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.
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