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How to develop a business partnership portfolio
- Author: Creative Australia
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What is a business partnership portfolio?
A business partnership portfolio is a collection of business partnership agreements you actively manage.
Why manage your partnerships as a portfolio?
Looking at your business partnerships together, rather than individually, helps you make deliberate decisions about current partnerships and future opportunities.
Managing business partnerships as a portfolio helps you:
- decide what you can offer across different partnerships
- structure partnerships so they work well together
- protect valuable rights, benefits and properties
- create room for partnerships of different sizes, types and investment levels
- understand how many partnerships you can realistically support
- avoid relying too heavily on one partner or industry
- identify opportunities to grow existing partnerships
- keep valuable opportunities available for future partners.
How to manage your portfolio
To get the most out of your business partnership portfolio, you need to actively manage it.
Keep good records
Keep a record of what you’ve committed to each business partner and what remains available.
This could include:
- your business partnership properties
- rights and benefits committed, including any category or exclusivity rights
- partnership value, agreed price and cost to deliver
- agreement terms, including commencement, end, notice and renewal dates.
Keep this information in one place to avoid offering the same or conflicting rights and benefits to different business partners.
Review your portfolio regularly
You should regularly review your portfolio to identify:
- gaps and opportunities
- category conflicts or overlapping rights
- partnerships approaching renewal or completion
- over-reliance on individual partners or industries
- opportunities to deepen existing relationships.
Keep your portfolio open to new opportunities
You don’t need to have every property, right or benefit committed to a partnership. Keep some valuable opportunities available for future partners.
Ethical considerations for business partnerships
Consider ethics before starting a business partnership so you protect your reputation.