"In reality, strategy is actually very straightforward. You pick a general direction and implement like hell." – Jack Welch, Former CEO of General Electric
January is when most partnership managers plan for the year ahead, setting goals for their alliances. In this article, I share simple tips that make my planning more effective. So, let’s get started!
How can I plan for success without knowing where I stand? The first step is to dive into the numbers and analyze past performance. At every company I’ve joined, I’ve started by exploring dashboards or building pivot tables in Excel to track key metrics.
When analyzing data from previous periods, I focus on metrics like the total number of partners, the number of active partners, and how many partners sell specific products. I also apply the 80/20 Rule to identify which partners drive 70-80% of the revenue. This helps me see the bigger picture: how the partner network performed over the year and where gaps or opportunities exist.
This analysis provides a clear direction for the year ahead. By understanding partner performance and identifying gaps, I can focus on the partners that matter most, take actions to support their growth, and ensure the entire network is set up for success.
In an organization, every department works toward the main goal, and Partnerships is no exception. Planning without knowing your company’s top priorities is like going on a trip without knowing where you're headed. The priorities act as the map, guiding my efforts and keeping my partnerships on track.
To plan effectively, I always start by understanding my company’s top priorities. Without this clarity, it’s hard to align partnerships with the bigger picture. That’s why I make sure to define these priorities at the beginning of the year.
Is it revenue? Innovation? Efficiency and scalability? Or perhaps all of them? Once I know them, I can better understand how partnerships can contribute and align my efforts accordingly.
To plan effectively, I need to know the resources available to me—these are the levers that will help me achieve my goals. In partnerships, these levers can be key relationships, internal teams, or market insights that I can use to my advantage.
For me, this means relying on strong relationships with strategic partners, collaborating with internal teams like product and marketing, and tapping into market data to guide decisions. By identifying and leveraging these resources, I can create a solid foundation for my partnership strategy and drive impactful results.
Effective planning plays a key role in the success of partnerships. Studies show that companies with written business plans grow 30% faster than those without (Burke, Fraser, & Greene, 2010). Additionally, businesses with a clear strategic plan are more likely to collaborate and take calculated risks. By aligning my efforts with my company’s top priorities and leveraging available resources, I can drive meaningful results in our partnerships.
Source: Burke, A., Fraser, S., & Greene, F. J. (2010). The Multiple Effects of Business Planning on New Venture Performance. Journal of Management Studies, 47(3), 447-478.