How Joint Business Planning can Transform Sales Results

Partnerships have become a crucial lever for growth. One of the most effective ways to cultivate these partnerships is through Joint Business Planning (JBP). In a recent episode of the Stronger Sales Teams podcast, Ben Wright, an experienced sales coach, sat down with Luke Hawley, a seasoned marketer and connector, to discuss how JBP can drive long-term business success. Drawing on years of experience in the corporate world and as an entrepreneur, Luke shared invaluable insights into the mechanics of creating powerful business partnerships.

As businesses evolve, so too must their collaboration. Joint business planning offers a more integrated, cooperative approach to achieving shared objectives, moving away from the traditional transactional mindset. Wright and Hawley delved into this topic, explaining how JBP is about closing deals and building relationships that lead to sustained growth. For seasoned professionals, mastering JBP can mean the difference between securing a one-off contract and developing a partnership that drives innovation and revenue for years.

Throughout the episode, Hawley’s expertise in building networks and creating strategic connections offers a roadmap for implementing JBP within their organisations. This guide will explore the key elements of joint business planning, share real-world examples, and provide actionable insights on how to make the most of these collaborations.

1. What is Joint Business Planning?

Joint Business Planning (JBP) is more than just a negotiation or transactional agreement between two businesses. At its core, it’s about two entities coming together to achieve shared goals by pooling resources and expertise. As Luke Hawley described in the podcast, JBP is “two very different businesses that have decided we’re going to work together in some way, sharing resources to deliver agreed goals.” This cooperative approach elevates the relationship beyond a simple supplier-customer dynamic, focusing instead on long-term success and mutual benefit.

The distinguishing factor in JBP is its focus on the partnership, not the transaction. Traditional business dealings often revolve around specific deliverables, pricing, or terms of service. Joint business planning, however, aims to build a more holistic relationship. Wright and Hawley emphasised the importance of moving beyond immediate financial exchanges, highlighting that true JBPs explore shared opportunities for growth and innovation. Whether it’s a large enterprise working with a key supplier or a small business collaborating on a marketing campaign, the ultimate goal remains the same: creating a sustainable partnership that benefits both parties.

This concept is increasingly relevant in today's business landscape, where collaboration can lead to more meaningful outcomes. Hawley’s perspective reflects this shift, focusing on partnerships that “go beyond purely transactional” and leverage shared assets to achieve more tremendous success.

2. Key Components of a Joint Business Plan

A successful joint business plan requires more than just an agreement between two parties; it needs a structured approach that clearly defines how both businesses will work together. Luke Hawley highlighted two essential components that differentiate a joint business plan from a typical business contract: shared goals and shared resources.

Shared goals go beyond the immediate benefits of the partnership. Instead of focusing solely on a transaction—such as a service delivered for payment—both parties work together towards long-term, strategic objectives. As Hawley explained, it’s about figuring out how both businesses can grow together: "We’re going to grow together to have a big impact on...whether it’s for the category within Coles or something like SaaS implementation." This focus ensures that both businesses are aligned and working towards a future that benefits both equally.

The second key component, shared resources, makes JBPs stand out. Hawley emphasised that JBPs require the exchange of more than just money for services: “It’s beyond just, ‘I’m going to give you money, and you’re going to give me a service in return.’” This might sometimes involve providing expertise, intellectual property (IP), or even physical space. For instance, sharing office space can reduce costs, while sharing human capital, such as placing staff in partner companies, can facilitate smoother operations.

The true power of joint business planning lies in leveraging these shared resources to create something greater than either company could achieve alone. It’s about fostering collaboration that brings new opportunities to the table.

3. Why Joint Business Planning is Better than Traditional Negotiation

In the traditional model of business negotiation, one party often feels they’ve made compromises that hurt their bottom line or future prospects. However, joint business planning (JBP) transforms this dynamic into a partnership where both parties actively contribute to each other’s success. As Ben Wright noted in the podcast, “In a negotiation, one party can come out anywhere from slightly aggrieved to seriously aggrieved,”. In contrast, JBP fosters a shared vision that removes much of the tension typical in negotiations.

