Top 10 Must-Read Books on Building Successful Partnerships
In recent years, there's been a surge in the adoption of strategic technology partnerships. The speed of technological change makes it difficult for companies to keep up on their own. Partnering with specialists can help them stay ahead of the curve. Building partner ecosystems has become an essential channel for driving revenue for a lot of technology companies.
Whether you're seeking to expand market reach, accelerate growth, or innovate, the right partnerships can provide a significant competitive edge. However, building and maintaining successful partnerships is a complex endeavour. It requires a deep understanding of partner dynamics, and a strategic approach to setting up and measuring KPIs of your partner program.
To help you navigate this terrain, we've curated a list of 10 essential reads that offer invaluable insights and practical guidance for partner professionals. From exploring the psychology of partnerships to mastering negotiation tactics, these books will equip you with the tools to forge lasting alliances that drive mutual benefit and propel your business forward.
1. “The Partnership Economy” How Modern Businesses Find New Customers, Grow Revenue, and Deliver Exceptional Experiences (2022) David A. Yovanno
Overview
Forget what you thought you knew about partnerships! The business landscape has shifted, and partnerships offer explosive growth potential. In "The Partnership Economy", David A. Yovanno, CEO of impact.com, equips you with a practical roadmap to navigate this new era. Learn from real-world success stories of companies like Fabletics, Target, and Walmart to unlock the power of modern partnerships. This book goes beyond brand awareness and loyalty. Yovanno reveals how strategic partnerships, encompassing influencers, content publishers, business integrations, and rewards programs, can work together to propel your revenue.
Here's what you'll discover:
- Why leading companies invest heavily in partnerships, driving up to one-third or more of their revenue.
- Understand how different types of partnerships - influencer marketing, content marketing, affiliate programs, and more - can significantly impact your business.
The author provides a step-by-step plan to launch your partnership strategy and how to diversify and grow your program for maximum impact. Whether you're a founder, executive, manager, or anyone focused on revenue growth, "The Partnership Economy" is your essential guide. It equips you with the knowledge and tools to unlock your organisation's full potential.
2. "Building Successful Partner Channels: In the Software Industry" (2015) by Hans Peter Bech
Overview
The book emphasises that the choice between direct and indirect go-to-market approaches isn't arbitrary. It depends heavily on the specific nature of your business model and its operating environment. The book highlights that an indirect channel is most effective when it aligns seamlessly with your product offering and value proposition. To achieve global market leadership through indirect channels, businesses must develop and maintain a robust channel partner program. The book outlines the key components of such a program, including the essential channel partner P&L model. It emphasises that the partner program will evolve significantly as the business transitions from early-stage channel development to a mature stage, where most revenue is generated by existing partners.
The book explores the process of recruiting channel partners, noting that it shares similarities with hiring top-performing salespeople. However, unlike employees who are immediately compensated for their work, channel partners often need to make substantial investments before reaping the rewards of the partnership. The author recommends a strategy of recruiting a large pool of potential partners and then allowing them to demonstrate their capabilities. This approach enables businesses to classify partners based on their performance and tailor management strategies accordingly.
3. “The Book on Partnerships: How Startups Work With Partners To Sell More, Add Features, And Get Acquired” (2024) by Franz-Josef Schrepf
Overview
The Book on Partnerships is a practical guide that demystifies the world of partnerships and explains how they can give your startup a competitive edge. Drawing from extensive research and real-world examples, this book offers a clear and unbiased approach to partnerships. It's not a sales pitch for software or a costly course. Whether you're a founder, an entrepreneurial team member, or simply curious about partnerships, this book will equip you with the knowledge to:
- Develop a winning partnership strategy
- Identify ideal partners
- Boost sales
- Expand into global markets
- Navigate channel conflicts
- Forge strategic alliances with industry leaders
- Position your startup for acquisition
4. “Business Partnership Essentials: A Step-by-Step Action Plan for Succeeding in Business With a Partner” (2017) Dorene Lehavi
Overview
Business partnerships are a cornerstone of the US economy, yet their failure rate is alarmingly high, with 70% of them not reaching their full potential. Dr. Lehavi is at the forefront of efforts to address this issue. As a business partnership relationship coach, she deeply understands the profound impact that these partnerships have on cofounders, employees, customers, families, local communities, and even global markets. Business Partnership Essentials guides you through every stage of the partnership journey, from selecting the right partner and navigating daily operations to planning for exits and unexpected challenges. This book isn't about the financial aspects of starting a business, but rather focuses on establishing a strong foundation for your relationship with your business partner. By following Lehavi's guidance, you'll take proactive steps to increase your partnership's chances of success.
5. “The Art of Strategic Partnering: Dancing with Elephants” (2018) by Mark Sochan
Overview
The Art of Strategic Partnering is a practical guide that teaches you how to build and maintain successful strategic partnerships. Designed for entrepreneurial leaders and executives, this book reveals strategies for company growth and achieving groundbreaking results. Benefit from the insights of a seasoned Silicon Valley industry expert with over 150 successful strategic partnerships under their belt. The author shares captivating anecdotes from his business career, highlighting his extensive experience in strategic partnerships across various stages of company development. His impressive track record makes him uniquely qualified to write a guide on this subject. While the examples primarily focus on the tech sector, the insights are presented in a clear and relatable way, making them applicable to a wide range of industries.
