Part 20: Perseverance is key

Hello everyone and welcome back to the 20th issue of the Partnership Pocketbook! Today’s topic is about perseverance - after writing 20 issues of this newsletter, perseverance with this and almost anything you are passionate about is a huge challenge but so rewarding!

It’s been an interesting few weeks for me.  After being laid off I thought I was going to take a few weeks to relax before jumping head first into a job search.

That didn't turn out to be the case.

I have taken on a couple of advisory positions with two companies:

1. Sendspark                                                         2. TestBox

You should check both out, really cool companies that are going to do really big things!

It's really interesting to have some time to look at things through a different lens, and candidly there is SO much opportunity outside of full time employment.

For anyone reading this that might have been laid off or is looking for a new role, keep your head up, think about what you REALLY want to be doing next and know that there is a whole community to support you.

Pursuing work you are passionate about will make perseverance much easier.

One of the best conversations I had this week was with Adam Pasch, Head of Partnerships at Improvado.

He is currently building out his partnership program and we talked about which metrics and goals a new partnership program should be pushing for.

I am a firm believer in the ability to show momentum in an early program.

If you can start off with a strategy and get some revenue coming in regardless of the figure. It will unlock more budget and increase confidence from senior leadership to help build and scale the program.

Planning and strategy is needed to give direction to a program, but the real driver that is going to impress and have things going in the right direction is money in the bank.

Get a few quick wins, and things become much easier.

This week's partnership in the wild comes from the World Cup.

If you are anything like me, you have been glued to the screen enjoying this year's World Cup.

One of the biggest stories from a partnership perspective, centered around the last minute decision to prevent the sale of alcohol in stadiums.

Budweiser tweeted "Well, this is awkward" but quickly deleted it.

That was obviously a huge wrench in the partnership FIFA have with Budweiser, as it prevents them from getting their brand in front of fans.

Almost seems like a failed partnership.

However, Budweiser persevered and pivoted by creating a mass promotional campaign where they will now be sending the excess beer they had planned to sell during the World Cup to the winning country.

Love the ingenuity to turn a big partnership problem into something which is going to be a net positive for Budweiser.

Let's dive into today's topic.

This one is going to be another soft skill which is absolutely critical when it comes to partnerships, perseverance.

It's no secret that partners require some TLC.

Constant TLC.

In my opinion, the best way to activate partners is to be top of mind.  Always.

The likelihood is, if they are partnering with you, they also have other partners, which means a ton of different people wanting their attention.

It can get disheartening if you are putting in effort and not seeing results.

In some cases it can be demoralizing if you aren't seeing the love back.

Perseverance is critical to keeping spirits high.

So, what are some ways you can cultivate perseverance?

Here are a few tips that I have found help me, and can hopefully help you also.

1. Break Macro goals into Micro Goals
   

If you have a massive goal to it, such as a revenue goal from a specific partner, try and map these big macro goals into a number of manageable micro goals to hit.

For example as a partner manager you may have been tasked with a $1m revenue goal which you need to extract from a particular partner, which on the face of it is a huge task.

But let's look at this same large goal when separated out into a list of bitesize goals.

✅ You are going to run an enablement session with the partners sales team
✅ You are going to run a joint webinar
✅You are going to create a battle card for this partner for internal education
✅You are going to get the partner into your PRM for additional training

The micro goals listed above are actions that will help with the overall revenue goal, but they are now more manageable and realistic from a delivery perspective.

2. Test and iterate

If what you are doing isn’t working, try something new.

Perseverance should not be mistaken for blind stubbornness.

If those micro goals aren't working, you need to test different tactics to really see if you can drive action.

The additional tip here is that you’ll need to iterate as you go, so any new tactics you do need to be quantifiable and measurable.

With your results, you can compare and track what actually is working.

A key part of perseverance is placing your bets based on evidence and seeing them through to completion.

3. Stay optimistic

Easy to say, but hard to do.

It can be a long process to fully activate a partner.

Some partnerships can take up to a year to get up to speed. It’s essential that you celebrate your small wins.

First deal from a partner?  Celebrate it!

Managed to get an executive or another internal champion at your partner organization? That's a big moment worth enjoying!

The ability to celebrate small victories will help you find worth in your work, amp up your team, and ultimately maintain a positive mindset which is pivotal when dealing with the long process of partnerships.

So that's it - a little of a softer skill to develop as a partnerships pro, but one that is going to help you immensely during some of the tough times you are sure to experience.

Persevere and prosper!

Until next week,

Cheers,

Ben