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1、PlaybookBusiness Development and Partnershipsin collaboration withTABLE OF CONTENTSI.INTRODUCTIONII.PARTNERSHIP TYPESIII.BUSINESS DEVELOPMENT&PARTNERSHIP STRATEGIESIV.THE PARTNERSHIPPROCESS V.PARTNERSHIP PROJECT MANAGEMENTINTRODUCTIONBusiness development(BD)is the process of identifying and pursuing
2、growth opportunities to reach new customers.One of the key strategiesin business development is establishing partnerships.In the modernbusiness world,a partnership is an arrangement between two or morecompanies where they agree to work together to achieve shared goals.Top reason to partnerTo enable
3、focusFor a more scalable growth option By partnering with other companies,you focus on your corecompetencies and strengths,and let your partners handle other aspectsof the solution.This can help you to maximize your resources,reducecosts,and increase efficiency.Partnering with another company can be
4、 a more scalable and cost-effective solution for user acquisition,compared to hiring a large salesteam.Business development becomes a necessary source of growthfor independent advisory firms as they scale.The largest firmsgenerated 4.8%AUM growth nearly 2/3 of their new businessoverall from firm bus
5、iness development.Source:Click Here!To increase credibilityPartnering with governments or well-established companies can helpincrease your brands credibility,thereby boosting its reputation andattracting more customers.To reduce costCompanies can partner to reduce costs by sharing resources andexper
6、tise,such as office space,marketing efforts,and technologicalinfrastructure.Employee Retention&Talent AcquisitionReduce Time&Cost Per HireImprove Employee EngagementCommon Challenges in BD&Partnerships:Critical Foundations and Mindsets to be SuccessfulYour partners,will prioritize things that bring
7、themost interest for themMake things as easy as possible for your partnersBe okay with rejectionUnderstand and prioritize your partners interests and objectives.This canhelp you craft a compelling value proposition that addresses theirspecific needs and pains,and demonstrates how working together wi
8、llbring mutual benefits.By streamlining processes and removing any obstacles or hurdles thatcould slow down or hinder the partnership,you can help create a moreefficient and effective working relationship.Rejection is a natural part of the process and its important to be okaywith it and not take it
9、personally.Instead,see rejection as an opportunityto learn and improve,and use the feedback to make adjustments to yourapproach.Prioritize your effortsBe data-drivenHave a diversified growth strategy and do not solelyrely on one BD and partnerships This allows you to focus on the initiatives that wi
10、ll have the biggestimpact on your companys goals and objectives.This means having a clear understanding of the results you want toachieve through your partnerships,and setting up systems to track andmeasure those results.This helps you to evaluate the performance ofyour partnerships over time,and ma
11、ke data-driven decisions about howto improve and optimize your approach.Its important to be flexible and be able to adjust to unexpectedsituations that may arise,such as changes in priorities,marketconditions,or organizational changes within the partner company.PARTNERSHIP TYPESGojek,a leading super
12、 app in Indonesia,has many productsand features in its application that are established inpartnership with other companies.This enables Gojek to offer awide range of products and services to its customers,while itspartners handle the operational aspects of those products andservices.Shopee,an e-comm
13、erce platform,partnering with a deliveryservice provider to offer a faster and more convenient deliveryservice to its customers.Each type of partnership can bring different benefits,and its important tocarefully consider your goals and priorities when selecting a type ofpartnership to pursue.Product
14、 partnerships involve collaboration between companies to createnew products or improve existing ones.This type of partnership typically involves sharing resources,knowledge,and expertise to create a product that neither company could createalone.Product PartnershipsTo make it simple,these partnershi
15、ps can be categorized intothree main categories:Examples of Product PartnershipsZenius,an online learning platform,partners with Hybe Edu tocreate a Korean language course.This partnership allowsZenius to expand its language offerings and provide acomprehensive learning experience to its users.Marke
16、ting PartnershipsMarketing partnerships are collaborations between two or morecompanies to achieve shared marketing goals.The objective of amarketing partnership is to improve the sales funnel,by increasingawareness,driving acquisition,and converting prospects into customers.The partners split the c
17、osts of themarketing tools,such as printads,billboards,or posters,toreach a shared target marketand generate brand awarenessfor both partners.This can include a wide range ofactivities,such as digitalpromotions,user-generatedcontent through social media,email marketing,and other formsof online adver
18、tising.Offline Marketing CampaignOnline Marketing CampaignJoint Marketing ActivityCollaborate with partners on marketing campaigns or initiatives toreach a shared goalExamples of Marketing PartnershipsLoyalty/RewardsPartnering with companies who have loyalty or membership programs inorder to support