6. “Sales and Marketing Channels: How to Build and Manage Distribution Strategy” (2018) by Julian Dent and Michael White
Overview
The landscape of business has undergone a seismic shift, with traditional routes to market disrupted by digital innovation and changing consumer behaviours. Products are evolving into services, online and offline channels are converging, and new distribution models are reshaping the industry. In light of these unprecedented upheavals, the third edition of Distribution Channels is reimagined as Sales and Marketing Channels, placing market access at the core of business and marketing strategy. This global bestseller offers a practical framework for analysing, planning, and managing profitable channels to market. By addressing emerging business models and buying behaviours, it empowers businesses to maximise the value of their channel partners throughout the go-to-market process.
The book provides a comprehensive overview of sales and marketing channels, tailored to a wide range of industries. Explore real-world examples such as Airbnb, Transferwise, Amazon, and ASOS to gain insights into successful market strategies. Whether you're a seasoned marketer or a budding entrepreneur, Sales and Marketing Channels is an indispensable resource for navigating the complexities of today's marketplace and building successful routes to market.
7. “The Channel Conundrum: Navigating the Ecosystem for Effective Management and Growth” (2024) by Dr Govind Rao
Overview
This comprehensive guide provides a clear and practical understanding of channel management, blending theoretical concepts with real-world examples and actionable strategies. The book begins by introducing fundamental principles and the importance of effective channel management. It covers key aspects of channel strategy development, including market segmentation, partner selection, and performance measurement. Subsequent chapters delve into the intricacies of building successful channel partner programs, offering guidance on aligning programs with business goals, creating structured partner tiers, and fostering collaborative relationships.
A standout feature of "The Channel Conundrum" is its pragmatic approach to addressing channel conflicts. It presents a comprehensive framework for identifying conflict root causes and implementing effective resolution strategies. The book also explores managing power dynamics, aligning incentives, and building trust among channel partners. In an age of rapid technological advancements, the book takes a forward-thinking approach, examining the transformative impact of digital technologies on channel management. It equips readers with the knowledge to leverage distribution channels as strategic assets for growth and competitive advantage, making it an invaluable resource for professionals, executives, and academics alike.
8. “Partnernomics: The Art, Science, and Processes of Developing Successful Strategic Partnerships” (2017) by Mark Brigman
Overview
"Partnernomics”, the blueprint for building and leading successful partnerships" offers a groundbreaking perspective on the transformative power of strategic partnerships in today's business landscape. Beyond simply highlighting the benefits of these relationships, this book provides a clear framework for managing and leading partnerships to success. "Partnernomics stands out as a pioneering work, offering a unique and interactive learning experience. The book incorporates QR codes and URLs that link to supplementary videos and resources, enhancing the reader's engagement and understanding. Successful partnerships can be a catalyst for exponential growth. "Partnernomics presents a well-researched toolkit for developing and nurturing strategic business relationships. Dr. Brigman's extensive research, coupled with his C-level experience and Fortune 100 background, adds significant value to this essential guide.
By challenging conventional zero-sum thinking, Brigman encourages readers to embrace a more strategic approach to partnerships, emphasising trust, esprit de corps, and the Partnership Pyramid. This fresh and engaging book offers valuable insights for recalibrating traditional business relationship strategies and thriving in today's rapidly evolving business environment.
9. “The Strategic Alliances Fieldbook: The Art of Agile Alliances” (2022) by Gavin Booth, Mike Nevin and Jim Whitehurst
Overview
"The Strategic Alliances Fieldbook: The Art of Agile Alliances" is a valuable resource for technology and professional services practitioners and executives seeking to accelerate the value derived from their partnerships. As traditional alliances evolve rapidly in form and tempo, this book offers a comprehensive guide to navigating the complexities of modern partnerships. The global COVID-19 pandemic has intensified the urgency and investment in digital transformation for many companies, including those in technology and professional services. Drawing on a century of combined experience leading joint businesses, the authors of "The Strategic Alliances Fieldbook" provide a roadmap for achieving faster results and avoiding common pitfalls in alliances.
The book offers a detailed analysis of professional services and technology companies, exploring the unique cultural and operational dynamics that shape their partnerships. It also provides a "Blueprint," a collection of 15 practical templates that can be applied to accelerate any alliance. Additionally, 19 case studies illustrate real-world scenarios, providing valuable insights for executives involved in partnership initiatives.
10. “Alliances, Strategic Partnerships and the Power of Analytics: Gain Control, Reduce Risk and Accelerate Growth” (2020) E. Keith Gaylord
Overview
"Alliances, Strategic Partnerships and the Power of Analytics" by Keith Gaylord offers a comprehensive exploration of the often misunderstood world of corporate partnerships. Combining actionable advice, real-world insights, and a touch of humour, this book empowers readers to understand the past, present, and future of alliances, gain control over existing partnerships, mitigate organisational risks, and accelerate the growth of broader ecosystems across all industries. As Jay McBain, Principal Analyst at Forrester Research, notes, "Keith's book provides an invaluable framework for examining the often overlooked area of establishing and measuring quantitative tools to track and manage the true value created by Strategic Alliances." He positions alliances as "startup businesses" requiring a specific joint Plan of Record and offers a wealth of examples on how to measure these complex entities and avoid common pitfalls encountered in his extensive career.
The book includes a comprehensive range of checklists, templates, and dashboards, forming what Gaylord calls an Alliance Relationship Management System (ARM). He highlights the key distinctions between ARM and existing Partner Relationship Management (PRM) and Customer Relationship Management (CRM) tools. With its engaging writing style and practical tools, this book is a valuable resource for anyone looking to enhance their organisation's alliance capabilities.