How to Build a Business Partnership

Maintaining a business partnership requires commitment, but the steps and skills needed for success are very similar to those needed for successful partnerships with organizations in other sectors.

1

Make a List

Brainstorm local businesses that would be good potential partners for your initiative. You should initially identify all businesses that come to mind, then refine the list down to the top 10 (or fewer) businesses that would make ideal partners.

• Compile a list of local businesses (include local subsidiaries of national corporations)
• Refine the list by thinking about the characteristics and strengths of each business and how those characteristics could be an asset to your initiative
• Refine the list even further by checking out their websites and looking for any mentions of philanthropic focuses or an interest in children and youth

2

Learn What You Can

Learn what you can about your top 10 to determine how (or if) to proceed.

• Determine the business's key goals: who do they serve, what is their business model, what is their company mission?
• Determine the business's key individuals: who are the decision-makers and what influences the decisions they make?
• Document any obstacles you may encounter: what is their reputation in the local community?

3

Explore Your Networks

Make connections with people who will help you meet the right people at the company.

• Review your initiative's existing network and connections, including professional organizations
• Determine if your connections have either an existing relationship with anyone at the company or are connected to someone else who has a relationship with the company
• Try connecting with people at the company through social media (consider using a business networking social media channel like LinkedIn, or choose a channel appropriate to the business and sector)

4

Make First Contact

Reach out and introduce yourself.

• If a personal contact is connecting you with a potential business partner, ask them to introduce you to the business representative either through email or at a public event or personal meeting (perhaps over breakfast or lunch)
• Be prepared to tell your business partner more about you and your initiative - who you are, what organization you represent, and why you think their business will be a good match for the initiative. Be prepared – if you feel it is appropriate – with a specific ask, such as "sponsor an upcoming event" or "join the board of directors." Business leaders may directly ask so be ready
• Discuss the business’s interests: where and how do they want to contribute to the community?
• If things seem to be going well, try to schedule a follow-up meeting during your initial meeting with them. Regardless of the outcome, always thank them for their time

5

Explore Their Role

Come prepared with your ideas about the role the business partner can play to support the initiative, but be open to talking through the possibilities together.

• Discuss the business's interests as well as the current needs of the initiative
• Clarify the amount of time and resources the business wishes to commit to the initiative
• Address concerns either you or the business partner have about your ability to work together

6

Stay Connected

Stay in touch, even when you don't have a pressing need or request.

• Create "face time" to help establish the relationship; consider scheduling time over breakfast, lunch, or coffee
• Make arrangements to meet at local events or professional association meetings
• Schedule regular in-person meetings

7

Take Action

Move the relationship forward by taking concrete action steps.

• Set short-term milestones
• Determine how you or other partners associated with the initiative can help your business partner be successful in their role or task
• Establish a system of mutual accountability where you both agree upon plans, responsibilities, and deadlines