Authored By Market Street Partners

This column is sponsored by Market Street Partners, PLLC

When we asked some of our clients to share with us their tips for success, we also learned what they want from their business partners. Earlier this year at Market Street Partners, we launched a campaign called “Why They Succeed.” In it, we featured five of our clients, each one of them explaining what specific things they’ve done to achieve their success to date. (Quick plug: You should read them!) The insights our clients shared were incredibly valuable, the kinds of tips that can benefit anyone in the business world. While we went into the project hoping to learn the things that have propelled them forward, we also learned from our clients what they want from their business partners. So, here are 5 things our clients want (and yours probably do, too) from their business partners.

Be passionate about their business

When we spoke with Chattanooga Whiskey’s Tim Piersant about his business, it was very apparent that it’s his passion project. The guy lives and breathes whiskey. Most business leaders feel the same way about their companies, especially if they’ve built theirs from the ground up. And these leaders want their service partners to be passionate about what they’ve built too. As Piersant told us, “when we find someone we feel is passionate about what we do, and they try hard to do their trade well, we want to stick with those people.” Read more about Chattanooga Whiskey.

Be willing to grow with them

You know the old saying, “if you’re not growing, you’re dying.” It’s true for so many things in life, including business — especially young ones. Startup veteran Santosh Sankar of Dynamo VC has seen that reality play out numerous times across the startup landscape. Naturally, his aim is to keep Dynamo VC on the up-and-up, and he wants his partners to be able to scale with him. He told us that “as our needs grow, we'll need business partners who are sophisticated enough to meet those new demands.” Read more about Dynamo VC.

Be knowledgeable of their entire operation

The phrase “partner” gets thrown around too often in the business world. Just because two entities do business together doesn’t necessarily mean they’re “partners.” A partner is someone who truly lightens your load. They are deeply invested in you, know the ins and outs of your full operation, come to you with ideas, and they readily address any pain points. That’s exactly what Patrick Wells at Majestic Stone looks for. He told us that he’s always “looking for partners who can help us grow and scale this company. I can’t do everything on my own because of how much other stuff I'm having to figure out." Read more about Majestic Stone.

Be more than transactional

When you’re building a business, whether from the ground up or to the next level, you want to know that your key business partners are more than mere order takers. In just a couple of years, Jack Silberman and Ryan Davis have grown Reliance HCM into a serious player in the employee benefits, payroll, and compliance space. They’ve done so in large part thanks to the personal attention they show their clients. And that spirit is exactly what they look for in their own partners. Read more about Reliance HCM.

Be accessible through more than one channel

The Lanewood Studio duo of Emily and Corey Critser are here, there, and everywhere. One day they could be in the field on a photo shoot and the next day they might be at their work desks. Slammed for time, they need to be able to get as much work done as possible online, but they also need to be able to dial up, or walk in to visit, their trusted business partners. Emily prefers “flexibility” in how she engages the people she works with — and we know she’s not alone. Read more about Lanewood Studio. Every business partner has unique needs, and based on the service you provide, your customer relationships may look different than others. But we believe the above 5 items are universal “wants” from every true business partner.

Read the full “Why They Succeed” series

Market Street Partners, PLLC is a Chattanooga-based CPA firm offering a wide range of accounting, tax, and advisory services.