Social media is full of quizzes that are a wonderful time waster, especially if you’re waiting for a train. At any given time I’ve explored what type of potato I am, my ideal spirit animal or my chances of surviving a zombie apocalypse (spoiler alert- unlikely to make it through teatime).
Through all of our conversations with non-profits working valiantly to build a partnerships program we’ve identified four types of approaches. If we channel our inner Buzzfeed, we can map them against four pop star archetypes.
Which one are you?
Taylor Swift
You’re killing it. You’re totally confident about your positioning, have a loyal following and the financial results are looking great. Others are looking at your partnerships with envy. But there are inevitable downsides to being a superstar. You’re so successful that other organisations have started poaching your team members. They would like a bit of what you’re having too.
If you have a large portfolio of partners of different sizes and needs you may be a bit overstretched in servicing all of them. They probably range from your favourites who have supported you loyally for years and don’t ask for much in return, to some who are divas demanding continual attention and energy. There is a high risk of team burnout if you have too many divas on board. When you’re successful you can be so busy with existing partners that you can’t think strategically about the future. It’s nice that corporates know you and approach you but you risk diluting the program if you say yes to everyone.
The challenge for the Taylor Swifts of the NFP world is how to sustain success. You need to make some strategic choices about where to spend your effort. Your team will also benefit from investment in learning and upskilling to keep them loyal to you. Which brings us to the second partnership archetype.
Britney Spears
It all started so well. You had some great early successes but things are getting off track and out of control. You’ve probably got a bunch of people giving you well meaning advice. However, the pressure to recapture the sparkle of early performance may lead you to choose some partners that are not a great fit for you. You’ll end up with a series of Las Vegas weddings that you regret later.
You need to rekindle the fire and get back on track. The focus is on revitalising your program. The best way is to go back and put the right foundations in place. A solid strategic framework will guide your choice of future partners and prevent you falling for the first corporate with a winning smile and a twinkle in their eye.
Guy Sebastian
The humble guy with big hair who won Australian Idol was a singer long before he was discovered. You’ve got plenty of raw talent but you’re not widely known. It’s been hard work to get some wins and you need help to develop your full potential. If you remain the world’s best kept secret you could get stuck with mid-value partners only. You need to break out of the grind and attract the right partners with maximum value.
The focus for you is on growth. Craft a compelling commercial value proposition for partners. Build your understanding of value and the solutions you offer to corporates. Hard work and dedication will earn you the big break and you’ll be in the spotlight before you know it.
Gotye
A one-hit wonder who’s living comfortably off the proceeds. Seriously, can you name another Gotye song?? Your partnership income is very concentrated, with one or two anchor partners and the rest simply small fry. This could go swimmingly until the main income source dries up. Then you’re in trouble. You need to diversify.
Building a truly diversified portfolio of corporate partners means going back to the foundations and strategic framework for partnerships. You may have got lucky once, but don’t expect the luck to last forever.
Each partnership archetype has strengths and weaknesses. There’s a reason why David Bowie kept reinventing himself. If you want to be a star with a lifetime of success, then invest in your potential and don’t rest on your early success.
Which type of pop star are you?