The Network Garden

What makes for a great business partner?

I have found three ingredients to be indispensable to great partnerships, which I summarize as “Smart, Strategically Aligned, and Skin in the Game.”

Let’s look at each.

Smart partners bring knowledge and insight to the table. They will always push you to be better, but they will always hold you accountable to deliver the goods.

Conversely, you WILL be better by choosing Smart partners.

Strategically Aligned partners have interests and outcomes that are in sync with your interests and outcomes…at least for the domain driving the partnership.

People and companies rightfully will default to pursuing paths that fit their self-interest, so it’s critical to pick partners that are directionally aligned with your goals.

Skin in the Game refers to the notion that true alignment is measurable, based on tangible time, dollars and/or resources.

When partners have Skin in the Game, they tend to want to garner value for that “skin,” which drives specificity, focus and force of will.

You want partners that have Skin in the Game, as only then are they truly vested in the outcome.