Successful corporate B2B partnerships built on shared values: My inspiration Ted Lasso
I have recently become hooked on watching Ted Lasso and am now onto Season 2. The other night, I was watching one of the characters, Sam Obisanya, a Nigerian national, take a stand against the team’s sponsor, the fictional airline Dubai Air, after learning that it is owned by the equally fictional company Cerithium Oil. Sam accuses Cerithium Oil of causing environmental devastation and corruption in his home country of Nigeria.
The Dubai Air controversy highlights Sam's moral principles and his willingness to speak out against injustice, even at the risk of consequences to his career.
This demonstrates the importance of organisations doing their due diligence and weighing the pros and cons before they enter into strategic partnerships. Failing to do so can result in reputational ruin for all stakeholders involved. In this instance, as much as I love the character Keely Jones as the fictional Head of Marketing for AFC Richmond football club, this is a major faux pas.
Aligning values across all stakeholders is crucial for successful and impactful corporate partnerships. Here are some key reasons why:
Builds trust and credibility: Shared values create trust, credibility and connection among stakeholders, including customers, employees, and the community.
Enhances employee engagement: Employees are more likely to be engaged and motivated when the company's partnerships align with their personal values, leading to higher productivity amongst employees.
Strengthens brand reputation: Customers and the public perceive partnerships built on authentic shared values as more genuine, enhancing brand reputation and customer loyalty for both partners.
Ensures Sustainable Relationships: Partnerships built on shared values are more likely to be maintained and deliver long-term benefits.
And here are some of the key ways you can identify shared values:
Research the Partner's Background: Investigate their mission, values, and achievements via their website, social media, publications, and industry sources. This provides insights into their drivers, priorities, and value system.
Look for Overlaps: Identify clear areas of overlap between your company’s values and the potential partner's values.
Observe Operations: Notice how the partner operates and makes decisions. Their actions should align with their professed values.
One of the best examples of a successful partner collaboration that I've been involved with was with Clontarf.
This partnership started a few years ago, when my previous employer launched its ‘Reflect’ Reconciliation Action Plan (RAP). This involved a pledge to foster respectful relationships and create meaningful opportunities with Aboriginal and Torres Strait Islander communities and employees. This partnership has continued to go from strength to strength and as a result 15 students have been employed with the company over the years.
In summary, successful partnerships leverage shared values as a foundation to align on goals, build trust, engage stakeholders and create authentic positive impact that benefit all of society.
Next steps -
Be clear on your values, mission and areas of social impact focus.
Create a shortlist of potential partners whose missions and values align with your companies.
Have a conversation with these partners to see if there is a genuine fit.
Collaboratively design partnership programs that will create shared value while delivering business benefits (ROI) to your company.
If you need help creating successful partnerships for your B2B company, I can help.