Giving Compass’ Take:
• Cynthia Adams, writing for GuideStar Blog, discusses the steps that funders can take to build strategic partnerships that will lead to charitable success.
• One of the steps Adams outlines in this post is about choosing the right partner. How can donors utilize their networks to ensure they are tapping the right collaborators?
• Read more about the various models of collaborative philanthropy.
The key to being ready to apply for these types of funds is to establish a solid, strategic partnership with other organizations whose missions compliment your own. As an initial guide to help move your thinking forward, let me share some steps to undertake as you develop a strategic partnership.
Clearly, the first step is to engage your board and other leadership in a discussion around the issue of seeking significant funding to achieve your mission. This requires bold thinking. I believe that if your organizational leadership can think and act boldly, you will attract the strategic partners, and the funding, you need to fulfill your mission.
If you are looking for more articles and resources for Impact Philanthropy, take a look at these Giving Compass selections related to impact giving and Impact Philanthropy.
Once your organization’s leadership has agreed they want to move forward with a bold new approach, then you have to assess who will make good strategic partners in your endeavor. Before you approach an organization to see if they’d be interested in a partnership, you really have to know who about their existing relationships, network, reach, and of course their own mission.
Once you’ve accomplished these two steps, then you’re ready to actually establish the partnership, which will, of course, involve your organization and several others. Of course, implementing and managing the partnership is a fairly intensive task so it is important to take this into consideration during your annual budgeting process. It requires, and it deserves, a person who is dedicated to making the strategic partnership work.
And the final piece of the strategic partnership puzzle is to consistently evaluate the partnership and then re-group and refine the management of the partnership. Revisit your overall goals and objectives on a regular basis and make adjustments as you go forward.
Read the full article about strategic partnerships by Cynthia Adams at GuideStar Blog.
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