How to express credibility, the Tesla+Toyota partnership and why stories sell
IN PARTNERSHIP WITH BE IN MOTION
Welcome to Partnership Wednesday! Here are 3 ideas from me and 1 question for you to consider this week to create partnerships you never thought possible!
3 IDEAS FROM ME
I.
In 2010, Toyota invested $50 million in Tesla, shortly after Tesla went public. It was a significant investment at the time which enhanced Tesla’s credibility and reputation. This partnership aimed to merge Tesla’s expertise in electric vehicle (EV) innovation with Toyota’s mass-production efficiency and global reach. While the partnership delivered the RAV4 EV, based on Tesla’s battery technology, it didn’t last long. By 2014, Toyota ended its investment in Tesla and sold its shares for a reported $738 million profit. Tesla went on to focus on scaling its manufacturing and its impacts on Toyota’s EV are still present today.
Key Lesson: Mutual benefit isn’t always long-term, and it doesn’t need to be.
II.
No business grows to its full potential alone. The right partnerships unlock opportunities you didn’t even know existed by opening doors to new audiences, reducing costs and risks and strengthening your position in the market.
III.
You're seeking a partnership with a company who doubts your industry experience. How can you build credibility? I was asked this question from the crowd this week. Here’s my answer:
Credibility isn’t about your resume, it’s about the value you bring and add to a relationship. When pitching a new partner focus on three pillars of value:
Results over credentials: Highlight the outcomes you’ve delivered in other contexts. Numbers speak louder than years in an industry.
Deep listening: Understand your partner’s goals better than anyone. When you show you "get it," experience takes a back seat.
Leverage your network: Ask mutual connections to vouch for your skills. Third-party endorsements often carry more weight than self-promotion.
I've seen early-stage leaders secure game-changing partnerships by leaning on this approach. The best partnerships don’t care where you’ve been—they care about where you can take them.
1 QUESTION FOR YOU
What is the one metric you share to highlight your credibility to a new partner?
PARTNERSHIP+ MOMENT
You can listen or watch full episodes of Partnership+ on your next commute or workout. Here’s a short moment that will give you a shot of partnership goodness. Subscribe to Partnership+ on Apple Podcasts, Spotify and Youtube!
Tap the tile to watch!
KNOW PEOPLE WHO NEED THIS?
Want to share this issue of Partnership via text, social media or email? Just copy and paste this link:
https://philhsc.com/partnership/11-december-2024
Until next Wednesday,
Phil Hayes-St Clair - Partnership Expert & Coach, Host of the Partnership+ Podcast
IN PARTNERSHIP WITH BE IN MOTION
Be In Motion is the everyday progress company. Their active headwear range of trucker caps, visors, and beanies is designed to keep you moving wherever life takes you. Whether you're conquering a hill, a meeting, or simply showing up for yourself, our headwear is built for the journey. $2 from every purchase supports Orygen in their mission to improve youth mental health. Plus, with every order, you'll receive a Be In Motion Magic Card—a spark of encouragement to inspire your next step.
Explore more at beinmotionproject.com and get your Be In Motion bundle today!
Don't know where to start with partnerships?
The Wednesday Partnership Newsletter includes 3 ideas and 1 question for you to create business partnerships that you never thought possible.
The latest issue is sent to leaders in Fortune 500 companies, entrepreneurs, educators and small business owners. Join them by entering your email and signing up for free right now.
