10 Points for Corporate Partnering Readiness

Can any company at any stage successfully secure and sell through corporate partners?

With the right commitment from both sides, the partnership can of course produce revenue, but will it be profitable given the amount of time and energy needed to produce the results?

A successful profitable partnership needs to be based on a reasonably compelling offer for both parties. When you seek partners you should be ready, somewhat.

An ideal scenario is outlined by the 10 points
1. You have a product that is proven with strong referenceable customers
2. You have defined marketing and sales process that works in your existing markets
3. You have good marketing and sales materials, including website that really supports the sales process
4. You are operating in a proven business space with growing market opportunities
5. You have a clear Value Proposition and Competitive Advantage that wins customers
6. You’re business success is not dependent on a small number of people
7. You have defined charging model across consulting, product, options, implementation and annual maintenance
8. You have a product and services development roadmap responding to or leading market requirements
9. You have defined clear responsibilities and revenue splits for a real mutual beneficial relationship with a partners
10. You are committed to a Corporate Partnering approach to the market and are realistic in your expectations

So how does your company score in meeting these requirements?

If you score high in all these, in full spirit, then you’re likely ready and a Hearty Congratulations, as these 10 points are a big achievement for any company.

The good news is that you don’t need to have all 10 fully defined and proven to be successful. This is more like a weighted scoring system rather than one requiring a full score in each. Like everything else, being very strong in some areas can make up for being weak in others.

I know early stage companies who have a very compelling offering easy to explain with experienced management, they are likely very ready to partner.

I know established companies who have a very complex offering and where it is difficult to explain and this more difficult to sell. More difficult to sell means much more difficult to get a partner to sell successfully.

Remember, partnering into a market should be taken as seriously as establishing an in-market office, just much more cost effective.