What Do You Think Of Consulting Partnerships?

by thattaway

Posted: 11 years ago 11 replies

OFFLINE MARKETING

Hey Warriors.

I've noticed something that is making me consider a consulting partnership. I'm not talking about a JV, but an ongoing partnership. Two of my favorite Warriors are John Rhodes and Jay Boyar. I also noticed that Maria Gudelis is now Maria and Tina.

So I'm wondering, what are the upsides and downsides?

I have considered this for awhile. I get stuck and overwhelmed with technical minutiae. I'm not happy with hiring help and getting mediocre results from people who are not invested in outcome,- computer "mechanics" who don't understand marketing and consulting.

Any "partners" out there? How do you structure this type of partnership? One thing with John and Jay that gets a bit much is that I am on three lists, John's, Jay's, and John and Jay's! So I get three pitches at a time.

Nevertheless, there must be some tremendous value in these longterm relationships.

I look forward to your thoughts and suggestions.

#consulting #partnerships

Jay Rhome 11 years ago

I'm looking for the same. I'm sure it helps with accountability, getting things done and moving, etc. Like any partnership, there are pitfalls as well. I think as long as the structure is flexible both can find what they want, and go their separate ways if the need arises. You can't simply jump into it, you have to ease your way into it, much like dating
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thattaway 11 years ago

Thanks Jay.

I was thinking about that. Maybe testing a project or two, to see how it works out. I just bought some software today, realizing that I don't have the technical expertise to integrate it into a campaign. This sort of situation comes up regularly. My thought is, if I could find someone to set up all the technical aspects a campaign or two, someone who had a stake in its success, I can handle the content and marketing. I just get bogged down in the technical stuff. I appreciate the feedback.
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Jay Rhome 11 years ago

I've too often wondered how these "marketers partnerships" started. Most of them have been together a long time. Many are not in the same cities so proximity is not necessary.

Depending on the software, I can be decent in the technical aspect. Maybe I can help you there. As for me, my #1 place for improvement is to start DOING WHAT I'M SUPPOSE TO DO :confused:. Maybe you can help me there.

I'm using my new found knowledge of FB super targeted ads to find a partner in my parts, instead of craigslist and the like. I'll be doing a video ad tomorrow for that. I've got no idea if I'll find what I'm looking for this way but it's worth a try. Shouldn't cost much in ad dollars, and it's a test in itself.
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rodsav 11 years ago

I believe you have the right idea, try someone on a few projects to see how it goes. I had a partner is an offline business for 10 years and it went exceptionally well. We did not know one another before our business relationship and are best friends today. I would say, find someone that has the same personality and work ethic as what you have. Creating a business entity partnership LLC for example, you would be required to file corporate tax return as well as your personal returns.
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thattaway 11 years ago

Thanks Rodney.

That's very encouraging. How did you find a partner? At what point did you know it was a good match and formalize the partnership? Do you thinks it is necessary to formalize it?
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AndrewCavanagh 11 years ago

You don't really have much to lose with joint venture partnerships
like these.

Probably the most important things to define in writing are:

# Who is going to do what work specifically.

# How and when each of you will get paid.

And remember to make part of your agreement that you
can change it if it becomes obvious that you need to.

As Rod already said just running with one or two projects and
seeing how they go will most likely give you all the information
and experience you need.

Kindest regards,
Andrew Cavanagh
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- SashaLee 11 years ago
  
  Originally Posted by AndrewCavanagh
  
  Probably the most important things to define in writing are:
  
  # Who is going to do what work specifically.
  
  # How and when each of you will get paid.
  
  Hi there,
  
  This is essential advice. Partnerships rarely work because responsibilities haven't been defined. I've found that in any equitable partnership you still need a leader - one person who will make decisions quickly. This person is usually the person who does the lion's share of the work.
  
  Don't be afraid to disband the partnership quickly once your gut tells you to and make sure the dissolution is described in writing BEFORE you form the partnership.
  
  Most squabbles arise over money...
  
  All the best,
  
  Sasha.
  
  Thanks
  
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Jonwebb 11 years ago

This is thread inlines directly with how I have been thinking lately.

As a freelance copywriter your payments are more then likely one shots. Leaving you to have to search for another client "fix".

I am now looking to find a small business owner ( a offliner) who knows his business but prefers not to deal with the marketing side of things. I line up the pitch, he knocks it out of the park and we spit the recurring revenue.

Its something I've been thinking about since i read this:Six Figures is Chump Change | MakepeaceTotalPackage.com

Anyway just wanted to add my .02

- Jonathan Webb
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lotsofsnow 11 years ago

A partnership in business is similar to a partnership in live: It can go both ways.

Start out with a relatively small project and if it is a good fit you will see that soon more comes out of it.

There is some tremendous value in partnerships. For sure. The tricky part is finding the right one.
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- davidjames42973 11 years ago
  
  The best way to meet people is to go to live events. I know this is how Jay and John met and began their partnership.
  
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thattaway 11 years ago

Thanks for the great insights and suggestions. I thinks live events would be a great way to check out a potential partner. Getting a sense of a person's commitment and work ethic is crucial.

And the reminder to work out all the potentially thorny issues in advance makes sense, and can be easily overlooked in the optimistic pursuit of a a productive and mutually beneficial relationship. Kind of like speed dating. You could miss something important if you're not careful.

Thanks for the Warrior wisdom. I love this forum!
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