It only adds up in the right order
In partnerships, there’s only one equation that really matters.
Win + win + win
Customer, partner, company.
But the customer win has to take first priority. If they don't win, none of the other wins matter in the long run.
Re-center yourself on the customer. Get them a win first.
4 'C's to better partnering
“But it all sounded so good.”
You bet on a partnership and it didn’t work out. You tried vetting the partner. You thought you were aligned.
But you didn’t account for that one thing.
I asked Bernhard Friedrichs (15+ year partnerships veteran) about a time this happened to him.
I saw a company that was really active with their ICP and confirmed that they were a credible partner. I got really excited. Later, I realized I didn’t think about how their core business worked with ours. They didn’t have the infrastructure to sell our product.
Here’s his 4-C Framework to make sure that doesn’t happen again:
C - Customer Base
C - Credibility – Do they have credibility and trust with your ICP?
C - Capability – Is their sales team suitable for what you’re trying to sell? Do they have the right infrastructure to sell your product?
C - Commitment – Do they want this as much as you? What happens if they don’t sell? Why would selling your product become a priority for them?
Bernhard put together this free strategy canvas to help you visualize it.
Check it out!
Partnerships in the Wild
Shoes and food.
I think this is the kind of partnership The Hustle was talking about.
Stuff you don't want to miss!
- September 7, 4-10 PM EST – INVITE-ONLY EVENT – Nearbound at Night – We're partnering with HubSpot for some major fun on the green ⛳️. Only a 5-minute walk from HubSpot's Inbound 2023 conference. VIP guest list. Toasts from industry leaders like Scott Brinker, Harbinder Khera, Tyler Calder, and more. Request an invite here.
- September 28, 12 PM EST - Game Changers: Isaac Morehouse — Isaac will join Oana Manolache to talk about how to use content creation to define a category. He'll share the 3 elements to help you build brand awareness, drive pipeline, and unite your team. Register here.