New this week
A quick recap of the PH daily from this week:
- Warren Buffet's ecosystem bet
- Getting by giving
- Drawing mental maps
- Gartner on leadership
- Partnerships and ingredients
What has changed in the past three years?
In 2019, Caroline Cummings, who at the time was the VP of Business Development at Palo Alto Software, wrote a blog post about the Minimum Viable Partnership.
In it she outlines a few critical steps to applying Lean Startup principles to the development of ecosystems.
- Mission alignment
- Partner Agreements instead of Partner Contracts
- Fast Joint Value that can be measured
- Clear and agreed upon units of measure
- Demonstrable partner value tracking from both sides
- Fail Fast or Scale Fast mentality
This is sooooo good.
In 2019, however, we were just seeing the inklings of what would become the Decade of Ecosystem. So many of the measures in Caroline’s blog may now be outdated. New tools that are emerging in the space may allow us to go deeper into more tangible metrics.
Click through rates, and webinar attendance may be a thing of the past. Now we can measure things like, Account Based Networking reach outs, Co-sales, co-innovation attach rates, retention rates tied to ecosystem attach.
Hit us up on LinkedIn and let us know what you think better measures of successful partnerships are now, in 2022, and how they can be measured.
And read Caroline's post!
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