Educational partnerships between universities and public schools have existed for over 100 years. During this time, especially the last decade, many educational partnerships were formed, only to fizzle shortly thereafter. When educational partnerships have been formed to provide only temporary band‐aid solutions to very complex and multifaceted problems, they, like other trends, have faded away. Yet, some educational partnerships have continued to shine and to become viable coalitions. Successful partnerships focused on complex issues related to staff development, teacher training and school leadership require extensive collaboration, reflection, and continued revision. The purpose of this article is to explore some of the tenets that lead to the success and demise of school/university partnerships. In addition, this article describes a collaborative process employed by a university department of educational leadership, a regional consortium, and three school systems to design and offer a principal preparation program, delivered entirely in the field.