Here's how you can navigate a partnership failure and determine when to pivot or change direction.

Initiating a partnership is easy as compared to sustaining the same. As a partnership is formed between two parties for a mutual benefit, it is important to set them in phases and milestones. We have to set the SMART goals for each of these phases and review the same along with our stakeholders involved. These reviews can help us understand the following: 1. What we are doing good? 2. What we can do better? And thus pave way for course correction and moving ahead with the right approach. Hence, it is important to review and assess each step and process in the partnership.

1. Emphasize the need for open communication: Highlight the value of engaging in open dialogue with your partner to address concerns and challenges. Encouraging transparent communication can foster mutual understanding and collaboration in finding solutions. 2. Stress the significance of alignment on corrective actions: Emphasize the importance of aligning with your partner on the necessary steps to address the identified issues. Collaboratively developing and implementing corrective actions can help in improving the partnership's performance and sustainability.

Based on my experience, navigating a failed partnership requires careful thought and action. First, figure out what went wrong and how it affected the situation. Talk openly with your partner to address issues and decide whether to fix things or end the partnership. Look at your options, including doing things on your own or finding new partners, and make a decision based on current conditions and goals. If you need to change direction, create a new plan with clear steps and timelines, and keep track of your progress. Stay flexible, support your team, and be ready to adapt as new challenges or opportunities arise.

Para gestionar el fracaso de un partnership se requieren varios pasos clave: - Aceptar el fracaso: Negarlo solo prolongará el problema. - Analizar lo sucedido: Examinar las causas para entender qué ha salido mal, revisando expectativas, valores, objetivos, roles, decisiones, procesos, factores externos. - Reevaluar y ajustar el plan: Evaluar la situación para ajustar estrategias y planes. - Tomar acción: 2 opciones A. Corregible: Implementar cambios necesarios y revisar periódicamente. B. Insalvable: Descontinuar la relación, revisando la afectación legal y planificando la discontinuidad. Mantener siempre una actitud positiva, ganas de corregir, mentalidad constructiva, ser dialogante y colaborativo, y evitar agendas ocultas.

It's crucial to make a simple business case every time trying to launch a new partnership. It's a must-have for strategic partnerships but very often neglected in smaller ones and hence can result in lost time and money. Quite often many partnerships are based on the assumptions that need to be validated. Create a template questionnaire and try to challenge both yourself and a potential partner with "uncomfortable" questions. Try to see if and how your goals and approach to their execution align. It's always better to spend a bit more time earlier than lose money later.

Navigating a partnership failure requires open dialogue. First, understand what went wrong with the partner—lack of motivation, organizational issues, or financial problems. Honest discussions are crucial to pinpoint the exact causes and recognize why the partnership failed. This clarity helps in addressing the issues directly and learning from the experience. Once you decide to pivot or change direction, move on thoughtfully. Take the time to find a new partner who aligns better with your goals and values. Avoid repeating past mistakes by carefully evaluating potential partners, ensuring they possess the necessary resources and commitment. This approach mitigates future risks and sets the foundation for a more successful collaboration.

Honest, transparent & openness in partnership is fundamental & requisite need. The expectations of both/all parties must be on the table any hidden or missed intent May lead to failure of the partnership. Open dialogues at regular intervals as the partnership progresses is a must.

Manter o diálogo franco e constante é essencial em momentos de press?o. A comunica??o regular facilita a troca de preocupa??es e promove um ambiente de colabora??o, onde ambos se sentem valorizados. Caso haja divergências significativas, um ajuste de rota pode ser necessário para garantir que os interesses de todos sejam contemplados.

Financial performance is one of the most important KPIs in measuring the partner's success. Of course, some partnerships may be a long play from the revenue impact perspective and some may be impacting the revenue indirectly, making it challenging to measure their contribution, nevertheless, there should be a clear ROI. Plan important revenue milestones your partnership must hit and measure whether they are achieved or not with your partners (or internally) every quarter or twice a year. If the partnership does not perform financially then you need to do a health check of your business plan and the activities conducted on both sides.

Always, always have your legal study the partner agreements thoroughly. From my personal experience, you might often be surprised that some conditions you wouldn't even think of can be a norm for your partner or their legal. Some of them if not adhered to can be subject to huge penalties or limit your company's standard way of doing business. Luckily in many cases, it's possible to negotiate the terms. If not, reevaluate the possible ROI from such a partnership against the potential risks.

If things do not go as smoothly as they should and you do not achieve your targets, the Simplest Plan B can be reprioritizing the partner or putting all the development activities and investments on hold. If the partner is lagging because of their lack of agility or commitment, it can be like a cold shower for them to get back on track. If the reason is deeper, it will give you time to assess the undertaken activities and understand what caused the underperformance and if and what can be done to fix it.

One thing I've found helpful with partnerships is to agree KPIs and OKRs as part of the initial agreement (it's OK if these change over time), including defined steps for dissolution, if the KPIs aren't met by one or more partners; There needs to be several touchpoints throughout the year with all partners, to assess performance v. results. All this allows for an "objective" assessment of how well the partnership is working (or not!), which is a little bit more removed from the 'subjective' determination of 'this relatinship isn't working' (usually based on friction / disagreements between individuals). It also allows for a more amicable dissolution of the partnership, if the relationship isn't working for one or more parties.