People you partner with in your business are powerfully able to influence your financial health and your impact. So it’s important to choose the right ones.

A bad choice can use up your time and energy, and sometimes lead you down sticky paths that are hard to undo and can lead into financial and reputation minefields.

When I talk about partners, I mean everyone who helps you deliver what you offer in your business, from formal business partnerships to joint ventures to your suppliers. Even your team members are your business partners in that broader definition.

To ensure that your partnerships are effective and impact-affirming, especially those that include a deeper involvement with your business, here are 5 ways you’ll recognize them:

1. You’re aligned in terms of your values. You share a similar level of integrity.
2. They have resources they can bring to bear, whether it’s expertise, money, or their own audience.
3. You like each other. You can laugh together.
4. They have the larger mission in mind. You have a sharing connection, where everyone understands that contributing ideas helps everyone, even if it’s not immediately self-serving.
5. They understand and want to contribute to your intended impact, and you want to contribute to theirs.

Partnerships are not always easy, but when the fit is good, they contribute immeasurably to your life and your business’ success. These business collaborations can make a significant difference in your impact. Choose wisely.

Author's Bio: 

Ursula Jorch is a speaker, business coach and consultant who helps entrepreneurs grow a successful business that makes a difference in the world. A 21-year successful entrepreneur herself, Ursula helps you define the difference you want to make in the world and develop strategy and marketing so you have ever-expanding impact.

Find Ursula on her podcast, Work Alchemy: The Impact Interviews where she interviews impactful entrepreneurs and leaders like Seth Godin and Marianne Williamson, and at WorkAlchemy.com for free resources for you and your business.

This article was originally published at https://www.workalchemy.com/best-business-partnerships and has been syndicated with permission.