Forming meaningful and productive partnerships in the dynamic landscape of the newly minted Advanced Air Mobility (AAM) is a complex and crucial aspect of fostering long-term business success. With my two decades of experience in the electric mobility industry, I’ve learned that establishing strong foundations for collaborations requires a thoughtful and strategic approach. Here are some insights and guidelines to help navigate the path toward mutually beneficial partnerships.
The Challenge of Choosing Partners in AAM
As a team player and collaborating, determining who to collaborate with and fostering successful partnerships can be one of the most challenging aspects of any business endeavor, not necessarily limited to AAM. It involves assessing compatibility, defining expectations, and establishing clear boundaries. While there may not be a one-size-fits-all template for vetting potential partners, employing common sense, due diligence, and a measured approach will contribute to the development of robust and lasting business relationships. Mostly, having self-awareness and understanding how you operate, where your boundaries are, and clearly laying out norms and expectations is a must-first step.
Beyond First Impressions in AAM
The AAM industry is flourishing with veterans and newly minted experts. We’ve all encountered individuals with whom we instantly connect and envision potential synergies. However, it’s important to recognize that initial impressions may not always reflect long-term compatibility. How often have we felt a deep connection with someone, only to later realize that our collaboration didn’t bear the expected fruits? Mostly, how often do we stop short at words and rarely check in with backgrounds confirming claims?
In our enthusiasm for meeting fresh faces, new projects, and initiatives, it’s easy to get carried away with lofty ideas and overlook potential red flags. This is where the adage “Trust, but verify” becomes the guiding principle. As individuals who thrive on connecting people and resources, we must exercise caution and discernment in assessing the potential contributions and reliability of our partners.
Electric Mobility Lessons Learned: A Practical Guide
- Define Project Scope: Before engaging potential partners, clearly define the scope and objectives of the project. This provides an obvious solid framework for assessing the relevance and potential contributions of collaborators.
- Identify Complementary Strengths: Determine what each partner can bring to the table. Look for complementary skills, expertise, and resources that align with the project’s needs.
- Due Diligence: We cannot stress this point enough, conduct your due diligence. Don’t simply rely on what is said. Conduct thorough research and background checks on potential partners. Double-check facts, what was said, and backgrounds, and pick up the phone to talk to people close to the project or a new person introduced, regardless of visibility. Refer to my previous article on due diligence to mitigate risks and make informed decisions.
- Assess Consistency: Pay attention to the consistency and reliability of your partners’ contributions. If they commit to providing resources or support, do they follow through? Do they introduce you to their partners? Do they bring you on as many projects as you do? These are all red flags that need to be dealt with from the beginning.
- Spotlight Stealing: Be cautious of individuals who constantly shift the focus to themselves or their achievements. While self-promotion has its place, excessive emphasis on personal accomplishments may indicate a lack of team orientation. This is one of the easiest red flags to see. Act on it. Take a step back and reassess the situation.
- Team Orientation: Foster a collaborative environment akin to a rugby team, where every player has a role, and success is measured by collective achievements rather than individual glory. Rugby teaches you that there are no prima donnas. Everyone plays, anyone can score, and the whole team stands united. It can get rough, but we have a lot of fun after the game with the opposing team.
Elevating the AAM Partnership Expectations
We cannot stress enough the third point of due diligence. What we experience in the electric vehicle (EV) industry is after years of deep groundwork and slow starts experts coming out of the blue. Today, no one remembers them or knows where they are. They probably went to look for the next shiny industry. AAM is the next shiny industry. The fourth point above is especially critical. As people and resource gatherers, we tend to get excited about potential synergies. However, if, by the second project, commitments aren’t fulfilled, it’s prudent to adjust your expectations. If the elevator doesn’t come back up, stop sending it down. If you’ve brought on people to many projects and still haven’t been brought in, at the very least slow down and reassess the situation.
Regarding the fifth point, be wary of partners who excessively justify themselves or their actions, as in anything in life. They might have something to prove, and that something will take priority over the team’s goals. While it’s natural to want to showcase one’s strengths, constant self-promotion may indicate a lack of confidence or a tendency to overshadow the contributions of others.
Conclusion: Building a Solid Foundation in AAM
I often test potential partners with a simple equation, IQ+EQ+SQ= well-rounded people. What this means is that a person with a high IQ but devoid of empathy and no spirituality (not necessarily religion) doesn’t always make for a good team player. Likewise, a low IQ and high EQ with little to no SQ leaves you with an empath who might not make the best business decisions.
The rugby analogy helps me determine how well a person understands team playing. People who have played rugby make for great team members.
Remember, successful partnerships are built on time, endurance, trust, transparency, and a demonstrated shared vision. By clearly defining expectations early, conducting due diligence, and fostering a team-oriented culture, you can cultivate long-lasting and productive relationships that propel your AAM endeavors to new heights.
Navigating partnerships in the AAM industry requires a thoughtful, measured, and pragmatic approach. After, we’re in aerospace and nothing happens fast. By applying some of the lessons learned and guidelines outlined above, you can establish strong foundations for collaborations that are mutually beneficial and contribute to the success of your AAM ventures. I’m always looking forward to your thoughts and comments on such lessons. What have you learned to foster successful collaborations and partnerships?
