In Part 1 we learned the importance of ethics when building a partnership.
I also shared some great ways to find out if things were a match.
Now, in Part 2 we are going to learn about something that is often overlooked when working with a partner. It’s so easy to overlook because we are so focused on the products, services or people running the show that we lose sight of the obvious:
The ideal client!
Knowing your ideal client AND your partner's ideal client are essential in building effective business partnerships.
So how do you know if together you’re serving your ideal clients?
Ask your partner who their ideal client is to determine if they are a match to yours. I try to stay with about a 90% match, but you can decide for yourself if you want 100% or 50%. This is what I call the “90 IC” rule.
While it is true that opposites attract, much of the time if your ideal clients are not around a 90% match to your partner’s, then you could be wasting both your time and money.
When this happens, the partnership becomes a disservice in the long run, and all parties can get extremely frustrated.
Ideally, every business should know who their clients are -- even new businesses starting out. If they say they don't know, then mention that you just need something simple to better understand if you are both a match to move the partnership forward.
They don’t need to give you detailed spreadsheets with color coded graphics or anything like that. Just something simple to get clarity will work great.
Sample ideal client information:
We serve mostly XYZ between the ages of 25-30 within a 100 mile radius. We focus on a specific service called XYZ and charge between $-$. Most of our clients also are looking for XYZ, and this is why we think you are a great fit. We do not offer XYZ, and you do!
Don't forget that you are looking to partner, so to keep the momentum going let them know you’re glad to share your information with them as well to better strengthen your partnership and move forward.
Your ideal clients, like your ethics, do not have to be an exact match.
When it comes to ideal clients, you might even have a rare opportunity where your clients are very different but both companies’ products or services complement each other.
Try my 90 IC rule and keep it simple, as we have one more important building block to go in building effective partnerships.
In Part 3, we will explore how to make partnerships into something real, solid and amazing for both parties.
In the meantime, share who your ideal client with us below! Go for it right now... A partner maybe looking for you!
Because You’re Worth It!