INSTANT MBA: Don't Stay In A Partnership Just Because You're Afraid

Photo: CBSNewsOnline/ YoutuBE

Today’s advice comes from Heritage Link Brands president and CEO Selena Cuffe at Inc.“It is a good idea to inventory your traditional business relationships and see if you can quickly answer why you are (or would be) working with each organisation you’re considering partnering with.”

Heritage Link imports and distributes wines produced by people of African descent. Cuffe says working with big name brands like American Airlines and Fair Trade USA has helped her company generate more sales and acquire greater brand recognition. But not all of her partnerships have been for the best.  

She says companies sometimes continue working together even after it becomes clear that the relationship is no longer beneficial, either because they’ve never thought about ending the partnership or because they don’t know how to do it politely.

“If a relationship is not working, oftentimes you just need to recalibrate it, not end it. But evaluating the purpose and productivity of current and potential work together is key.”

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