#AskPeshev 191: Partner Up!

#AskPeshev 191: Partner Up!

May 04, 2023

Are you hoping to grow your company and expand your product or service offerings? Creating productive partnerships with other businesses in your field is one strategy that might be helpful.But how do you identify suitable partners and foster alliances that result in success for both parties? This week's email delves into the world of strategic channel relationships, delivering tips and insights on everything from figuring out common values and goals to managing digital transformations to fostering creativity through teamwork.Join us as we explore the art of building partnerships and learn fresh approaches to expanding your company. 🚀 Mario My Take Strategic Channel Partnership: A Guide to Finding and Cultivating Successful CollaborationsChannel partnerships can be an effective strategy for businesses to cross-sell and upsell to the same target market as other vendors in their space. However, a partnership’s success largely depends on the alignment of the partners and the value proposition offered to customers. Before reaching out to potential partners, businesses must...Read more…

 Business Strategy 

  • DOW: 33,684 (-1.08%)

  • NASDAQ: 12,080 (-1.09%)

  • S&P: 4,119 (-1.16%)

*Economy numbers as of May 3rd close*

Starting a partnership can be a great way for business owners to expand their offerings, pool resources and take their operations to the next level. However, before jumping into a partnership, it's essential to carefully consider several factors that can significantly impact the success of the venture, like having shared goals, values, expectations and visions.Read more… Management 

  • DevOps/DevSecOps: 47%

  • Agile/Scrum: 37%

  • Kanban: 34%

  • Waterfall: 26%

* "Software Development methodologies practised worldwide in 2022" by Statista *

Marc Hale, CTO for AIA New Zealand, recently spoke with Cathy O’Sullivan, editor for CIO New Zealand, about navigating the complexities of digital transformation, and focusing on culture to enable healthier outcomes for customers. Multinational insurance and finance corporation AIA New Zealand’s dream is to help make the country one of the healthiest and best protected nations in the world. That’s no small undertaking, and as CTO for the company, it’s Marc Hale’s core responsibility to help achieve that goal by providing a secure and stable platform on which the business can operate and innovate.

 Recruitment 

  • 2023 Companies with layoffs: 637

  • 186,020 Employees were laid off in 2023

  • Q2 2023 Layoffs: 19,026

*  Statistic was taken from layoffs.fyi as of May 3rd  *New York Post: Behind US recruitment woes, Joe’s risky ‘alternative’ strategy and other commentary“ ‘Leave no one behind’ has been the American warrior’s ethos” — or was “until Joe Biden became commander-in-chief,” rails Hung Cao at The Spectator. Last year, “the Army missed its recruitment goals,” and the Navy barely met its own. With Biden’s “mistakes,” such as in Afghanistan, there’s “no wonder” why. When the remains of 11 US servicemen killed there by a suicide bomber were “paraded off a C-17,” he was “seen checking his watch.” His administration is “obsessed” with diversity, equity and inclusion, and the Pentagon ranks climate change and right-wing extremism among its top issues.Read more…

 Breaking News 🚨

  • A person believed to be the suspected shooter accused of killing 5 neighbors in Texas has been apprehended after a days-long manhunt.

  • Writer's Guild of America launches strike after negotiations fail

  • Treasury Department says U.S. could hit debt ceiling “as early as June 1,” earlier than previously expected.

 Marketing 

  • 44% of businesses seek alliances for innovation

  • 94% of tech executives view innovation partnerships as necessity

* Taken from BPI Network and Harvard Business Review research *

Writing a good partnership press release is not easy. So many releases use vague (or made up) terms, fail to identify what the partnership does, or worse, leave out the benefits to the industry or consumer. I found a great example of a well-done press release that I'm going to walk you through. 

 Sales 

  • Beyond Acquisitions: Boosterville, PeachWorks

  • Beyond Est. Annual Revenue: $5.0-25M

  • Estimated Employees: 500-1000

* Taken from Owler's Estimations on GetBeyond *

Get Beyond announced it would add a Channel Sales division to its sales structure, aimed at enhancing and expanding the company’s scope through partner channels. The addition of the division comes on the heels of the announcement of the new Board of Directors, pointing towards the company’s plans for expansion. The division will be led by Shawn Lally, SVP of Channel Sales, reporting to Mike Peters, President and CEO. He will lead with support from Michelle Walls, Business Development Executive, Channel Sales. 

 Featured Story of the Week 

Happy Tuesday and time for the monthly business tips deck! 📚 Here's what I'm preaching and refining in the month of May: 1. Recruitment - the deck covers the "agency bug" I spoke about for Entrepreneur Media last year and why it's still relevant. 🕴 2. Management coaching - adapting management teams to the reality of 2023, pivoting new fields, updating processes, and increasing NPS. (Bonus points: a checklist for the best management traits to aim for!)...