Consolidating partnerships with corporations

Research programs currently or recently used by a partner you are considering; sometimes your suggestions can improve outcomes.

Do Your Homework When researching companies, you gain two important advantages. Questionable labor practices, a poor environmental record or a CEO you don’t respect are reasons enough to avoid partnership. You come to the table with a good understanding of the company and solid reasons to consider partnership, speaking with familiarity about their products, competitors and marketing challenges.

Create a Marketing Plan Base the plan on the core values manifested in your mission statement.

Identify themes for a partnership, including implementation ideas such as new products, promotions and slogans.

What have you learned about your partners, and what can you expect to encounter among marketing executives you sell to in the future? Can reducing certain costs increase profits in future ventures?Finally, move the potential corporate partner from interest to commitment. Keep the Relationship on Track Continue to get to know your counterparts and gain a better understanding of their objectives. At no time in your relationship with a corporation is there room to relax.Even with great outcomes, always look ahead to other considerations for the partnership.At least eight states have economic development organizations that are generally characterized as public-private partnerships: Enterprise Florida, Inc., Indiana Economic Development Corporation, Kansas, Inc., Michigan Economic Development Corporation, Team Pennsylvania Foundation, Rhode Island Policy Council, Virginia Economic Development Partnership Authority, and Wyoming Business Council.The boards of directors governing these organizations include public officials, business leaders, university presidents, and private citizens. The legislature in six states created the organizations to fulfill a public purpose.

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Nonprofits say that the biggest challenge is to find the partnerships that benefit the organization without compromising values or contradicting the mission.

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