February 03, 2021

Mark Brigman: The 5 Phases of Successful Partnering

49 minutes

Mark Brigman is the founder of the company and author of book Partnernomics. After a career leading partnerships with Sprint, Mark studied the economics of partnering, wrote a book, and took the leap to launch a company focused on helping others drive successful partnerships. In this episode, he shares the five phases of a successful partnering process.

KEY TAKEAWAYS

Successful partnering starts with a playbook. Here are the five key elements that Mark has learned drives repeatable success:

Partnering Strategy – create a living strategic plan to drive internal alignment from the CEO down to the field on what, how, and over what time frame you are going to achieve through partnering

Engage Partner Candidates – identify your high value candidates, understand their business model, position your value proposition, then objectively score and rank them against each other to maximize your probability of building a long term successful partnership

Negotiate the Partner Agreement – start with a business term sheet that lays out how you are going to work together. Make sure you have total alignment before getting legal involved and before you sign the agreement!

Close the Agreement – make a go or no go decision based on alignment and strategic fit with the partner

Operationalize the Partnership – proactively manage to success leveraging the Strategic Partner Leadership Model