How can you leverage your network to find strategic partners after ending a partnership?

Ending a partnership can be a challenging and stressful experience, especially if you rely on your partner for resources, referrals, or support. However, it can also be an opportunity to explore new possibilities and find strategic partners who align with your goals and values. In this article, we will share some tips on how you can leverage your network to find strategic partners after ending a partnership.

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1 Assess your needs and strengths

Before you start looking for new partners, you need to have a clear idea of what you want and what you can offer. Think about your business objectives, your target market, your core competencies, and your competitive advantage. What are the gaps that you need to fill? What are the benefits that you can provide? How do you differentiate yourself from others in your niche? Write down your needs and strengths, and use them as criteria to evaluate potential partners.

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2 Reconnect with existing contacts

One of the easiest ways to find strategic partners is to reach out to your existing contacts. These are people who already know you, trust you, and have some interest in your field. You can start by contacting your previous clients, suppliers, mentors, colleagues, or friends, and asking them for referrals, introductions, or feedback. You can also use social media platforms like LinkedIn, Facebook, or Twitter to share your updates, showcase your expertise, and engage with your audience. Be genuine, helpful, and respectful, and avoid spamming or pitching your services without permission.

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Anastasia Denisova

Partnerships | Events Experience Design | Large scale events @Mindvalley
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I strongly encourage everyone to take a fresh look at their old contact lists. Career pivots are common, and you never know when a former acquaintance, like a marketing manager you met years ago, has launched a company that's an ideal match for collaboration. While LinkedIn's keyword search is a great tool, I often find myself browsing Instagram out of curiosity, thinking, 'I wonder what X is up to now.'"

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3 Expand your network

Another way to find strategic partners is to expand your network and meet new people who share your vision and values. You can do this by attending events, joining groups, or participating in online forums related to your industry, niche, or interest. You can also use tools like Meetup, Eventbrite, or Bizzabo to find relevant events and opportunities near you. When you network, focus on building relationships, not transactions. Listen more than you talk, ask open-ended questions, and show curiosity and enthusiasm. Follow up with the people you meet, and keep in touch until you find a mutual fit.

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Anastasia Denisova

Partnerships | Events Experience Design | Large scale events @Mindvalley
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One effective way to expand your professional circle is through introductions from people you already know. The foundation of a successful strategic partnership is often the relationship itself. A mutual introduction not only adds credibility but also streamlines the networking process.

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4 Evaluate and negotiate

Once you have identified some potential partners, you need to evaluate and negotiate the terms of your partnership. You need to make sure that your partner is reliable, reputable, and compatible with your business model and culture. You also need to define the scope, goals, roles, responsibilities, expectations, and benefits of your partnership. You can use tools like SWOT analysis, SMART goals, or MOU templates to help you structure your partnership agreement. Be flexible, transparent, and respectful, and seek win-win solutions for both parties.

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5 Maintain and nurture

Finding strategic partners is not enough; you also need to maintain and nurture your partnership over time. You need to communicate regularly, monitor your progress, measure your results, and provide feedback and support. You also need to celebrate your achievements, acknowledge your challenges, and resolve your conflicts. You can use tools like Slack, Trello, or Google Docs to facilitate your collaboration and communication. Be honest, loyal, and appreciative, and treat your partner as an extension of your team.

Finding strategic partners after ending a partnership can be a rewarding and beneficial process, if you leverage your network effectively. By assessing your needs and strengths, reconnecting with existing contacts, expanding your network, evaluating and negotiating, and maintaining and nurturing your partnership, you can create lasting and valuable relationships that can help you grow your business and achieve your goals.

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6 Hereâ€™s what else to consider

This is a space to share examples, stories, or insights that donâ€™t fit into any of the previous sections. What else would you like to add?

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How can you leverage your network to find strategic partners after ending a partnership?

1

2

3

4

5

6

1 Assess your needs and strengths

2 Reconnect with existing contacts

3 Expand your network

4 Evaluate and negotiate

5 Maintain and nurture

6 Hereâ€™s what else to consider

Business Networking

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Directory

How can you leverage your network to find strategic partners after ending a partnership?

1

2

3

4

5

6

1 Assess your needs and strengths

2 Reconnect with existing contacts

3 Expand your network

4 Evaluate and negotiate

5 Maintain and nurture

6 Hereâ€™s what else to consider

Business Networking

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