19、 those programs.Potential partners for this type ofpartnership could include telecommunications companies,cinemas,and other companies with rewards/loyalty programs.This type ofpartnership is a win-win,as both partners can benefit from the increasedcustomer engagement and loyalty that results from th
20、e partnership.Highlight the benefits you offer,such as revenue sharing andcomplementary solutions.Emphasize the value you bring to your partners users.Build credibility by showcasing your companys reputation andproduct/service qualityPartnering with another company to promote your products or servic
21、esin exchange for a commission on any sales made through theirmarketing efforts.Guidelines for onboarding affiliate partners:AffiliatedExamples of Distribution PartnershipsOnline distribution channelOnline distribution channels involve partnering with e-commerceplatforms,websites,or online marketpla
22、ces to sell products directly tocustomers through the internet.Tokopedia is a well-known and widely used e-commerceplatform that serves as a comprehensive distributionchannel for a diverse range of products and servicesNetflix is one of the leading distribution partners for manyfilms.With the existe
23、nce of Netflix and other similarplatforms,movies can now be distributed through variousover-the-top(OTT)channels,in addition to traditionalcinemas or offline DVD stores.Distribution PartnershipDistribution partnerships focus on developing channels for distributingproducts to reach new markets or cus
24、tomers.Its important to becreative and consider various distribution channels as they can providediverse opportunities to reach your target market.Offline distribution channelOffline distribution channels refer to traditional brick-and-mortar retailstores and physical marketplaces where customers ca
25、n go to purchaseproducts in person.This includes big box stores,grocery stores,andspecialty shops.Other distribution channelA childrens skincare brand can sell its products through motherscommunities.The large ride-hailing companies in Indonesia have millions of driversin their communities.If your t
26、arget audience aligns with this group,you can explore having them sell your product to their driverscommunities.Other distribution channels refer to alternative methods/channels fordistributing your products and services.To identify the right channel,consider where your potential customers are and w
27、ho they are engagedwith.Here are some examples:In addition to bookstores,book publishers can also distribute theirbooks to libraries and offline learning centers.Sports accessory brands can not only distribute their products tosports stores,but also to sports centers such as gyms.Skincare and hairca
28、re brands can distribute their products to beautysalons.Other examples of offline distribution channels:As far as possible,try not to give any partners exclusive distributionrights,especially when you are just starting to build out your markettraction as a startup.Doing so limits your ability to ent
29、er into distributionpartnerships with other parties and may handicap your growth.If youreally have to grant exclusivity to secure a distribution deal,you couldconsider ways to limit it to a specific geography(such asJabodetabek),channel,or industry sector,which wouldprovide you with more flexibility
30、 and the opportunity towork with other distribution partners.-Yaw YeoHead of Growth,BUSINESS DEVELOPMENT&PARTNERSHIP STRATEGIESUnderstandingthe current state of thecompany1324DevelopinggrowthstrategiesDefining andprioritizing levers ormetricsDefiningFeasibilityDeveloping a Partnership StrategyThe fo
31、llowing are the four steps in developing a business development orpartnerships strategy:This includes understanding the companys Northstar metrics,goals,andcurrent pain points or needs.Ensure that your strategy aligns with thecompanys overall objectives and priorities.Identify the key metrics that w
32、ill drive the functions success.Thesemetrics should align with the companys goals or Northstar metrics.Some examples of metrics to consider include:Awareness,Active Users,Revenue,Time Spent per User,Retention,New Products.By prioritizingthese metrics,you can focus your partnership efforts on the are
33、as thatwill have the greatest impact on your business growth and success.Develop partnership strategies that can help grow these metrics.Thisincludes determining the types of partnerships that are needed,such asproduct partnerships or marketing partnerships.Understanding the current state of the com
34、panyDefining and prioritizing levers or metricsDeveloping growth strategiesConduct a feasibility check to analyze the companys capability andcapacity,including the internal bandwidth and resources.This step iscrucial in ensuring that the partnership strategy is realistic andachievable.For example,co
35、nsider whether its feasible to do product integration orlaunch a big marketing campaign.Defining FeasibilityAligned target audience:For marketing partnerships,look forpartners who serve your specific target users or have a similar userprofile.Consider where your target users spend their time and hav
36、ethe intention to engage.Compatible products:For product partnerships,look for partners whohave the ideal product you need or the capabilities to develop it.Look for partners who have the scale,audience,and technicalcapabilities to support your objectives.Consider cultural and working relationship f