Rather than focusing on what can be gained in the short term, JBP builds a foundation for long-term collaboration. One of the core advantages of JBP over traditional negotiations is that it avoids the competitive mindset, where each party tries to outdo the other. In contrast, JBPs create an environment where both companies work towards a common goal, sharing resources, expertise, and intellectual property. Luke Hawley explained, “It’s more about shared resources…not just money and services, but how we can work together to deliver agreed outcomes.”

In negotiations, the focus is often on reducing costs or securing better terms. In joint business planning, the focus is on achieving larger strategic objectives, often by combining strengths that can propel both companies forward. Instead of debating the specifics of a contract, JBPs encourage businesses to ask, “What else can we do together?” This opens the door to possibilities like co-marketing, shared office space, and even knowledge exchange, which are rarely considered in a typical negotiation.

Ultimately, joint business planning creates opportunities for innovation and growth beyond what either company could achieve alone, making it a superior approach for seasoned professionals aiming for sustained success.

4. Mechanics of a Successful Joint Business Plan

Every effective joint business plan starts with a well-structured, collaborative approach that goes beyond the traditional transactional model. According to Luke Hawley, the mechanics of a successful JBP involve “shared resources, shared goals, and moving beyond transactional thinking.” These core elements separate successful partnerships from simple contractual agreements.

The first key to a successful JBP is ensuring the partnership goes beyond the typical supplier-customer relationship. This means both businesses must be willing to share valuable resources such as intellectual property (IP), human capital, and physical infrastructure. During his time at Procter & Gamble, Hawley pointed out that they often shared their own staff with partners like Coles to collaborate on joint projects: “Our people were working in their office, sharing insights and helping them execute the plan.” This level of resource sharing allows both companies to benefit from each other’s strengths, creating a more efficient and mutually beneficial partnership.

The second component is open communication. Rather than having all discussions funnelled through a single point of contact, JBP encourages multiple departments from both companies to collaborate directly. For example, a marketing team might work with their counterpart in the partner company, while supply chain experts share best practices to reduce costs. This open communication fosters trust and ensures that both sides clearly understand what is expected.

Finally, cross-functional collaboration is vital. Hawley highlighted how Procter & Gamble’s account managers were no longer the sole point of contact with buyers. Instead, they facilitated interactions between their internal experts and their partners’ teams, helping both sides work together on everything from shopper insights to product development. This approach enables businesses to tap into each organisation's full range of expertise, driving better results.

By focusing on shared resources, open communication, and cross-functional collaboration, businesses can ensure their joint business plans are not just successful but transformative.

5. Case Study: Procter & Gamble and Coles - Project Breakthrough

One of the most potent examples of joint business planning in action is the collaboration between Procter & Gamble (P&G) and Coles, known as Project Breakthrough. This initiative, which took place around 15 years ago, fundamentally reshaped how P&G and Coles worked together, and it set a new standard for supplier-retailer relationships across Australia. Luke Hawley, who played a key role in the project, described it as a transformative experience that took P&G’s retail partnerships to a new level.

At the time, Coles struggled to keep up with its competitors, particularly Woolworths. Under new leadership, Coles sought to reinvent its retail approach, and P&G became a strategic partner in this effort. Project Breakthrough's focus on sharing intellectual property and insights, particularly in areas like shopper behaviour and category management, made it unique. Hawley explained, “We shared intellectual property...insights into shopper behaviour, shopper-based design, and used that data to help them put together experiments in the Coles ecosystem.”

The results were extraordinary. By working together on data-driven initiatives, the two companies saw significant improvements across multiple categories. For example, baseline sales in the skincare category increased by 15%, while other categories saw gains as high as 30%. The partnership extended beyond the traditional supplier-retailer relationship, with P&G employees even working within Coles’ offices to ensure seamless execution of the plan.

