What are the most effective ways to manage multiple partner relationships?

There are plenty of good frameworks. While you can pick a thing or two out of these frameworks, it is difficult to use these frameworks in its entirety. Often many of these frameworks remain impractical. In my experience multi stake holder relationship management boils down to a few simple practices: 1. Identify and rank the stake holders in terms of short term and long term perspective. 2. Manage the top / most critical stakeholder exceptionally well. These are normally 2 max 3 (cant be more. If it is then you have not reviewed criticality properly). For these stake holders you should focus on delivering way beyond ask / expectations 3 Rest of the stake holders manage the pain points and dont give reason to complain.

Be honest and look for solutions that satisfy everyone. Also, help people get to know each other. Often, we lead with one of many positions that could work in the end. The negotiation book "Getting to Yes" goes into this in more detail. When people are feeling connected, it's easier to yield and make space for new ideas. Assume there is a path that works, even if it takes time to develop.

One of the key things to consider is "does this partnership fully align with my company's ICP?" If the answer is no, or you're not sure, it is not worth pursuing the partnership. It will only lead to wasted time and affected relationships further down the line.

First of all have vision and mission with objectives has to be agreed mutually understanding, legally partnerships framework, duely maintained decisions making process, trust worthy executions of tasks with transparent accountable practices and not showing any superiority to each other's these are the major factors to survive the partnership.

Having directly managed multiple partners for similar activities in my past roles, my experience is that each partner brings strengths across the wide spectrum of activity they offer. These can be across customer segment they can manage, complexity of work they can deliver or their ability to manage ambiguity. Identifying and defining the responsibilities with each partner helps in managing expectations. While each partner would vie for more share of pie in the activity, a clearly defined expectations helps them also understand which part of business will come their way or not. This helps partners work together as well than compete with each other.

Focus on establishing a genuine connection before jumping into business discussions. Learn about their business model, their targets, what matters to them, then what REALLY matters to them. Go the extra mile by noting down personal details like their dog's or kids' names. Be a real person that cares, don't just pretend to (They will see right through you!)

Business relationship management is a two-way street. Come prepared to your meetings, be honest and upfront in your responses, and identify any areas where you may have fallen short early on, along with your plan to address and remediate them. Doing so will go a long way in strengthening your rapport and building trust with your partners.