How can you restructure a partnership to better meet your needs?

1 Assess your situation

The first step is to evaluate your current partnership and identify what is working and what is not. You can use a SWOT analysis (strengths, weaknesses, opportunities, and threats) to assess the internal and external factors that affect your partnership. You can also ask yourself some questions, such as: Are you satisfied with your role, responsibilities, and rewards in the partnership? Do you share the same vision, values, and goals with your partner? Do you communicate effectively and resolve conflicts constructively? Do you trust and respect your partner? Do you enjoy working with your partner?

3 Negotiate a solution

The third step is to negotiate a solution that meets both your needs and your partner's needs. You can use a win-win approach, such as the interest-based negotiation, to focus on the underlying interests, needs, and values of both parties, rather than the positions, demands, or preferences. You can also use a creative problem-solving technique, such as the brainstorming, to generate multiple options and alternatives for the partnership. You can also use a decision-making tool, such as the pros and cons list, to evaluate the advantages and disadvantages of each option and select the best one.

4 Implement the changes

The fourth step is to implement the changes that you have agreed upon with your partner. You can use a project management method, such as the action plan, to define the tasks, resources, timelines, and responsibilities for the partnership restructuring. You can also use a communication plan to establish the frequency, mode, and content of the communication between you and your partner during the implementation phase. You can also use a monitoring and evaluation system to track the progress, outcomes, and impacts of the partnership restructuring.

5 Review the results

The fifth step is to review the results of the partnership restructuring and assess its effectiveness and sustainability. You can use a feedback loop to collect and analyze the feedback from you, your partner, and other stakeholders involved in or affected by the partnership. You can also use a performance measurement tool, such as the balanced scorecard, to measure the financial, customer, internal, and learning and growth aspects of the partnership. You can also use a continuous improvement process, such as the PDCA cycle (plan, do, check, act), to identify and implement further improvements or adjustments for the partnership.

6 Celebrate the success

The sixth and final step is to celebrate the success of the partnership restructuring and acknowledge the contributions and achievements of both you and your partner. You can use a recognition and reward system to show your appreciation and gratitude to your partner for their cooperation and commitment. You can also use a celebration event to share your success story and best practices with other partners, customers, or stakeholders. You can also use a renewal ritual to reaffirm your vision, values, and goals for the partnership and to renew your trust and respect for each other.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?