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Business: The Secret To A Successful Partnership? Leave Money On The Table

I’ve been a fan of financier Anthony Scaramucci for a while now, ever since I began watching Wall Street Week on Fox every Friday. While I don’t know him personally, aside from a few Twitter interactions, I jumped at the opportunity to pick up his new book, “ Hopping Over the Rabbit Hole .” In it, Mr. Scaramucci delves deep into his extensive experience as an entrepreneur to share the most valuable lessons he has learned. One such lesson struck a chord with me on a personal level: when negotiating, leave money on the table. I was intrigued to learn more, because it’s a philosophy I have long-since subscribed to as the CEO of  BodeTree . More often than not, I’ve caught heat from fellow entrepreneurs and stakeholders for my willingness to pursue mutually beneficial deals with our partners. Now, I had a story from someone I respected and admired who could validate my approach. In “Jumping Over the Rabbit Hole,” Mr. Scaramucci reflects on the first time he met one of the wealthi

8 Ways to Turn Partnerships into Profits

Every potential partnership has two customers and every successful partnership delights them both. Very few companies have the resources and know-how to successfully produce products and also distribute them. While this constraint weighs most heavily on cash strapped start-ups, even a behemoth like  Microsoft   MSFT +0.11% sells through distributors and Heinz relies on Kroger to pump out its best-selling ketchup. In a marketplace gone global, productive partnerships are more crucial than ever. Partnering has become so critical that the word “coopetition” had to be coined to describe companies that partner in some areas while competing in others. Yet very few partnerships ever deliver on their symbiotic promise. Why? The single biggest mistake we make in our partnership efforts is selling potential partners as if they were end users. While the interests of partners and end-users must overlap they are seldom if ever identical Back in the 1980s, Data Broadcasting Corporatio