Mark Brigman is the founder of the company and author of book Partnernomics. After a career leading partnerships with Sprint, Mark studied the economics of partnering, wrote a book, and took the leap to launch a company focused on helping others drive successful partnerships. In this episode, he shares the five phases of a successful partnering process.
KEY TAKEAWAYS
Successful partnering starts with a playbook. Here are the five key elements that Mark has learned drives repeatable success:
- Partnering Strategy – create a living strategic plan to drive internal alignment from the CEO down to the field on what, how, and over what time frame you are going to achieve through partnering
- Engage Partner Candidates – identify your high value candidates, understand their business model, position your value proposition, then objectively score and rank them against each other to maximize your probability of building a long term successful partnership
- Negotiate the Partner Agreement – start with a business term sheet that lays out how you are going to work together. Make sure you have total alignment before getting legal involved and before you sign the agreement!
- Close the Agreement – make a go or no go decision based on alignment and strategic fit with the partner
- Operationalize the Partnership – proactively manage to success leveraging the Strategic Partner Leadership Model
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Over 50% of failed partnerships can be eliminated before the deal is even signed - @partnernomics Click To Tweet The most powerful partnerships out there are the ones where our strategic plan intersects with their strategic plan. - @partnernomics Click To TweetLINKS & RESOURCES
- Follow Mark on Twitter and LinkedIn
- Read Partnernomics
- Listen to the Partnernomics Podcast
- Check out the special offer for 2 free months of Magentrix