How to Spot Talent, Find Great Partners, and Build Long Term Business (and Personal) Relationships

Some things sound incredibly simple... and yet are extremely difficult to actually pull off.

Take the saying, "No one accomplishes anything worthwhile on their own." It's true -- but how do you find talented people to partner with? How do you build connections and partnerships that are not just mutually beneficial but allow a group of people to accomplish significantly more together than they ever would have as individuals?

That's the trick... and that's why I got advice from Scott Manson, Chief Operating Officer of SB Projects, the entertainment and media company that works with folks like Ariana Grande, Justin Bieber, Kanye, Usher...

Their business is based on finding talent, creating strategic partnerships, and spotting opportunities... just like yours.

(Note: I wrote the numbered headings that appear in bold; the text under each is what Scott told me.)

1. Building relationships and trust always comes first.

At a high level, the best partnerships happen when there's an opportunity neither side needs... but instead is something that both feel really makes sense to go for. (When one side really needs something, as opposed to wanting it, that can impact the partnership dynamic... and also make it harder to find and stay focused on common goals.)

But before that, any good partnership starts with building relationships and building trust. Our business moves really quickly, so in a short period of time we have to decide whether to make certain choices and take certain shots... and we're only willing to commit and put our reputations on the line if we can build great personal relationships and business relationships.

The goal should always be to win together and have fun while you do.

Find the right people to work with, and one plus one really does equal three. When you have complementary skills and non-overlapping partner value adds... something magical often happen.

2. Don't try to grab the watermelon; look for grapes.

Here's an example. We partnered with Universal Music Group, developing acts with them for three years.

We had a tremendous amount of success together. We were able to spot talent and bring our expertise to building their brands and rolling them out: styling, voice, music, brand, etc. UMG has tremendous resources and a worldwide staff. We were able to plug into that infrastructure in a way that both we and UMG had incentives to prioritize the relationship.

There are a lot of companies that try to partner with the music companies where they want to retain all the ownership and only give away a sliver of the economics. We don't work that way. We wanted to work with them... and we wanted to give them great reasons to want to work with us.

We're constantly looking for the next partnership to really drive culture and provide value, so we always try to cut fair deals. Think about it this way: you can ask for the watermelon, but if your partner doesn't have a reason to prioritize the relationship, that watermelon may have no value.

When you find the right partners and are both invested success, you both may only get grapes.... but you may both get a lot of grapes.

3. To find talent, get input... but also trust your instincts.

We're very fortunate in that we have a diverse network of friends and advisers in different industries. If we decide we want to partner in a particular sector, we know experts in that sector who can guide us to the people who can disrupt the industry in the most strategic way possible.

But honestly, when we're deciding who to represent or partner with, we have a very unscientific but proven system: the "Scooter (Scooter Braun, founder of SB Projects) Gut Check..

Scooter saw something in that YouTube video of Justin Bieber when he was 13... in Psy riding that invisible horse a few years ago... there's something magical about his instincts.

The Scooter Gut Check is not only the ultimate tie-breaker in deciding what we go for but the guiding light in what we follow. You will sometimes be wrong, but if you go with your gut and you're wrong, you will always learn a valuable lesson. If you go against your gut and you're wrong... that's an unforgivable offense.

As we keep scaling up the business and continue to grow in different industries like television, film, consumer products... it's impossible for us to have a hit rate of 100%.

You won't either, but never just think it's a number's game and take a scattershot approach: be very thoughtful and always try to protect your brand equity as you build it.

4. Knowing when to stop can be more important than knowing when to start.

Time is the most valuable asset we and our partners have. That means being decisive about when to shut something down, learn the lessons we need to learn, and apply them to the next venture is as important as deciding to get into a business in the first place.

If you don't, you find yourself in ventures that go stale, that distract you from more important aspects of your business, and that over time don't even fit with where you and your brand are going.

Don't be afraid to shut something down if it's not working. The only way you really fail is if you don't learn from what didn't work -- and if you don't apply what you've learned to whatever you do next.

5. Never try to control talented people.

We try to shape where the business goes. We're not the artists, but by providing artists with new influences, by opening creative conversations, finding ways for them to be inspired... we hope they will arrive at the same conclusions on the sound.

A good example is "Where are You Now," Justin Bieber's first single that was released in advance of his album "Purpose." Scooter was talking with Skrillex and Diplo and really felt Justin as a recognizable voice teaming up with those guys could create new a sound and would be refreshing and fill a void in the marketplace.

