Peter Smyth: Pick Your Partners
May 4, 2009 at 9:09 AM (PT)
GREATER MEDIA Pres./CEO PETER SMYTH writes about "partnerships" in his "From The Corner Office" column this month.
"One of the most overused and misunderstood business terms these days is 'partnership," SMYTH writes. "It seems like anyone who wants our station to do a promotion calls it a partnership, and we lose sleep when our 'partner's' price demand means giving the store away. What's a radio sales professional to do?"
"Let's go back and take a look at the actual definition of a partnership:
"part*ner*ship 1: the state of being a partner 2: a legal relation existing between two or more persons contractually associated as joint principals in a business 3: a relationship resembling a legal partnership and usually involving close cooperation between parties having specified and joint rights and responsibilities (WEBSTER)
"Close cooperation with specified and joint rights and responsibilities. Wow! How many of the clients on your list qualify for that description?"
Read the full column here.