5 Steps (and 3 Pitfalls) for Building Strategic Corporate Partnerships

5. Sustain your relationships. "It's easier to create new partnerships than to sustain them," Mendenhall said. So you must take steps to sustain your relationships and keep that corporate support coming.

Mendenhall and Kinckle provided a list of ways to do that:

• write joint press releases
• share progress reports
• invite partners to board meetings
• think outside the box
• create VIP experiences
• provide updates on new opportunities
• request advice
• introduce partners to people who benefit from your programs
• involve leadership
• send handwritten cards
• send articles

"Over-deliver whenever you can," Mendenhall said. "Exceed commitments to corporate partners. It's always a good idea to under-promise and over-deliver."