It was extremely successful, both critically and commercially, really helped establish Justin's sound going forward -- and he was very much a part of leading that creative process.

The takeaway is when you put super creative people together with other super creative people... they'll do great stuff. But you can't tell them what to do. The key is to put them in a position to succeed and then let them do what they do best.

6. If your industry is changing... stay as close to the talent as possible.

Like many industries, the business of music has changed dramatically. So as managers, we try to sit as close to the talent as possible.

Digital distribution and distribution in general is being disrupted, but the content and most sought-after, exclusive, and valuable content still comes from stars. So by helping them figure out how to release their music, position their music, cut the deals around their music as the business of the music keeps changing... then we're in a great seat, one that allows us to stay in front of the changes in the business instead of being forced to react.

Ultimately, the talented people in any industry will shape that industry -- so stay as close to them as you can.

7. No matter how big your reach, communicate as if it's one-to-one.

Especially where social media is concerned, one thing Scooter constantly impresses on all our artists and on our team is to always communicate in a one-on-one style.

People consume content and interact with your brand in an intimate way. Crack the person-to-person tone in an organic way and one-to-one natural becomes one-to-many as your community grows.

And don't try to control the social voices of your team. We aren't puppet masters who control every single social media outlet and mimic the voices of our talent. We want them to speak in their own voices.

What we want is authenticity and intimate and organic. Even if being authentic and organic sometimes is polarizing or leads to negative press, that's a teachable moment. We still want their real personalities to come across in social media.

That applies to everyone in our business, and should apply to everyone in yours. People don't build social relationships with companies. They build social relationships with people.

8. Never give up equity for celebrity promotion.

If a founder of an early-stage company is willing to give us a tremendous amount of their sweat equity to help with marketing and distribution... it's unlikely to work out unless they also have real resources behind them.

For example, often a startup founder will come to us and say, "I'll give you 25% of the company if (a particular artist) tweets about our product ten times..." but it doesn't work like that. Talent decides what they promote. Fans decide whether they believe it and whether it's worth a look...

The fans are incredibly smart. The FCC is trying to figure out how to manage sponsored posts on social media, proposing guidelines like #sponsored or #ad to let people know the artist is being paid to promote something... but that kind of thing is unnecessary.

Fans are smart. They can tell.

Source: www.inc.com

Image Credit: Scooter Braun via Instagram

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Relationships Without Reciprocity Are No Relationships At All

We live in a business world fueled by greed, self-aggrandizement, and artificial relationships that lack real depth, purpose and meaning. For example, a company’s good intentions to build momentum through partnership and mutuality is met with an act of deceit when the other party attempts to get the most out of them without any desire to contribute and add value to the relationship.

One-sided relationships appear to be the sign of the times. More than ever, I’ve seen companies and their leaders that are in search of the intellectual capital and know-how they lack but need to compete – yet they implement unethical practices that further widen opportunity gaps, disrupt growth and perpetuate the lack of trust that continues to reverberate in business.

IMAGE:Shuttershock

Building mutually beneficial business relationships is more difficult than people think.  It’s not just about whether you can trust someone anymore, it’s whether you can expect the other side to add substantive value.

For example, I was recently asked by a client to help one of their external partners, a leader from a highly reputable organization. During our call, the leader kept asking me questions, requesting proprietary information and several other times crossing the line with the types of questions and requests that were being made. Never during the call did this person ask, what can I do for you? It was all about this leader’s needs.

This experience revealed that the leader 1) didn’t value the relationship with my client enough, 2) lacked professionalism and common courtesy, and 3) didn’t have any real substance or possess any real knowledge or wisdom. It was clear that the leader was on a desperate treasure hunt to find answers.

This leader didn’t care about building a relationship – but rather was only focused on his own agenda. His selfish actions reflected an attitude that made me begin to question the integrity of the organization and brand he represented. If this leader’s CEO would have heard the call, I can assure you this person would have lost his job. Without reciprocity, it’s a zero-sum game. Creating and sustaining momentum is impossible.

These days, leaders are beginning to expect more from their employees, clients and partnerships – without any reciprocity. But you cannot lead alone. Leadership requires relationships that add mutual value. The moment a leader takes the relationship for granted – there is no relationship.

Unfortunately, leaders try to hold onto business relationships for the sake of having a connection to a particular company or brand – only to learn in the long run that the relationship was not worth the time and frustration.   More than ever, leaders must know how to anticipate the unexpected to most effectively evaluate business relationships (here are six ways).

