The Key to Survival: Public Private Partnerships
5 Key Components for business sustainability.
More than ever, PPP (Public Private Partnerships) are becoming essential to business sustainability. One primary entity to carry all the business resources is something we see as a part of outdated business models. Collaborations build brand continuity, community relations and relevance as well as prevent businesses from the overwhelming task of having to do everything on their own. Here are 5 key components to creating strong PPP.
1. Quality Niche Product: You must have a unique, quality product. PPP is formed thru the opportunities for WIN-WIN collaborations. Value has to be reciprocal. No one will want to partner if the quality of your product is marginal or if they can get a similar product with the same quality for a lesser price point. Therefore, uniqueness does help set purveyors apart from each other. 
2. Consistency of production: An important part of quality is consistency. In PPP being able to fulfill demand is essential. Know your threshold and the stakes required to upscale your production. Don’t bite off more than you can chew;)
3. No more than 3 primary partners: Select your partners/collaborators wisely. Too many, is sometimes just that…too many. The more partners the more expectation. 2-3 partners/collaborators seem to have a higher success rate. Instead of having too many partners, look at how you can create multiple partnerships with less partners.
4. Branding potential: If you have a good brand more people will want to work with you. This is usually (most easily) distinguished by good graphic design and packaging. You can have an amazing product but if there is little to no investment made to develop your branding design and packaging, partners are likely going to look for brands that do have this potential. Buyers tend to buy with their eyes first. We have seen less quality items with great design and packaging make larger quicker collaborations than those that have superior quality but print labels on a home printer. The OVERALL product must be branded.
5. Readymade market: if you want to partner with another business it is helpful if you already have your own market. Collaborations are built on the opportunity for multiple parties to gain access and network value for each other. If you don’t already have an active market for your product it will be harder for partners to be convinced that you can carry your part of the partnership.
