This document discusses key partners and how to leverage partnerships effectively. It notes that partners can help with faster time to market, broader product offerings, more efficient use of capital, unique customer knowledge or expertise, and access to new markets. There are two types of partner ecosystems: coordinated partnerships focused on efficiency and transactional relationships, and collaborative partnerships focused on expertise, innovation and market development through relationship-building. The document provides examples like Boeing, mobile apps, and Groupon and their partnership models. It outlines risks of partnering like misaligned goals and notes the best partners are customers, suppliers, and channels that have incentives aligned with your success. It recommends starting partnerships slowly, being a good partner, focusing on ownership, flexibility, and
4. Why have partners? Faster time to market Broader product offering More efficient use of capital Unique customer knowledge or expertise Access to new markets 3 ü ü ü ü ü
5. What defines a “Partner?” Shared economics Mutual success / failure Co-development/invention Common customer 4
12. Managing partners is difficult and has risks Impendence mismatch – “ants mating with elephants” Longest element of partners schedule becomes your longest item No clear ownership of customer Products lack vision – shared product design Different underlying objectives in relationship Churn in partners strategy or personnel IP issues Difficult to unwind or end 11
13. Who makes the “best” partners? (all of the same entities that we have been talking about in this class!) Customers: Get them invested in your success beyond separating them from money Suppliers: Unique products for you, financing terms, time to market The Channel: Do they really win when you do? Are you accelerating their growth? Can they help you define the best product? Rethink these relationships – get as many other people and organizations invested in your success and you in theirs! 12
14. Strategies for Successful partnering Start slowly – gain expertise and ability to evaluate partners Be a good partner (very few companies are!) Focus on ownership – who owns success in your organization? Be flexible – when you get to “contract enforcement” it is the beginning of the end Constantly re-evaluate – declare failure and move on before it is too late 13