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Setting Up A Public-Private Partnership

Setting up a public-private partnership can be hard. If you're the public entity how do you choose the right private partner, do you do it through a blind RFP and perhaps find a private partner that has the right background but you have no idea if you will mesh? If you are a private entity, how do you work to build the relationship with your public entities? Do you know how far or how deep your relationships need to go? Do you need your city, state or federal government involved? All 3?

A public-private partnership is a marriage of entities and just like a marriage you need to find a partner that you can be with for the long term, you need to build your relationship and you need to understand their interests. It doesn't mean you'll always agree on everything or that you will both contribute 50% of the effort on everything. However, with a strong relationship and understanding of your partners interests you'll see your path ahead of you and most of the time understand the direction you are headed.

We most often times find an aligned strategic plan or business plan is the best path to understanding and aligning interests. By establishing an aligned strategic plan early in the process, interests and roles can be established to help with aligning the path forward. It's critical that every partner buys into the strategic plan though, without buy in from everyone there will be missed opportunities and future problems may arise.

The key here is to build your path forward together and not make assumptions about your partners. If you need someone to help you build that path, that's what we're here for.