How do you develop and execute a partnership plan that covers the entire partnership lifecycle?

An effective partnership plan follows a lifecycle approach - first clearly defining the need and engaging potential partners to develop a shared vision, objectives, commitments and roles, while setting out the partnership process, principles and expected behaviors; then allocating tasks, establishing coordination and communication mechanisms, integrating the partnership into regular work, and evaluating outcomes to demonstrate commitment and impact; and finally continuously reviewing, revising and iterating the partnership to ensure positive outcomes, secure long-term sustainability, and prepare for renegotiation or ending -

To develop and execute a comprehensive partnership plan that spans the entire lifecycle, start by identifying mutual goals and aligning them with each partner's strengths. Next, draft a clear agreement detailing roles, responsibilities, and expectations. As the partnership progresses, maintain open communication, regularly review performance metrics, and adapt strategies as needed. Celebrate milestones together and always prioritize trust and transparency. Whenever possible, meet IN PERSON! You'll experience more transparency and honesty. Relationships are the keystone to a successful partnership. Remember, a successful partnership is a journey, not a destination, and requires continuous nurturing and re-evaluation.

Partnership is a key differentiating approach to retain your clients. When you treat your clients as partner they will stay with you as will continue to deliver your service while building invaluable trust. If you owed a restaurants and treated your clients as your guests, they will keep coming back because your service has fewer competitors.

The partnership lifecycle has become a well-recognised framework for thinking about partnerships. I find starting with the key objectives a helpful way to think about the different tools and approaches that will be required across the phases of a partnership's evolution. From experience understanding the collective motivation to act towards a shared goal is crucial. This typically leads into the type of relationship and helps identify the resources each party can bring to the table: - IP - governance - thought leadership - reach - human resources - structures - finances At every stage, your company, brand and narrative need to remain at the forefront.

One tool that I have found useful in tracking the partners once identified is the use of Microsoft Lists. This allows me to list the potential partners, and fill in comments on the progress of onboarding them. It also provides a collaboration opportunity with the team members and we can measure our success rates through the dashboards generated and evaluate their suitability as partners.

One aspect that can not be ignored, is the importance of trusting and using your intuition. It is through following your intution that the right partner for your busines can be identified. Consequently, in trusting your intuition you are guided to the essential research and harmoinic criteria that can lead to the creation of a balanced and mutually beneficial partnership which can be nurtured and over time, flourish.

If you are bringing the concept of a strategic partnership to a partner that is unaccustomed to that type of working relationship, once you’ve come to really understand their business, industry, goals, culture, resources, methodology and internal workings, you’ll want to take the lead in laying out a game plan for the relationship - after all, part of the value you bring is that you’ve done this before and know what is needed to make it work - and what has not worked in the past. Once that plan is hashed out and agreed to by all, it can be used as a map that measures results versus expectations and periodically adjusted on a rolling basis to overcome challenges not foreseen at the outset.

In any strategic partnership, there will be inevitable competition amongst market segments and offerings. The key to a successful partnership is to adopt an approach of "co-opetition" rather than pure competition and incorporate this perspective into partnership agreements. This is where outlining the roles, responsibilities, and scope with both parties seeking "Win/"Win" outcomes is paramount.

There’s a good and simple framework to help you structure the partnership. Define the following three things explicitly: - your value to the partner - partner’s value to you - joint value to the target customers This will help each side clearly see what they are getting out of the partnership and will ease the GTM formulation as well.

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Elevating the relationship is essential to growing the partnership and measuring is key. Has anyone implemented a reciprocal score card or any other way to track expectations and satisfaction for both parties?

Evaluating partnerships should be done on regular intervals. Do not wait for the final destination to arrive, you should review and optimize on intermediate stops also. This ensures that you are able to tweak and align further course of action with more flexibility.

I always believe partnerships should be long term, and keep renewing on auto pilot. You can always update and evolve the scope of the partnership, the framework and the roadmap, deliverables and key objectives.

You need to think about the full partnership cycle, from architecting the agreement to the end of it. Here are some of the things you need to do: - detailed change management process - training and onboarding new team members - transition period - flexible cost model - appropriate governance model with clear exit paths - build relationships and interest in the other side business - focus on the vision and growth.

Bring an open mind and try to see things from your partner's perspective. Expect and ask for the same from them. If they are unwilling to see things from your perspective and try to understand your needs and be willing to find compromises, they are not a good partner for you.