Partnerships: Why You Need Them and How to Do Them

Last week on Creating Your Encore Career, I shared the next steps you should take in creating your Encore Career. These steps are your foundation when you’re just getting started. They take you from being fresh out of your corporate career, having no clue what you’re doing to running a successful business in your Encore Career.

I want to take some time to share more thoughts on this topic. Specifically, I want to talk about partnerships.

Why Partnerships Are Important

One of the highlights I’ve gleaned from the books I’ve been reading lately is the importance of partners. We just can’t do this Encore Career thing alone. 

Why?

Partners are people who:

• Encourage you

• Teach you

• Do work for you

• Connect you

Partners are essential.

How to Work With Partners

I’ve partnered with a variety of people in my Encore Career. Some ways I’ve partnered with others include:

• Hiring a Virtual Assistant

• Participating in masterminds

• Hiring a podcast production team

• Working with designers

• Collaborating with other entrepreneurs

Hiring my podcast crew has been one of the best partnership decisions I’ve made. They’ve freed up so much of my time so I can focus on the stuff only I can do. 

There are other best practices I’ve learned in this journey of partnering with others as well. Firstly, build a diverse network. Partner with people of all different ages, cultures, and skills and from different areas of the world. 

Secondly, remember that it’s more important to know “who” than it is to know how. Know about and let others use their expertise. 

Finally, collaborate with others and stop worrying about competing. There’s room for everyone. To fight against comparison, remember that some people need to hear your unique voice. 

I like the way Mike Kim sums up partnering: “Be the jelly to someone else’s peanut butter.”

First Steps to Build an Encore Career

Since the re-brand of Creating Your Encore Career, I’ve talked a lot about Encore Careers. I’ve explained what they are and why we need them in this day and age. 

In case you need a recap on why you should consider starting an Encore Career, let me remind you that 20% of people are over the age of 60 today. By 2034, more people will be over the age of 65 than under the age of 18. Therefore, older people are essential to the full functioning of our economy.

So, how do we actually make an Encore Career a reality? Today, I want to get into the specifics of how to start one and share the eight steps to building your Encore Career, as inspired by my good friend and mentor Mike Kim.

The Eight Steps

In his book, You Are The Brand, Mike Kim shares eight steps to building a brand. These can be applied to creating an Encore Career as well. The eight steps are:

1. Point of View

2. Personal Stories

3. Platform

4. Positioning

5. Products

6. Pricing

7. Pitch

8. Partners

Good Questions to Ask

When you are first starting this 8-step process, you need to ask yourself questions. Your answers will help you determine who you will help and what your Encore Career will look like. 

Two main questions are:

• Who am I? 

• What am I doing here?

Mike Kim’s PB3 is another method for figuring out who you are meant to help in this world. It includes three questions to ask yourself to determine what your Encore Career will look like. 

1. What pisses you off?

2. What breaks your heart?

3. What big problem will you solve?

My Journey

My own Encore Career journey has been going on for seven years now. In 2015, I attended the Permission to Prosper conference with Ray Edwards, Mike Kim, Jody Maberry, Andy Traub, and Steve Kurti. Then, I attended Jonathan Milligan’s camp 7 Streams of Income. From there, I began consulting in the manufacturing business and consulted with the Chamber of Commerce. 

My Encore Career journey took many twists and turns from here. In 2017, I got help from a Virtual Assistant, in 2018 I joined a training program for coaching on emotional intelligence, in 2019 I began this podcast, in 2021 I did a public webinar, and in 2022 I attended an MEA online event.

On episode 143 of the podcast, I get into more of the details of this process. Tune in there to learn more!

What The Modern Elder Academy Taught Me About Transitions, Identify, and Purpose

I recently completed the Modern Elder Academy Seminar. It was an amazing experience. I took some time on Creating Your Encore Career to share my initial reflections on it.

Basics of the Academy

I’ve talked about The Modern Elder Academy in previous episodes of the podcast, but for those who don’t know, it’s built upon the idea that, as we approach midlife, there are things we should continue doing with our careers. 

At about age 55, people start thinking of retiring but, at that age, we’re only halfway through our adult life. People are living longer and healthier these days and living longer will be more expensive.

This is what the whole premise of my podcast and the concept of Encore Careers is based on. The Modern Elder Academy serves in this area as well. It was established as a residency-based program in Baja, Mexico and, while COVID required changing that, it is now an amazing virtual program.

There are video elements of the residential program, recorded sessions from thought leaders, some “stretch” elements like poetry and other media, and reflection pieces built in. There are large live events spaced into the program with breakouts for smaller groups and weekly “cafes” that are loosely structured around the week’s content. 

The program has both a generous amount of content and flexibility in the live sessions. There is time intentionally allowed for people to ask questions and share observations.

Transitions and Purpose

Two main focuses of the academy are transitions and purpose. Some of the main themes around transitions discussed in the academy include:

1. Personal

2. Physical

3. Psychological

4. Mortality

5. Professional

6. Purpose

When you’re in transitions like these, you must go through certain stages. First, you must acknowledge that you’re leaving something. Then, you must embrace the messy middle and let yourself be in “the soup.” Finally, you can start navigating your new beginnings.

During transitions, especially that of going from a corporate to an Encore Career, identity and purpose are so important. Why?

• They help you move from achievement to significance

• They move you from a Human Doing to a Human Being

• They allow you to create a portfolio life

Learn more about The Modern Elder Academy here!

How Jonathan Milligan Built a Successful Online Business Through Connections

Jonathan Milligan helps entrepreneurs develop their businesses through training, coaching, and live events.

I first worked with Jonathan when I was beginning the journey of starting my business. Now, I’m a member and a coach in his group coaching practice. 

Recently on Creating Your Encore Career, Jonathan shared how he got started and how his business grew and developed. He talked about how, after creating a successful business, he then moved on to a deeper question: “Am I making a difference, as well as making money?”

Jonathan also shared how he discovered the importance of building relationships. He realized that they are just as important as providing knowledge. 

Group Coaching

For example, Jonathan adopted a group coaching model. Being in a group coaching program is amazing because you’re in it with people who have different business intents but are all on the same journey. In these programs, everyone brings different insights.

 Additionally, people come for the mentor but stay for the community. Building a business is hard work and takes time so you need a community there to support you.

Live Events

Jonathan also puts on an annual live event. He has learned some amazing insights from his years of experience in live events. If you’re considering adding this aspect to your business, here is his advice:

• Start small and be okay with that. If you limit the number of people who can sign up the first time you do it, it takes away the fear that no one will show up.

• Get your attendees talking. Have people discuss what they’re learning at their tables and in breakout rooms.

• If people feel heard more than they are being taught, you have a successful event.

Business-Building Roadmap

Jonathan now has a roadmap for entrepreneurs. It is a set of courses from level one to seven. You get plugged into a level depending on your business goals and progress. When you graduate one level, you unlock the next, join a new mastermind, and get a new coach.

When students are in this roadmap, Jonathan helps them adopt a “do this next” mindset. Instead of spreading your energy out and getting distracted by a million things, focus on the one thing you should do next. 

It is these small, specific steps that build momentum.