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What do you do if your partnerships are struggling to adapt in a rapidly changing industry?

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Partnerships are vital for any business that wants to grow, innovate, and reach new markets. But what happens when your industry is facing disruption, uncertainty, and rapid change? How do you keep your partnerships strong and relevant in such a dynamic environment? In this article, you'll learn some practical tips to help you adapt your partnerships to the changing needs of your customers, partners, and industry.

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Chris Lavoie, PhD

Partnerships Leader @ AfterShip // Founder of EcoUniversity
Mohammed Naseer Ahmed

Co-founder at eWAY | Partner Management | Helping businesses grow with partner relationship management and Business…

1 Assess your partnerships

The first step to adapting your partnerships is to assess their current state and performance. How well are they aligned with your strategic goals and vision? How satisfied are you and your partners with the value and benefits of the partnership? How responsive and flexible are they to the changing demands and opportunities of the market? You can use various tools and methods to evaluate your partnerships, such as surveys, interviews, feedback sessions, SWOT analysis, and KPIs. The key is to be honest, objective, and constructive in your assessment, and to identify the strengths, weaknesses, opportunities, and threats of each partnership.

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Chris Lavoie, PhD

Partnerships Leader @ AfterShip // Founder of EcoUniversity
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Slow down and simplify The key is to re-define your ideal partner profile (IPP), much easier said then done in a rapidly dynamic market By studying the leaders of the pack in your ecosystem, you can reverse engineer perhaps what your new IPP identity should be Targeting a cluster of companies fitting that mold should give you an indication quickly if you’re on the right track - or if adjustments need to be made Critically, you’ll need to be disciplined in quickly moving on from companies who aren’t a good fit AND moving quickly with companies who DO seem to be a great fit

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Mohammed Naseer Ahmed

Co-founder at eWAY | Partner Management | Helping businesses grow with partner relationship management and Business intelligence Solutions | Business Strategy Consultant
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If your partnerships are having a tough time keeping up with a fast changing industry and it's crucial to take a step back and figure out what's going wrong. Work closely with your partners to figure out what challenges they're facing and come up with new ideas together. Keep communication open, be flexible, and be ready to try new things. You might need to change your plans or focus on different areas to fit in with the changes happening around you. By tackling problems head on and being open to change, you can help your partnerships succeed in a rapidly changing industry.

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Nikhil Gampa

Developing Social Innovations and Scaling Impact Through Collaborations and Partnerships
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When partnerships struggle to adapt in a rapidly changing industry, initiate open communication with partners to understand challenges and brainstorm solutions. Reassess partnership goals, alignment to mutual vision and strategies to ensure alignment with the evolving landscape. Foster innovation, invest in education and consider restructuring agreements or exploring new partnership models. We should seek external expertise for fresh perspectives. Following agile, ability to be resilient, and a willingness to embrace change are key to navigating challenges and thriving in a dynamic industry.

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Manh Tran

Entrepreneurial, competitive, results orientated, executive with more than 8 years of managerial experience with deep knowledge of the Go to Market
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In my experience, when partnerships face challenges in a fast-changing industry, the first step is a thorough assessment. We evaluate how well each partnership aligns with our goals and adapts to market shifts. Using tools like SWOT analysis and KPI tracking, we identify strengths, weaknesses, opportunities, and threats. This honest evaluation helps us understand where adjustments are needed to ensure relevance and effectiveness.

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Bruno Lobo

Gerente Comercial | Key Account | Gerente de Relacionamento | Sales Manager
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Qual é a primeira a??o que você deve tomar se suas parcerias est?o lutando para se adaptar em um setor em rápida mudan?a? a) Fechar as parcerias b) Comunicar-se abertamente e ouvir suas preocupa??es c) Ignorar a situa??o e esperar que melhore por si só

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2 Communicate with your partners

The second step to adapting your partnerships is to communicate effectively and frequently with your partners. Communication is essential for building trust, understanding, and collaboration in any relationship, especially in times of change and uncertainty. You need to share your vision, goals, challenges, and expectations with your partners, and listen to theirs as well. You need to keep them informed of any changes or developments that may affect the partnership, and seek their input and feedback. You need to acknowledge their contributions and achievements, and celebrate your successes together. You need to communicate clearly, respectfully, and transparently, and use the appropriate channels and formats for your messages.

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Manh Tran

Entrepreneurial, competitive, results orientated, executive with more than 8 years of managerial experience with deep knowledge of the Go to Market
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Effective communication is vital during times of change. We maintain open channels with our partners, sharing updates, challenges, and expectations. Regular feedback sessions ensure everyone's voice is heard, fostering trust and collaboration. Clear, transparent communication builds resilience and allows us to navigate uncertainty together.

