Wealth Building – Are Partnerships The New Wealth for Speakers?

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The ILEAD Company® welcomes you to Wealthy Speaker Wednesday. On Wednesdays, I will assist you with strategies of how to build wealth beyond the stage. 

When we speak of building wealth, most times we immediately think about stocks, bonds, and other paper assets. However, have you considered that people can be your greatest assets? Yes! Other professionals can potentially be the new wealth. So, consider partnering with other influencers because partnerships, according to ILEAD, are the new wealth. Let’s talk about this on today!

Wealth Building – Are Partnerships The New Wealth for Speakers?

Partnerships are very important in all aspects of life. In a work environment, partnership is crucial because it helps people achieve what could otherwise be unachievable. Partnerships are formed by people who work toward a common goal and have a mutual desire for something to succeed. Both men and women greatly benefit when partnerships are established. The 5 tips below work especially well for women who are having difficulties with this.

Find the Right Partner

It isn’t enough to just settle with someone who shares the same desire and goals as you. You also need to find a partner that you can communicate easily with and has the same vision as you. Otherwise, you may end up partnering with someone who only has their own interests at heart.  Remember, motive behind an action can be easily hidden. Be sure their viewpoint and interests all add up.

Really Find the Right Partner

Okay so it isn’t really enough to stress this just on one step. It is really this important to find the right partner. This partner needs to complement you in terms of skills and experience and also will supplement the existing skill set that you have. It is much better if the partner you choose can do things that you can’t.

Personal vs Business

There are times when you form a partnership with someone who is already your friend. This is kind of tricky as you will always bring in a personal touch to all your interactions. In order for a partnership to succeed, things need to be kept professional at all times. Most of the time, these kind of partnerships tend to be okay but it’s the friendship that suffers. You will need to communicate this well with your friend prior to forming the partnership. That way, if the business suffers, your friendship remains intact.

Establish Clear Goals and Responsibilities

A powerful partnership leans on clearly defined goals and responsibilities. Be sure to communicate what is expected from both parties and what their responsibilities are. Likewise, you should give the partner enough leeway to do exactly what was assigned to them. People don’t like it when you keep pestering them about stuff especially when they specialize in it.

Respect

As with any kind of relationship, you need to have respect for it to succeed. Don’t talk behind your partner’s back, talk with them if something is amiss. Don’t put them down for failing to achieve expectations, work on action plans to improve performance. Remember, it is relatively easy to tear apart a relationship than to nurture it.

Applying these nuggets as you seek to grow relationships can create the beginning of strong partnerships. Be strategic and pray as you go through the process to receive discernment on the best decisions to make.

Ready to partner? I will soon call for partnership ideas on Facebook for those who really want to grow. I believe we can truly make a difference TOGETHER. Cheers to you my friend!