Picking a Business Partner in Down Economic Times
Joe Forestal, VP, Solutions Delivery

As we begin to see some light at the end of a difficult financial tunnel within Ambassador, locally, and nationally, I have found myself more prone to reflect on what has transpired. Within the group of peers, partners, clients, and friends that I network with, a handful of observations seem to repeatedly float to the top of discussion. It seems to be almost universal that difficult economic times prompt far deeper and more foundational changes to business practices than prosperous times do.

One of the most impactful business changes that I have heard recur in discussion is changes in business partners. Down times seem to motivate firms to "mix it up" within their partner relationships. Solid, proven partners move closer and share more risk while companies move away from inconsistent or disliked partners. As margins get tighter, bottom lines shrink, and opportunities are more competitive, every decision is critical. More so now than ever before, there seems to be very little room for error as a business leader. In this environment, it is absolutely essential to engage with only the most trusted partners.

When looking at partners here at Ambassador, we talk in terms of the "Three Cs" of Character, Competence, and Chemistry taken from the book Courageous Leadership by Bill Hybels. We tend to use these three threads when discussing new hires to our team, potential service or product partners, and clients. My very non-scientific observation would be that when you and a potential partner are not aligned on any of these points, get out of the partnership as early as possible. Alignment on any two can lead to success but it's going to be an uphill battle all the way. When all "Three Cs" are in alignment, look for lasting value, deep trust, and an enjoyable partnership experience.

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