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3 Innovate with your partners

The third step to adapting your partnerships is to innovate with your partners. Innovation is the key to staying ahead of the competition, meeting the evolving needs of your customers, and creating new value and opportunities for your business and your partners. You need to foster a culture of innovation in your partnerships, where you encourage creativity, experimentation, and learning. You need to collaborate with your partners on finding new ways to improve your products, services, processes, and systems. You need to leverage the diverse skills, resources, and perspectives of your partners, and co-create solutions that benefit both parties.

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Manh Tran

Entrepreneurial, competitive, results orientated, executive with more than 8 years of managerial experience with deep knowledge of the Go to Market
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Innovation drives adaptation in partnerships. Collaborating on new ideas and solutions keeps us ahead of the curve. By fostering a culture of creativity and experimentation, we explore innovative approaches to address evolving customer needs and market dynamics.

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4 Negotiate with your partners

The fourth step to adapting your partnerships is to negotiate with your partners. Negotiation is the process of reaching mutually beneficial agreements that reflect the changing realities and expectations of the partnership. You need to negotiate with your partners on various aspects of the partnership, such as roles, responsibilities, commitments, expectations, rewards, risks, and costs. You need to negotiate with respect, fairness, and openness, and aim for win-win outcomes that satisfy both parties. You need to be prepared, flexible, and willing to compromise, and avoid conflicts and disputes that may damage the partnership.

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Manh Tran

Entrepreneurial, competitive, results orientated, executive with more than 8 years of managerial experience with deep knowledge of the Go to Market
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Negotiation plays a key role in adapting partnerships. We engage in respectful, fair negotiations to realign roles, responsibilities, and expectations. Seeking win-win outcomes strengthens partnerships and fosters mutual growth.

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5 Evaluate your partnerships

The fifth step to adapting your partnerships is to evaluate your partnerships on a regular basis. Evaluation is the process of measuring and analyzing the results and impacts of the partnership, and identifying areas for improvement and growth. You need to evaluate your partnerships using relevant and reliable data, metrics, and indicators, and compare them with your initial objectives and targets. You need to involve your partners in the evaluation process, and solicit their feedback and opinions. You need to use the evaluation findings to celebrate your achievements, recognize your challenges, and plan your next steps.

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Manh Tran

Entrepreneurial, competitive, results orientated, executive with more than 8 years of managerial experience with deep knowledge of the Go to Market
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egular evaluation is crucial for adapting partnerships. We measure performance against objectives and solicit partner feedback to identify areas for improvement. Evaluation informs strategic decisions and ensures partnerships remain effective and relevant.

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6 Adapt your partnerships

The sixth and final step to adapting your partnerships is to adapt your partnerships accordingly. Adaptation is the process of making changes and adjustments to your partnerships based on the assessment, communication, innovation, negotiation, and evaluation processes. You need to adapt your partnerships to the changing needs and preferences of your customers, partners, and industry, and to the emerging trends and opportunities in the market. You need to adapt your partnerships to enhance their value and benefits, and to overcome their limitations and risks. You need to adapt your partnerships to ensure their sustainability and resilience in a rapidly changing industry.

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Manh Tran

Entrepreneurial, competitive, results orientated, executive with more than 8 years of managerial experience with deep knowledge of the Go to Market
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Adapting partnerships based on assessment, communication, innovation, negotiation, and evaluation is essential. We make necessary adjustments to meet evolving market demands, customer preferences, and industry trends. Flexibility and resilience are key to sustaining partnerships in a rapidly changing landscape.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Manh Tran

Entrepreneurial, competitive, results orientated, executive with more than 8 years of managerial experience with deep knowledge of the Go to Market
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Remember, every challenge presents an opportunity for growth. By embracing change and learning from setbacks, we strengthen our partnerships and position ourselves for long-term success. Collaboration, agility, and a shared commitment to innovation are our guiding principles in navigating industry shifts.

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What do you do if your partnerships are struggling to adapt in a rapidly changing industry?

1

2

3

4

5

6

7

1 Assess your partnerships

2 Communicate with your partners

3 Innovate with your partners

4 Negotiate with your partners

5 Evaluate your partnerships

6 Adapt your partnerships

7 Here’s what else to consider

Partnerships

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What do you do if your partnerships are struggling to adapt in a rapidly changing industry?

1

2

3

4

5

6

7

1 Assess your partnerships

2 Communicate with your partners

3 Innovate with your partners

4 Negotiate with your partners

5 Evaluate your partnerships

6 Adapt your partnerships

7 Here’s what else to consider

Partnerships

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