How well do you handle change? Do you struggle to find and retain committed, loyal and motivated team members to support your business growth and resilience?
What if the glue that holds your business together was gone tomorrow?
One of the most important assets in your business success and fulfilment is your team.
Did you know that a partner friendly culture will help you attract and retain the best talent, and maximise the probability of their loyalty, during and after their tenure with you?
Whether they’re internal staff or external suppliers, moving away from transactional relationships and treating all important connections as partners in your business, is the only way to create a resilient business – and in this day of constant and rapid change, that’s a critical success factor.
Who do you consider to be an important part of your team? Some of the key partners to the success and growth of Partner2GROW includes our:
Clients (especially our early adopters and full service members!)
Accountant, accounts team, and wealth management advisor
IT, website and systems support
Marketing, brand and positioning partners
Network (including prospective clients, partners and employees)
Honestly, without strong relationships in all of these areas, our business would not be on the path it’s on today – and I’d probably be a great deal more concerned about emerging competitors and disruptors (including often unpredictable economic conditions).
Through all the trials and tribulations of life and business, one thing has helped me land on my feet every time – and that’s the partners around me.
This blog was inspired by the departure this week of our much loved Assistant Business Manager, Marielle. It’s been a very big 3 years for us both on this journey together, and I have watched Marielle grow considerably – during the good times and the bad. Her dedication, loyalty and commitment to the business has been a big part of where we are today.
I believe it’s because of the partner friendly culture in our business, the encouragement of good intentions, win win outcomes, transparency and authenticity, that we were so in tune – and her departure while a loss in some ways, is an opportunity for us both, with minimal disruption to the achievement of our respective objectives.
You see, we’ve both felt for a little while that our journey together was coming to an end, and what impressed me is the mutual commitment to managing the impending change for mutual benefit. As I have always maintained, just because a relationship (in some form) ends, doesn’t mean it wasn’t successful.
I’ve always considered Marielle to be an important partner in the business, and did my best to empower her to own her role, contribute to the success of the business, enjoy the flexibility of working for an entrepreneurial business, and feel free to do what was needed to get the best outcomes (even if that meant managing up, or suggesting improvements to how we operate).
When you surround yourself with aligned relationships of mutual trust and respect, the uncertainty of business and life not only becomes less daunting, it becomes exciting.
So on that note, we are excited for Marielle and look forward to the next chapter.
52% of businesses on the Fortune 500 list in 2000 are gone (UpStart Business Journal June 4 2015). Nobody can afford to be complacent, arrogant, or go it alone.
Creative disruption presents enormous opportunities for businesses of all sizes, but those who choose to ignore it, are volunteering for a place on the extinction list.
In a world that is moving at such a rapid pace, how are businesses supposed to keep up? It can be utterly overwhelming.
What singular strategy can help a business achieve growth, resilience, and the ability to disrupt in a way that keeps it propelling forward, well into the future? (hint: it’s not a Facebook ad :-P).
A business can future proof itself in good times and bad, through the right strategic partnerships.
It’s an exciting time in business. ‘SMEs and startups are particularly celebrated among global executives; 85 percent of business leaders want to collaborate more with SMEs. Those who do make this leap appear to be reaping the rewards.‘ says the GE Global Innovation Barometer 2014.
‘Two-thirds of the companies that collaborate on innovation activities, report that their associated revenue and profits have grown over the past year.‘ Those who are truly prepared and proactive in a collaborative world, are without a doubt ahead of the game.
And this is not just the domain of audacious start ups and impressive big business in the thrusts of innovation. Partnerships are for everyone, at any stage or size. Even simple marketing partnerships can have an enormous impact to the success of a business – helping them get ahead without the intense stress, pressure, and overwhelm of trying to keep up with the myriad of demands in a business.
How do I know? Because at Partner2GROW, we do it every day. I’ve been monitoring global collaboration trending for over 12 years. Partnerships and collaboration is all we do. It’s the only way we grow our own business, and that of our clients. With good reason.
