Why the Right Partnerships Make All the Difference | Emeritus India
The right partnership is the pillar of growth and success for any business venture. Over the century, most successful businesses have followed the concept of a strategic partnership to operate and scale their business.
This principle is still applicable and highly recommendable to date. Even if you fail to see the potential of your business, the right partner will do. They will assist your company in reaching heights that you never could’ve imagined.
One good example is the real-life story of Oprah Winfrey and Jeff Jacobs. Well, who doesn’t know Oprah, right? She is the first black billionaire in the United States of America.
The Story of Oprah and Jeff: An Inspiration for Business Partnership
In the mid-80s, Oprah Winfrey broke her shackles of poverty when she got a 230,000-a-year contract as one of the most intimidating TV personalities. However, she soon realized she wasn’t getting paid as much as she deserved, and that’s when the idea of a change of agent popped into her mind.
She appointed Jeff Jacobs as her new agent, who soon became the right partner she needed to reach the epitome of success. With Jacob’s help, Oprah struggled and claimed the title of the ‘first black billionaire’ in the 1980s.
However, Jacob always saw more potential in her than she had in herself. He believed that Oprah was born to be a business owner of a vast empire, not just some paid performer. On behalf of Oprah, Jacob sat on renegotiation terms with the TV dominators – King World and ABC Network- to get ownership of the show on their own production costs.
The network agreed to the negotiation, and soon her own show reached the heights of popularity, making her net worth reach $100 million in 1990. Within a few years, she started her own studio and company, Harpo.
She later founded her own property company, which was a success. To date, Oprah says that Jacob helped her believe that she could have her own empire and that Jacob is the pillar of her success.
What to Deduce from The Story:
–Â Â Â Â Â Â Â Â Both Trusted & Respected Each Other
Trust and respect are the two mantras for the success of any partnership. Like Oprah, you should also trust your business partner’s vision, character, decision-making, and competence. And like Jacob, you should mutually agree to what your partner has to say, too. The more you respect each other’s personalities and potential, the more successful you become.
–Â Â Â Â Â Â Â Â Both Helped One Another to Reach Their Fullest Potential
Like Oprah did with Jeff, you must collaborate with a partner whose business-minded values and goals align with yours. Go for a partner who aims to maximize your wealth and grow together. If their value doesn’t match yours, there’s no point in continuing that partnership.
–Â Â Â Â Â Â Â Â A Strong Alliance Altogether
Taking inspiration from Oprah and Jeff’s story, choose a partner who will form an alliance with you so that both can reach their fullest potential progressively without any internal conflict. Your partner should increase your brand value in the market with all ethical business means.
So, The Right Partnership Helps Your Business Grow, But How?
–Â Â Â Â Â Â Â Â Shared Knowledge For Better Decision-Making
Your business will need vast knowledge, and such knowledge is widely available with a partner who’s as business-minded as you. Their business perspective will help you uncover the unknown and unexplored business arenas and aspects, which will further bring the chance for your business to learn and grow.
–Â Â Â Â Â Â Â Â Competitive Upperhand
The right partnership will provide abundant expertise, knowledge, and resources to your business, which will further help you launch the best version of your products to reach the masses. Their market expertise will help you reach new horizons at a faster pace.
–Â Â Â Â Â Â Â Â Enhanced Business Image & Credibility
With the right partnership, your brand image and credibility will witness a sudden significant boost. When you join hands with firms or business owners with similar visions and goals, both of your influence in the industry surges drastically.
Get Assistance For The Right Partnership With Emeritus India
Not only the right partnership but several other aspects also contribute to your business’s fast-paced growth and scaling. Emeritus India offers you the best platform to climb the ladder of success in the business world with career-transforming executive leadership programmes from top-ranked B-Schools.
Why wait? Achieve the heights of success by enrolling in a leadership programmes delivered by Emeritus India and learn the success mantras that will soon make you the ‘king’ or ‘queen’ of the business world.
