How do you share resources with partners?

1 Define the scope

Before you start sharing resources with partners, you need to define the scope of the partnership and the resources involved. This means clarifying the objectives, expectations, roles, responsibilities, and boundaries of each partner. You also need to identify the type, amount, and frequency of the resources you will share, such as data, tools, expertise, contacts, or funding. Having a clear and written agreement on the scope can help you avoid misunderstandings, conflicts, and disputes later on.

2 Assess the value

Another important step is to assess the value of the resources you will share with partners. This means evaluating how the resources will contribute to your and your partner's goals, how they will complement or enhance each other's capabilities, and how they will create a competitive advantage or a social impact. You also need to consider the costs and risks of sharing resources, such as the potential loss of control, confidentiality, quality, or reputation. You should aim for a fair and balanced exchange of value that benefits both parties and aligns with your mission and values.

3 Communicate regularly

Communication is key to any successful partnership, especially when you share resources with partners. You need to communicate regularly with your partners to keep them informed, engaged, and accountable. You also need to communicate clearly and respectfully to avoid confusion, frustration, and conflict. Some communication strategies you can use are: setting up regular meetings or calls, using online platforms or tools, creating reports or dashboards, providing feedback or recognition, and resolving issues or concerns promptly.

4 Monitor and evaluate

To ensure that you are sharing resources with partners effectively and ethically, you need to monitor and evaluate the partnership and the resources. This means tracking the progress, performance, and impact of the partnership and the resources, using relevant indicators and metrics. You also need to evaluate the satisfaction, trust, and relationship quality of both parties, using surveys, interviews, or testimonials. By monitoring and evaluating the partnership and the resources, you can identify the strengths, weaknesses, opportunities, and challenges, and make adjustments or improvements as needed.

5 Review and renew

Finally, you need to review and renew the partnership and the resources periodically. This means revisiting the scope, value, communication, and evaluation of the partnership and the resources, and assessing whether they are still relevant, effective, and ethical. You also need to decide whether to continue, modify, or terminate the partnership and the resources, based on the results and feedback of both parties. By reviewing and renewing the partnership and the resources, you can ensure that they are aligned with your and your partner's goals, needs, and values.