Being a Great Partner vs. Negotiating a Partnership Deal: Understanding the Difference

Let’s review the basics; there are four different types of negotiations: Hard Bargaining, Concession Trading, Value Creation, and Partnership.?

Being a great partner is an admirable quality. It shows that you are committed, trustworthy, and approachable. However, when it comes to negotiating a Partnership deal, these qualities are not enough. Negotiating a Partnership deal is an entirely different ball game that requires a huge scope, high levels of trust, and enough complexity to get creative. In this blog post, we will discuss the difference between being a great partner and negotiating a Partnership deal.

Firstly, being a great partner involves following through on your commitments, being trusted, and approachable. It means that you are able to communicate well and work collaboratively with others. However, negotiating a Partnership deal requires a different set of skills. You need to have a strong understanding of the deal's scope, objectives, and terms. It requires critical thinking, negotiation skills, and the ability to see things from the other party's perspective.

Secondly, Partnership deals are extremely rare and complex. They involve a significant level of risk and require a thorough understanding of the legal and financial aspects of the deal. Negotiating a Partnership deal is not something that can be done overnight or without adequate preparation. It requires careful planning, research, and analysis to ensure that both parties can achieve their desired outcomes.

Thirdly, a Partnership deal allows both parties to achieve something that they may not have been able to do on their own. In a partnership, each party brings something valuable to the table, and together they can achieve greater success. However, for a partnership to be successful, both parties must be aligned, committed, and motivated to achieve the agreed-upon objectives. It requires a significant level of trust, respect, and mutual understanding between the parties involved.

Fourthly, negotiating a partnership deal requires creativity and the ability to think outside of the box. It requires an understanding that both parties are bringing unique strengths to the table, and together, they can create something great. It requires the ability to identify potential obstacles and to come up with innovative solutions to overcome them.

Many people confuse “being a great partner” with a “Partnership” negotiation type. Remember, you can be an amazing partner with your counterpart and only ever negotiate at Concession Trading. They are different things entirely.

So don’t let your counterpart weaponize the word “partnership.” There is a difference between being a great partner and negotiating a Partnership deal.