Managing partners who over-promise and under-deliver, the risk of rushing & how to reframe value
In partnership with FIVERR
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.
Rushing into a partnership deal conceals valuable opportunities. When speed becomes the priority, the risk of missing the nuances and potential growth avenues that only emerge through careful listening gets missed. Preference uncovering two ways of creating value as a partnership over pitching your product or service.
II.
It’s a mistake to assume that partners understand the depth of your capability. At best that have tried to understand your business from your website and at worst they have taken someone else’s word for what you do. There is value in consistently reminding partners of your capabilities to help them reframe how value can be created together.
III.
How do you navigate unmet expectations and frustration when dealing with partners who overpromise results? I was this asked this question from the crowd this week. Here’s my answer:
There are two steps to manage partners who over-promise results. First, clearly set the expectation that results or outcomes-based delivery is a pre-requisite to partnership survival and growth.
Second, and this is the step that is often missed. Create and agree results or outcomes-based scenarios with each partner. Typically, partners provide a timeline for results or outcomes without communicating the factors that might influence delivery. Investing time to understand what outcomes would be delivered in a worse-case scenario versus what would be delivered in an expected or even best-base scenario helps uncover more about their organisation functions. This helps frame how you might reset or potentially bring the partnership to an end.
1 QUESTION FOR YOU
What's stopping you from reaching out to a potential brand partner?
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Until next week,
Phil Hayes-St Clair - Partnership Expert
Partnership+ Podcast
Here is the full episode featuring former Special Air Service officer Mark Wales. In the episode of Partnership+ Mark shares his life as special forces operator, father, author and reality television star. We also talk about the partnerships that have changed his life. Tap the tile below to watch our interview.
To get the full learning experience, subscribe to Partnership+ on Apple Podcasts, Spotify and Youtube!
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