Traci Cox, President of Temple & Associates, met with us to explore the value of business partnerships, managing partnership challenges and how partnerships enhance business opportunities.
Questions that Traci answers:
- [2:50] What does Business Partnerships mean to you and how is it related to trust?
- [3:24] Can you share an experience where you had to create a partnership to meet an objective?
- [4:30] What would be the next step with that partner after working together to help a client meet their objective?
- [5:36] Are there best practices that you recommend when forming a formal business partnership?
- [6:54] Is there a difference between how you handle partnering with individuals vs business entities?
- [9:26] How do you select service vendors, like software vendors, that you work with to service your customers?
- [12:21] How do you handle challenges that can arise with partners?
- [14:38] If a partner cannot fulfill a service agreement for a client how do you address it?
- [15:58] An introduction to Temple & Associates and the services they offer clients today.
- [18:30] What type of expertise, education and/or knowledge do you look for in your partners?
- [24:41] Should a non-compete clause be built into a partnership agreement? (Audience Member Question)
- [26:41] In a partnership, in which one partner contributes technology and the other partner contributes the distribution, marketing and customer-base, how does the distribution partner guard against the technology partner leveraging their customer base for a new and non-shared product? (Audience Member Question)
- [28:24] How does the distribution partner ensure that the technology partner is responsive to technical issues with the product, and continues to improve the product? (Audience Member Question)
- [32:00] What organizational image should be presented in customer-facing applications? (Audience Member Question)
- [36:50] How does the technology partner guard against the distribution partner replicating their product – using their familiarity with the product and developing a modified version of the product themselves – and then underselling the technology partner? (Audience Member Question)
- [42:04] BONUS: Traci shares post-discussion thoughts.
Connect with Traci:
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