At every speaking engagement and event I run, I now ask the audience to tell me about any marketing activities with which they are having great success (because I really want to know!). I’ve noticed a trend. After a painful silence, one, maybe two people raise their hand and describe something that worked for them – and it’s ALWAYS a marketing partnership of some description. Many business owners do it by accident.
Traditional marketing quite simply, doesn’t work as a strategy. Many self proclaimed guru’s and experts teaching marketing tactic and fads, positioned as the latest magic pill solution, are having little success with it themselves – and it has no longevity, because it’s too easily replicated until the market is again saturated.
So if you want sustainable results, long term growth (as well as much needed quick wins), why not leverage the assets of an aligned partner who truly engages with your vision, and believes in the value your product/service can offer their customers?
You can learn so much about what really works when it comes to marketing to your ideal customer, without having to wade through the trial and error of the latest miracle solution. In fact, when you shift your mindset from transactional relationships to true collaborative thinking, you’ll never have to sell again to create more revenue and abundance in your business.
Strategic partnerships are the most efficient way to:
Copyright @ 2015 PartnerUp Pty Ltd
So ask yourself, who could you be forming lucrative strategic and marketing partnerships with right now?
Customers (especially your early adopters);
Businesses you patron;
Complimentary businesses, serving your ideal target market already in your network.
Here’s what I have observed and respected about businesses and people that are genuinely successful (success means so much more to me than money).
don’t look for magic pill solutions – they research and commit to real solutions;
act strategically not tactically;
collaborate, they don’t compete;
create, not copy;
surround themselves with trusted advisors;
know when to invest, and when to bootstrap;
are proactive, not reactive;
don’t compromise their integrity no matter what;
remain authentic and discrete – in good times and bad;
are strategically generous (always looking for the win win);
trust themselves; and
have the courage to disrupt, so they lead, not follow.
Committing to the right partnerships means you never have to engage in the sales process again, because every interaction is quickly assessed based on it’s win win potential. Even with your partners – a collaborative mindset, framework, and strategy, means you don’t sell. You create value and revenue together.
I believe so deeply in the power of the right strategic partnerships for businesses of all stages and sizes, that I have dedicated my career to helping businesses ‘do better together’. The right partners are a pipeline for innovation, and help each other stay ahead of the game by leveraging each other’s strengths, and sharing resources.
Partner2GROW has been structured to help you achieve your objectives within your budget. Click here to find out more about us and the clients we are helping.
If you believe you’re ready to commit to strategic partnerships in your business, you may want to join us for our last confirmed, public PartnerUP Intensive workshop for 2015. Please click here to get in touch with us immediately, to find out if it’s right for you, as it’s just a few weeks away and places are very limited.
In this episode Simone Novello from Partner2Grow talks about creating successful partnerships. Simone shares her insights into the different types of partnerships we can consider, as well as her 6 steps to partnership marketing success.
Simone Novello is the Managing Director of Partner2Grow, an ex-corporate entrepreneur and keynote speaker. She is considered to be one of Australia’s foremost Partnership Marketing Experts, and has been recognised with many awards during her nearly two decades in the industry.
Simone has worked both agency and client side in the field, and has had responsibility spanning across the Asia Pacific region. She has formed alliances worth hundreds of millions of dollars with leading brands including American Express, ANZ, Commonwealth Bank, Virgin Australia, Sydney University Union and Myer to name a few.
Having driven results that brought clients, management and shareholders a robust return on investment from the application of partnership marketing strategies, Simone was determined to take her expertise and passion to the next level. With a desire to leverage her inside knowledge to friends and colleagues who were business owners, entrepreneurs and consultants, Simone developed the ‘6 Steps to Partnership Marketing Success’ model, which forms the foundation of her business and the products and services she offers.
The different types of partnership options available for businesses.
The benefits of a marketing partnership and why it can be more effective than traditional marketing.
What a strategic partnership is and when it is best used.
Why approaching businesses for marketing or strategic partnerships (where the business is able to leverage their assets rather than part with money) rather than approaching them for a financial sponsorship can increase your chances of success.
