Business Plan Partnership

Each party must collaborate to create a business plan.At set time intervals, make sure this strategy remains relevant and in line with the endgame.

Each party must collaborate to create a business plan.At set time intervals, make sure this strategy remains relevant and in line with the endgame.

Business partners often start businesses together with little planning and few ground rules.Related: The Two Biggest Money Problems That Can Ruin a Business Partnership Here are 10 guidelines that all successful alliances that drive meaningful revenue must meet over the course of the collaboration.Define a strategic mutual vision of success for the parties involved.Next, the engagement must be repeatable and able to be rolled out across sales forces.Finally, an opportunity to increase revenue must be present. If the above requirements are met, then the partnership can begin to develop.Each party involved will need to determine who gets rewarded and how they get compensated. Although it does take time, a truly great partnership is worth the effort.From field representatives to managers, make sure the sales teams are on the same page. Remember, you are partnering for a reason, together you are better than alone.The partnership creates a joint-value proposition unique to customers, and it needs to be conveyed through marketing content and leads.The sales teams -- whether direct, channel, agents or other -- of all partnered companies must be well-versed on the collaboration with a consistent message. You can opt for weekly meetings or calls with partner managers, quarterly meetings with vice presidents and so on.Of course the extent and kind of details depend on the type of partnership (e.g.joint marketing, product development, reseller, referral, etc.).