In an industry as dynamic as venue management, we’re often laser-focused on filling seats, optimizing spaces, and delivering standout events. But what if the key to sustainable growth lies beyond our four walls? I recently dove into The Partnership Economy by David A. Yovanno, a book that champions the power of collaboration as a growth engine for modern businesses. For venue managers, it’s a wake-up call to rethink how strategic alliances can elevate what we do.
Yovanno argues that partnerships aren’t just nice-to-haves—they’re a competitive advantage. Think about your venue: you’re already a hub for experiences, connecting audiences with performers, organizers, and brands. What if you leaned into that role more deliberately? Imagine teaming up with a local tourism board to bundle event tickets with hotel stays, drawing out-of-town visitors. Or collaborating with a tech startup to pilot a cutting-edge ticketing app that enhances guest convenience while sharing data insights. These aren’t just transactions—they’re relationships that amplify your reach and reputation.
The book highlights how partnerships thrive on mutual value. For us, that could mean working with a catering company to co-create themed menus tied to major events, boosting their profile while elevating the attendee experience. Or partnering with a sustainability consultant to make your venue a leader in green events, appealing to eco-conscious clients. The beauty is in the synergy: both sides win, and so do your guests.
One standout idea is the shift from competition to “co-opetition.” Rather than seeing nearby venues as rivals, what if you joined forces? A multi-venue festival pass could turn a quiet weekend into a regional drawcard, pooling marketing efforts and splitting the rewards. Yovanno’s examples—like brands sharing audiences to unlock new markets—remind us that collaboration can open doors we’d never crack alone.
Of course, partnerships aren’t effortless. They demand trust, clear goals, and a willingness to share the spotlight. But in venue management, where relationships are already our currency—with suppliers, promoters, and communities—were primed to excel at this. Start small: reach out to a local business for a cross-promotion, or pitch a joint event to a complementary venue. Test the waters and see where it takes you.
Yovanno’s big takeaway is that the partnership economy isn’t about doing more—it’s about doing smarter. For our VMA members, it’s a chance to reframe growth not as a solo sprint, but as a collective journey.
