𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽𝘀: 𝗢𝗻𝗲 + 𝗢𝗻𝗲 = 𝟭𝟬𝟬𝟬
A solid Partnership Program presents a remarkable way to scale your business exponentially but require investment and carry risk.
With the right alignment around strategy, objectives, and motivation, your partners will help you grow exponentially.
“𝐀 𝐠𝐨𝐨𝐝 𝐜𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐩𝐮𝐬𝐡𝐞𝐬 𝐭𝐡𝐞 𝐛𝐨𝐮𝐧𝐝𝐚𝐫𝐢𝐞𝐬 𝐨𝐟 𝐛𝐨𝐭𝐡 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬.” - Neil Blumenthal
However, partnerships can go very wrong. Many startups drop too much limited time and resources only to create a huge distraction.
If you decide to move forward, here's how:
𝗙𝗼𝗿𝗺𝗮𝗹𝗶𝘇𝗲 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 for the program. Define specific objectives to measure later.
𝗘𝘃𝗮𝗹𝘂𝗮𝘁𝗲 𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀 based on their resources, capacity, technology, and compatible values.
𝗦𝗵𝗮𝗽𝗲 𝗮𝗹𝗶𝗴𝗻𝗺𝗲𝗻𝘁 around mutual success. Ensure value from the partner’s perspective.
𝗘𝘀𝘁𝗮𝗯𝗹𝗶𝘀𝗵 𝗽𝗮𝗿𝗮𝗺𝗲𝘁𝗲𝗿𝘀 such as the process, costs, and legal.
𝗗𝗲𝗳𝗶𝗻𝗲 𝗿𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀 for both sides. Communicate regularly to share useful information and to address challenges.
𝗕𝘂𝗶𝗹𝗱 𝗺𝗲𝘁𝗿𝗶𝗰𝘀. Learn and adapt regularly.
Alignment around strategy and rewards can lead to huge success.
Photo by Mikael Blomkvist who can be found here: https://bit.ly/3vrVJbY