To avoid falling into the traps of a business relationship not worth having – here are five signs that your relationship lacks reciprocity and is headed in the wrong direction:

1. There is Always an Excuse (Feels Threatened)

You know that your business relationship lacks reciprocity when you feel forced to do all the work because there is always an excuse on the other end.When excuses begin to constantly prevail, this is a sign that your business relationship is becoming one-sided and the other side is feeling threatened and uncomfortable, territorial and distant.

Rather than inflict more frustration and damage, put the relationship to the test. Demand more from your business relationship and if performance does not improve and the attitude still lingers – do yourself a favor and call it quits. If you are in a relationship that doesn’t value you enough, get out before it’s too late.

2. Never Takes Ownership (Lacks Marketplace Relevancy)

When both sides don’t take ownership for the mutual benefit of the relationship – it’s time to reevaluate it. How many times have you been in a business relationship where everyone is equally excited and then it begins to wane? More often than not, these are the relationships where one of the parties is beginning to lose marketplace relevancy and their impact is fading. The template they’ve been using for years to drive growth is no longer producing results. When they can no longer keep up with marketplace needs, reciprocity becomes difficult and eventually the relationship ends.

It’s difficult to sustain a business relationship when you are the only one that is able to take ownership and remain relevant because your team and brand overshadows the strength and capabilities of the other.

3. Limited Capabilities to Seize the Opportunity (Lacks Subject Matter Expertise)

A lot of business relationships are created from an impressionable encounter and/or introduction. But over time you find that reciprocity becomes difficult because the people that are responsible to manage the relationship have limited capabilities.  For example, the leaders at the top of the organization may seem the most impressive. They say the right things and make lots of promises about what their contributions to the relationship can bring. But the reality is that those who are responsible to do the heavy lifting – to give the relationship life – may have average competency levels at best.

When your capabilities greatly exceed those of the company you have forged a business relationship with, you are headed down a slippery slope – where opportunities can’t be seized together. Keep your business relationships on their toes, challenge their commitment and notice if they are expecting you to make all of the sizeable investments in time, money and resources. Also, be mindful of whose subject matter expertise is making the real difference towards driving outcomes.  If you are the only one sharing, it’s time to end the relationship before circumstances force your hand.

4. Doesn’t Contribute in Meaningful Ways (Lacks Desire to Collaborate)

Successful relationships are the byproduct of each party sharing the harvest of one another’s best practices, knowledge and wisdom. Relationships can’t build momentum when one of the parties lacks the desire to collaborate and discover new ways to win together. Those who consistently fail to reciprocate are the leeches. This is the type of individual that steals and/or takes the credit for the other’s ideas and strategies. They lack the courage and vulnerability to admit they don’t have the answers and instead are in search of manipulating others to share the harvest (i.e., intellectual capital/know-how) without wanting to do the same. These types of leaders do not have your best interests at heart; they only care about their own agendas. They are not willing to compromise to make the relationship mutually beneficial.

When business relationships lose sight of the mission (centered on reciprocation) – and there is not enough balanced strategic focus between the objective and the outcome – this is a sign that the relationship can’t sustain itself over time. It’s best to respectfully break free and move in a new direction.

 5. Are Not Grateful (Lack Appreciation)

Oftentimes, business relationships grow complacent to the point where one of the parties begins to take the other for granted. When you or the other side of the relationship begins to lose appreciation for what the other is trying to accomplish for the betterment of a healthier whole – respect quickly begins to fade.

If you can’t find respect in a business relationship, you will never create and sustain momentum together. When respect reverberates throughout a relationship, it multiples the impact of the relationship. Without respect, trust is lost, complacency rises and reciprocity fades. If you ever detect that you are losing respect from others, course correct and part amicably before tensions rise and problems escalate.

Real business relationships produce positive results for both parties for one core reason: reciprocity. Without reciprocity, there is no relationship. When you stop having each other’s backs and lack the desire to give more than receive, the relationship can quickly go awry. Most notably, you have to care a lot and trust the people you work with in the relationship to cultivate an environment of innovation and initiative.

In the end, success comes most to those who are surrounded by people who want their success to continue, and that includes your business relationships. Nurture those relationships founded on the trust and mutual respect that comes from having each other’s best interests at heart. But also know when to let go of a relationship that’s all about the other’s agenda, where things are always being asked from you but never for you, and where the more you give the more they try to take.

source:www.forbes.com 

ABOUT WNFP
Westchester Networking for Professionals (WNFP) is an organization consisting of professionals and entrepreneurs which focuses on the success of our Members. We help our Members establish lasting relationships and generate new business opportunities towards the growth of their business.
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