Young: Rising wave of entrepreneurial partnerships

Partnerships often chart unknown territory. Different forms of organizations…may meet in a common space.

There is a new paradigm for progressive change upon us in the Okanagan.

Last week, I had the privilege of sharing with you a new community-based partnership between the Scotiabank, Central Okanagan and the Okanagan Valley Entrepreneurs Society.

With some innovative networks on the near horizon, I began  to ponder the new paradigm for progressive change that is upon us in the Okanagan—entrepreneurial partnerships.

Yes, it has been talked about, perceived in its existence, and even shouted from the rafters—but somehow we just haven’t quite reached that pinnacle of achievement to celebrate  we made it. Until now.

There has been a considerable effort in trying to understand the psychological and sociological underpinnings that entrepreneurship does indeed possess.

Common characteristics have been noted among all entrepreneurs—a need for achievement, perceived focus of control, risk taking and intuitive logical reasoning.

These participants also comment in the common yet not universal thread of childhood deprivation, minority memberships and early adolescent economic experiences.

Chalk it up to the roller coaster ride we are experiencing in our Canadian and global economy, or perhaps, we, as a society, are finally, warming to the realization that, if we belief that, we are, by nature, an entrepreneurial landscape, then let’s celebrate that recognition with action.

Partnerships often chart unknown territory. Different forms of organizations with different internal structures, mandates, purposes, values and decision-making procedures may meet in a common space, often for the first time.

When people of different backgrounds decide to work in partnership towards a shared objective, they need to identify and accept the necessary development of their communication skills in order to progress with attainment of the common goals.

For development of a multi-stakeholder partnership, the first phase is to understand thoroughly the context for success, to build a group of supporting, relevant organizations,  the purpose and vision without structure.

Once the vision and commitment is clear,   the second phase starts a more formalized dialogue, to clarify roles and structures and lay down agreements.

The third phase is giving attention to a smooth implementation and the celebration of success.

Finally, in the fourth phase  the key to success is to manage the transition from the initial model of partnership towards a larger more substantial entity.

This sometimes requires new partners, governance structures or even a change of management of the process.

The entrepreneurial partnership creation can achieve untold community and regional gains, both personal and organizational.

Kelowna Capital News