Quarter In, Dollar Out

Who wouldn’t want a money machine? Fantasies of turning lead and straw into gold exist for a reason. All of us would love to find a smarter way to get after it. Partnerships can be an amazing way to achieve growth and scale. 

At 3Seven, we LOVE alliances, and we hope you can print money through them. Here are some considerations as you contemplate your path forward:

1)      It Takes Investment: Successful partnerships have a thoughtful approach to people, process, and systems that lead to amplified results.  Don’t be fooled into thinking you can assign alliance management as a night job and see an impact.  Mature partners invest well.  Success is putting a quarter in and get a dollar out. 

2)      It Takes Expertise: Misjudging your investment can be devastating.  Business development is both an art and a science.  Hiring the right team will ensure you maximize each engagement and make the right investments. 

3)      It Takes Differentiation: Everyone is busy.  A lot of teams can choose who they work with.  This is particularly true for individual teams when you’re in partnership with a large organization.  You should assume that every person you meet will be asking “what’s in it for me”?  Have an answer. 

4)      It Takes Commitment:  How much additional revenue will you see at the end of year 1?  Measuring the intersection between the two companies can be difficult.  Start by setting a three-year goal with what you can contribute to your partner’s business.  Discussing your joint commitment will be the best path forward to understand what level of support you can expect in return.

5)      Plan: Have a plan and work it.  When a partnership is aligned around significant numbers kinetic energy builds around it.  Clarity on your profitability model will ensure that every person in your organization will know the role they play and how to execute it.

Success is out there, let’s make it happen together!