What makes a great strategic partner?
by Jim Ries
In today’s interconnected professional landscape, successful business development no longer depends solely on individual expertise – it hinges on strategic partnerships. For law firms and accounting firms alike, the right alliance can lead to better client outcomes, expanded service offerings, and sustainable growth. But what makes a great strategic partner?
Here are five essential traits:
- Shared values and vision. Trust is the currency of any strategic relationship. That trust starts with alignment – of ethics, client service philosophy, and business objectives. Partners should be clear about what they stand for and where they’re going. When values and vision are in sync, collaboration becomes seamless and long-term goals stay front and centre.
- Complementary strengths. Strategic partners don’t duplicate, they complement. The best partnerships form when each party brings unique strengths to the table. A law firm with deep regulatory knowledge may team up with an accounting firm skilled in international tax compliance. Together, they solve complex, cross-border challenges that neither could manage as effectively alone.
- A client-first mentality. The goal of any strategic partnership is to create more value for clients. A great partner understands that joint success comes from serving shared clients with care, consistency, and creativity. This means coordinating outreach, aligning messaging, and ensuring the client experience is cohesive, not competitive.
- Commitment to communication. Frequent, open communication is the heartbeat of any strategic relationship. It ensures that both sides stay informed, responsive, and proactive. Whether it’s regular check-ins, joint marketing efforts, or client service coordination, good communication helps eliminate silos and build momentum.
- A spirit of reciprocity. The most resilient partnerships are built on mutual benefit. This doesn’t mean quid pro quo referrals – it means looking for ways to support each other’s goals and grow together. A great strategic partner is generous with insights, willing to invest time, and happy to celebrate shared wins.
In a world where clients demand holistic solutions and multidisciplinary advice, the ability to collaborate is no longer optional – it’s essential. Accountants and lawyers who embrace strategic partnerships aren’t just expanding their networks, they’re future proofing their firms.
So, what makes a great strategic partner? It’s someone who shares your values, brings different strengths, prioritises clients, communicates clearly, and invests in mutual success. When you find that kind of partner, hang on tight, because together, you’re stronger.
As Director of Business Development, Jim Ries works to increase Offit Kurman’s visibility, reach, and value in the business community. In support of this, and in tandem with the firm’s marketing team, he develops and manages outreach programmes designed to educate business owners and entrepreneurs at every stage of their business and personal lives, as well as provide resources to families who wish to protect and pass on their wealth.