The success of Project Breakthrough was not limited to short-term gains. The project demonstrated how a well-executed joint business plan could deliver sustained value. By sharing resources and focusing on mutual success, P&G and Coles set a new benchmark for how businesses can collaborate strategically.

6. Applying Joint Business Planning at Different Business Levels

While large corporations like Procter & Gamble and Coles can invest significant resources into joint business planning (JBP), the principles of JBP are equally relevant for medium and small businesses. Regardless of company size, JBP enables businesses to pool resources and expertise to enhance both parties' long-term success. Luke Hawley stressed the importance of tailoring JBP to suit the scale and needs of the businesses involved.

For large enterprises, JBP might involve extensive sharing of intellectual property (IP), data, and human capital, as seen in the Procter & Gamble and Coles example. However, for medium-sized businesses, a JBP might look slightly different. In this case, Hawley suggests that companies can collaborate through co-marketing opportunities or by sharing key insights to reach mutual goals. For instance, one company might provide another with a dedicated landing page on its website in exchange for funding or resources that support both parties' marketing strategies.

Smaller businesses can also benefit from JBPs, often through creative partnerships. For example, two small businesses might team up for a shared marketing campaign, attend trade shows, or collaborate on a competition where each contributes a prize. As Hawley pointed out, “There are things that you can start to ask for that are low cost to them but high value for you.” Even without the resources of a larger organisation, small businesses can leverage JBPs to expand their reach and build credibility.

Ultimately, JBP is not limited to large-scale partnerships; businesses of all sizes can apply its principles to create value. The key is identifying shared goals and creatively pooling and deploying resources.

7. The Role of Trust in Joint Business Planning

Trust is the foundation of every successful joint business plan. Without a strong trust between the parties involved, the risks of sharing resources, intellectual property, and confidential business insights become too high to bear. Luke Hawley stressed that joint business planning is “something that’s earned over a period of time,” particularly because it involves a level of vulnerability that goes beyond typical business transactions.

When businesses enter into a joint business plan, they’re not just agreeing on deliverables or services. They often share their most valuable assets, such as intellectual property or human capital. For this to work, both sides must feel confident that the other will act in good faith and protect the partnership's interests. As Hawley mentioned in the podcast, during his time at Procter & Gamble, employees were placed inside Coles’ offices to work directly with their teams. This level of integration required a significant degree of trust, with both parties signing non-disclosure agreements (NDAs) to safeguard sensitive information.

Trust also plays a crucial role in ensuring both businesses align their goals. Without it, a JBP can quickly devolve into a power struggle, with each side more concerned about protecting their interests than working towards a common objective. Establishing clear terms and open communication from the start is important, as well as ensuring that both parties understand the value they’re contributing and receiving.

Trust is not built overnight in a joint business plan. It’s earned through consistent, transparent collaboration that shows both parties are committed to the partnership’s success.

8. Common Pitfalls and How to Avoid Them

While joint business planning offers immense potential for growth and long-term success, it also comes with challenges. If not managed carefully, JBPs can fall victim to several common pitfalls, such as loss of control, miscommunication, and an imbalance in the partnership. Luke Hawley discussed how difficult it can be for account managers or business leaders to relinquish control when entering a JBP. “You’re no longer the single point of contact,” he explained, “and that can be hard for people who are used to controlling the flow of information.”

One of the primary risks in JBP is the fear of giving up too much control. Businesses, particularly those used to traditional negotiations, may feel uncomfortable sharing resources or intellectual property. To mitigate this, setting clear boundaries and expectations early in the partnership is essential. By defining what is shared and ensuring that sensitive information is protected through legal agreements, like non-disclosure agreements (NDAs), companies can avoid unnecessary risks while still fostering collaboration.

