselves what is right for them.
We’ve scoured the internet to find these great quotes from some of the world’s best business minds on partnering that we hope will get you thinking.
“Creating a better world requires teamwork, partnerships, and collaboration, as we need an entire army of companies to work together to build a better world within the next few decades. This means corporations must embrace the benefits of cooperating with one another.” – Simon Mainwaring, Sydney-based branding consultant
“In this new wave of technology, you can’t do it all yourself, you have to form alliances.” – Carlos Slim Helu, Mexican business magnate and investor
“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.” – Warren Buffett, American business magnate
“It is rare to find a business partner who is selfless. If you are lucky it happens once in a lifetime.” – Michael Eisner, former CEO of The Walt Disney Company
“A friendship founded on business is a good deal better than a business founded on friendship.” – John D. Rockefeller, American business magnate and philanthropist
“To be successful, you have to be able to relate to people; they have to be satisfied with your personality to be able to do business with you and to build a relationship with mutual trust.” – George Ross, executive vice president and senior counsel of the Trump Organization
“In the end, all business operations can be reduced to three words: people, product and profits. Unless you’ve got a good team, you can’t do much with the other two.” – Lee Iococca, former president of Ford and former chairman of Chrysler
“The focus on contribution by itself supplies the four basic requirements of effective human relations: communications; teamwork; self-development; and development of others.” – Peter F. Drucker, American management consultant, educator and author, in The Effective Executive
“If you can run the company a bit more collaboratively, you get a better result, because you have more bandwidth and checking and balancing going on.” – Larry Page, cofounder of Google
“Creating a close connection to those you do business with has its many risks, rewards and consequences. There are few things in business I have encountered that are more difficult than firing someone, particularly if that someone has always been, or has become a friend. On the flipside, I have been rewarded with many friends.” – Mark Cuban, American businessman and investor
“I learned to go into business only with people whom I like, trust, and admire.” – Warren Buffett, American business magnate