In the genesis of an enterprise, the enterprise builder must rely on partners, especially if they are the only person working on their idea. Partners are indispensable service providers, product vendors, and contractors without which there is no business. They are not to be confused with resources which tend to be internal labor, contractors, or vendors.
Key partners are those that are absolutely essential to the complete business model. Here are a few examples:
- Kindle publishers and authors need Amazon
- Amazon book sellers need Amazon
- iPhone/iPad developers need Apple
- iTunes musicians need Apple
- Advertising agencies need television networks
- Television networks need television show producers
- Hosting companies need telecommunications companies
- Web design companies need web development companies
- McDonalds needs CocaCola
- Our clients need Anant
Key partners in a business model can make or break the company. Partners can be instrumental in both the production / provisioning, the sale, and distribution.
Finding good partners is difficult. What do they have that no one else has? Are they successful? Are you adding any value to their offering? Will the engagement benefit both parties? Generally speaking it’s best to bring substantial value to the table (monetary or otherwise) when seeking out new key partnerships.
Question of the Day
What key partnerships can you take a moment to express gratitude for today?
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