When it might be appropriate to consider a joint venture partnership.
Considerations around legal agreements for partnerships.
What makes a successful partnership.
Tips for creating win/win/win partnerships.
Signs that a partnership might not be working.
The 6 steps to partnership marketing success.
How to get partner ready.
How to make your business more attractive to the right prospective partners.
How to prospect for partners.
Tips for defining your offering.
Tips for approaching the right potential partners in the right way to maximise the profitability of your business.
How to both leverage and protect your partnership to increase the likelihood of ongoing success.
Tips for creating partnerships with businesses that are bigger than yours.
In 2014, GE reported that 77% of executives around the world believe collaboration is the key to success (this figure doubled in the previous year).
In fact, 64% are already engaged in collaborative activities.
Are you missing out?
We believe, and this is supported by strong global trending, that companies without a sound partnership strategy are at a significant disadvantage. But don’t just take our word for it.
Think you’re too small?
1 in 3 SME Turn to Partnership Marketing For New Customers (Crowe Horwath/SmartCompany Directions survey November 2013)
One of greatest causes of stress and failure among entrepreneurs, start ups and SME businesses, is cash-flow. Many struggle to access the resources they need to scale, despite their expertise and the value in their product and/or service offering.
Partnership marketing is now the number 1 growth strategy of SME’s, BUT it’s estimated only 3% are doing it. Why? Because they don’t know how. They either lack the confidence to get started, or they find out too late that they got it wrong.
“We are witnessing the rise of the global brain – where experts from outside are brought in. 59% of businesses already use open source innovation, involvingpartners such as entrepreneurs, to develop new ideas.” (GE Global Innovation Barometer 2014)
Nobody, including larger companies, can afford to be complacent these days, as we don’t know what disruptive business is just around the corner, given the speed of change and innovation.
While 81% of alliances realise at least partial achievement of their alliance objectives (41% fully achieve), alliances often fail (fully or partially) in over 55% of cases due to poor execution, and/or the company not having a partner friendly culture, but rather relying on one partner manager. (New Alliance Management Study By Stuart Kliman and Stuart Price )
And if you’re not statistic fatigued yet, in a recent executive survey by Frost & Sullivan “CEOs cited strategic partnerships as their number one growth strategy. Big companies today are making strategic partnerships a centrepiece of corporate strategy, committing more than 20 percent of their assets to developing and managing partnerships.
“However, small to medium-size business have traditionally been at a disadvantage as they do not have the domain expertise, business networks or management bandwidth, to support the arduous and time-consuming process of identifying, cultivating and making the right partner connections — regardless of whether this is for revenue gain, new market access, product line extension, geographic expansion, customer access, domain knowledge, IP licensing, or capital sourcing.”
I couldn’t have said it better myself.
Our proven success formula is based on my 18+ years experience, generating partnerships worth hundreds of millions of dollars for the likes of Commonwealth Bank, Virgin, American Express, Darrell Lea, plus hundreds of SME business owners (including micro businesses like me who simply want to work smarter!).
Partner2GROW is not a coaching or training business. We are your strategic partner, offering a range of optimised solutions to help businesses of varying stages and sizes, successfully connect with lucrative partners so they can achieve their growth and profitability objectives – within their budget.
If you believe partnerships can help you achieve your objectives and you would like to find out if your business is partner ready, APPLY NOW for a 1 on 1 consultation. Applications close Monday, 22nd June 2015 or until places are filled. All applicants will receive a personalised recommendation (only successful applicants will receive a 1 on 1 consultation).
Are you sick of coffee dates that go nowhere? Endless requests to ‘pick your brain’ or provide giveaways with little in it for you? Or endless networking events that give you little to no concrete or fast return on investment?
What if you could grow your business faster, with less stress, using the same (or less) resources, by accessing money can’t buy marketing and databases full of your ideal customer (ready to buy from you) often for free? How would that change things? Imagine if every marketing campaign you did delivered $10, $20, $30 or more per $1 you invest.
