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Developing partnerships can facilitate all these things. One of our most successful partnerships has resulted from the implementation of the following five best practices for creating powerful and lasting business relationships, and it’s been a “win win” for everyone involved. The first and most important factor when forging a partnership is to identify and define a true need. What are the pain points your prospective partner is facing? How can you help with those? What does your partner have that you need? How can you benefit from the relationship? What are the synergies that exist between you and a prospective partner? You also need to consider the potential problems: What are the downsides to working together? How could the partnership impact your long-term plans? Partnerships are based on an equal, synergistic relationship.
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