Successful partnerships should also have members with complementary needs and capabilities, allowing each partner to support the other’s efforts. A partnership in which the benefits of the partnership outweigh the cost to members has a positive value. Potential values of a partnership include innovation, depth of experience, broader reach, and increased quality of service.
When a partner communicates what they see as the value of the partnership to their partners, it is known as a value proposition. A value proposition helps to:
- Communicate to all partners why the partnership is essential to completing a mission.
- Improve partner engagement in the partnership.
- Clarify the common mission.
- Explain any potential changes to the mission, focus, or method of collaboration.