Well you can. It’s called partnership marketing.
Some call it JV’s or joint ventures, others strategic alliances. It simply means joining forces with an aligned partner, who has complementary products or services, to access more resources and provide a more compelling offering to your shared ideal customer – so you all win. You, your partner and both your audiences or shared customers.
One of the most powerful ways to identify and connect with your ideal marketing partners is via LinkedIn. It’s actually the number one reason you need to be on LinkedIn and you need to leverage it well.
LinkedIn enables you to reconnect with existing contacts, search for more ideal connections, build your personal brand, and showcase your assets – all in a strategic, professional and compelling way. If you know how!
To gain further insight into the power of partnership I recently caught up with Simone Novello, founder of of Partner2GROW.
Simone is considered to be Australia’s foremost authority in partnership marketing, and no wonder, having formed alliances worth hundreds of millions of dollars from Virgin Australia and the Commonwealth Bank through to growing her current business by over 260% solely through the power of partnerships.
“Look at the core of any fast growth company and chances are you’ll find a well executed and considered partnership strategy. Think IBM, Microsoft, Spotify and even Facebook, to name a few.
It’s extremely exciting to see our clients transform their business from frustrating slow growth and cash-flow anxiety through ‘pay and pray’ marketing, to fun, fulfilling and thriving businesses with common returns of 25 to 1 through simple marketing partnerships.” says Simone.
Now what if I said you could start building these powerful relationships without leaving your desk? Like me, Simone is a huge fan of the using LinkedIn to find and connect with ideal partners.
Chances are, if you’re in an industry you love, or you’ve been in it a while, you’ll have connections you could be better leveraging right now. Or you could be better leveraging the connections of your existing network. This is where LinkedIn is extremely powerful when it comes to building assets, attracting and connecting with the ideal marketing partners.
Use LinkedIn to find the right partners, and you’ll be at a significant advantage when it comes to building a top performing business that effectively locks out your competitors.
Where else can you access 347 million professionals and filter them down to your ideal partner profile (once you’ve identified it) using LinkedIn’s advanced search features!
Start connecting with them with a genuine win win attitude using a proven system and you’re setting yourself up to be a top performing business (very few businesses have mastered LinkedIn AND partnerships so it’s a formidable combination).
Below Simone shares her 6 steps to partnership marketing success and how you too can start using this process to sky rocket your sales:
1. Get Partner Ready – be clear on your objective, target market, and how much growth you can handle or risk at best, wasting time, and at worst, sending yourself broke by landing a partnership you can’t support! Be careful what you wish for. With great power comes great responsibility.
2. Identify Your Assets – uncover all the amazing assets in your business that a partner would love to access and leverage for the benefit of their audiences. Don’t forget your personal as well as your business assets. For example, use LinkedIn to position yourself as a thought leader in your industry. Ensure your profile is polished. What first impression will you give a prospective partner? Are you putting your best foot forward?
3. Get Partner Prospecting – the right partner wants you as much as you want them. Think about your customer journey – who does your customer encounter when they need or are looking for you? Who do you already know? Go for your low hanging fruit first to get quick results. Reconnect or connect with them on LinkedIn – make it personal and make it relevant.
4. Make An Offer Your Partner Can’t Refuse – How? In the simplest and fastest way simply seek to add value. Only if you’re unprepared and nervous will you end up giving away more than you want or need to without getting the return you’re after. Metaphorically speaking, start with the coffee before you go out to dinner.
5. Seal The Deal – Understand your partner by doing your research and asking the right questions – they’ll tell you what they want and you’ll know what you can offer to meet that need if you’ve done the right preparation.
6. Build On Your Success – Simone sees so many great partnerships that fail due to neglect. When you’ve landed a great partner it’s important to build on the wins in the relationship and maintain strong relationships that are immune from the pull of competitors.
If you want more details and free resources to help you catapult your sales through marketing partnerships so you can really start activating the full power of LinkedIn, Click Hereto download your free 6 steps to partnership marketing success.