Another potential pitfall is miscommunication. When multiple teams and departments are involved, there is always the chance that information can get lost or misinterpreted. To avoid this, Hawley suggested using the account manager or sales leader as a "quarterback" to facilitate discussions while ensuring that both sides stay aligned. This role helps ensure that each department understands the partnership's objectives and stays focused on the shared goals.

Additionally, an imbalance in resource sharing can create friction in the partnership. The partnership can suffer if one party feels they are contributing more than they receive. To avoid this, both sides must openly discuss their contributions and ensure that resources are distributed in a way that benefits both parties equally.

By being aware of these potential challenges and addressing them proactively, businesses can avoid the common pitfalls of joint business planning and create a sustainable, mutually beneficial partnership.

9. Actionable Steps for Implementing a Joint Business Plan

Implementing a joint business plan requires a thoughtful and structured approach. Businesses of all sizes can benefit from JBPs, but success depends on careful planning and a commitment to collaboration. Luke Hawley and Ben Wright shared several key strategies for getting started with JBP, focusing on how businesses can ensure they set the stage for a productive partnership.

The first step is to identify the right partner. It’s essential to find a business that shares similar goals and values. Both parties should bring complementary strengths to the table and be willing to invest time and resources into the partnership. As Hawley pointed out, JBP works best when both sides are committed to mutual success, which requires carefully vetting potential partners.

Once a partnership is established, the next step is to define shared goals and resource contributions. Rather than focusing purely on financial transactions, businesses should agree on long-term objectives that benefit both sides. For example, a joint business plan might aim to increase market share in a specific category or launch a co-branded product. Clear goals ensure both businesses are working towards the same outcomes.

Open communication is another critical step. To avoid miscommunication, it’s vital to establish regular touchpoints where both sides can discuss progress, challenges, and new opportunities. Whether through face-to-face meetings or virtual check-ins, maintaining strong lines of communication keeps the partnership aligned and responsive to changes.

Another critical step is to monitor progress and be open to feedback. Joint business planning is dynamic, and both businesses should remain flexible. Regularly assessing the partnership's results helps ensure it’s on track, and being open to feedback can strengthen the collaboration by addressing issues before they become roadblocks.

Finally, businesses should use data to drive continuous improvement. By leveraging shared data, both parties can make informed decisions about future initiatives. This data-driven approach ensures that the partnership remains grounded in measurable outcomes, providing both sides with insights into how they can continue to grow together.

Following these actionable steps, businesses can implement joint business plans that lead to long-term success and shared growth.

10. Closing Thoughts: The Future of Joint Business Planning

As businesses increasingly seek collaborative ways to grow, joint business planning (JBP) offers a clear path to success. For seasoned professionals, mastering JBP can unlock opportunities beyond traditional negotiation and transactional relationships. Luke Hawley and Ben Wright emphasised the transformative power of JBPs in the Stronger Sales Teams podcast, demonstrating how businesses of all sizes can benefit from partnerships rooted in shared goals and resources.

The future of JBP lies in its ability to foster more profound, more strategic relationships. Businesses can build partnerships that drive long-term innovation, growth, and profitability by moving beyond the short-term focus of securing deals. As Hawley pointed out, one of the most effective ways to accelerate growth is to look within your existing customer base: “Get on the phone and speak to your existing customers and just ask the question, ‘What else can I help you with?’” This mindset of continuous collaboration and problem-solving is at the core of successful JBPs.

Joint business planning is not just a strategy for large corporations; it’s an approach that can benefit businesses at every level. Whether you’re a small business seeking co-marketing opportunities or a larger organisation exploring shared resources, the principles of JBP can be adapted to suit your needs. As Hawley and Wright’s discussion highlighted, the key to success lies in building trust, maintaining open communication, and always looking for new ways to add value.

For professionals looking to turn partnerships into engines of growth, joint business planning offers a roadmap to achieve shared success.

Connect with Luke and Ben

• Follow Luke Hawley on LinkedIn
• Follow Ben Wright on LinkedIn
• Check out the Stonger Sales team podcast

Watch the Full Episode Here