37、it when evaluating potentialpartners.Look for partners who have a need or desire for the outcomes of thepartnership,such as increased revenue or brand recognition.To ensure a mutually beneficial partnership,its important to define yourideal potential partners.Here are some criteria to help you ident
38、ify theright partners:Capability to achieve your strategy objectiveShared values Mutual benefitsDefining Ideal Potential Partners Look for partners with a good reputation and no conflict of interest.Consider the leverage you have with potential partners.The moreleverage you have,the bigger potential
39、 partners you can engage.Good ReputationFeasible engagementTHE PARTNERSHIPPROCESSThe Partnership ProcessThere are typically several stages in the partnership process:Preparation of the Partnership Pipeline:This involvesresearching and identifying potential partners that align withyour goals and obje
40、ctives.Approaching Potential Partners:This involves reaching out topotential partners to express your interest in a partnershipand initiate a dialogue.Preparation of the Partnership Pitch or Deck:This involvescreating a presentation or document that showcases thebenefits of the partnership and outli
41、nes the goals andexpectations of the partnership.Preparation ofthe PartnershipPipelineApproachingPotentialPartnersThe FirstMeetingNegotiation andDeal MakingPreparation ofthe PartnershipPitch or DeckThe First Meeting:This involves meeting with the potentialpartner to discuss the partnership opportuni
42、ty and to assesswhether there is a mutual fit.Negotiation and Deal Making:This involves working with thepotential partner to define the terms of the partnershipagreement,including the goals,expectations,andresponsibilities of the partnership.GoogleLinkedInYour personal networkCompetitors sitesIndust
43、ry eventsListing the Potential Partners:Research and identifycompanies that match your criteria through various channelssuch as:Preparation of the Partnership PipelineWith your set of criteria for potential partners in hand,you can now startcreating your pipeline to manage the partnership process.He
44、re are thesteps to follow:Listing thePotentialPartnersFinding ContactInformationPreparing aTrackerDocumentLinkedInReach out directly to potential partners throughLinkedIn chatThe corporate websiteYour personal networkIndustry events Finding Contact Information:Obtain the contact informationof potent
45、ial partners through sources such as:Company NameLast Date of ContactActivity(Meeting,Email,etc.)Contact DetailsPriority Preparing a Tracker Document:Create a tracker documentthat includes relevant information to track the partnershipprocess such as:By keeping track of this information,you can effec
46、tivelymanage the partnership process and ensure that it isprogressing as planned.Approaching Potential PartnersHere are some important considerations to keep in mind whenapproaching potential partners:1.Relevance:To succeed in engaging partners,research their interestsand make sure your proposal is
47、relevant to their situation and providesclear messaging around the key benefits for them.2.Customization:Take a customized,partner-centric approach whentailoring your communication to fit the potential partners specific needsand goals3.Mode of Communication:Choose the mode of communication thatbest
48、suits your potential partners,options include email,phone calls,WhatsApp,in-person meetings,video conferencing,LinkedIn,and socialmediaAn email introduction is the simplest way to start,but email may not bethe preferred mode of business communication in Indonesia,especiallyin traditional industries
49、like manufacturing and agriculture.Instead,itsmore common to conduct business exchanges through WhatsApp,phone calls,or in-person meetings.LinkedIn has limited penetration inIndonesia,with an estimated usage of only 10-15%of the population.While LinkedIn is useful for reaching tech-savvy industries
50、such as techcompanies,startups,and digital banks,it may not be as effective forreaching partners outside of the tech sector.-Yaw YeoHead of Growth,4.Warm Introduction:Try to find a warm introduction to the potentialpartner,as this can increase your chances of success.5.Understanding the Partner:Unde
51、rstand not just the partnercompanys goals and objectives,but the specific individuals you will beworking with.Consider their motivations,decision-making processes,and any relevant timelines.At Gojek,we approach thousands of potential partners,ormerchants,on a monthly basis.Our warm approach leads to
52、 a40%higher conversion rate compared to a cold approach.-Novasari Putri Senior Strategy Manager,Doing business with partners is first-and-foremost about doingbusiness with people.Having an intimate understanding of the humandynamic and navigating that fluently is essential to winning thepartnership,
53、especially in high-context cultures like Indonesia.-Yaw YeoHead of Growth,Preparation of the Partnership Pitch DeckHere are the essential components to include in your partnership pitchdeck:1.Present your company background and credentials to establish trustwith your potential partners.Emphasize you
54、r unique value propositionand reasons for being different or better than competitors.For example,mention a prestigious program or award you have participated in todemonstrate credibility.2.Second,outline the partnership positioning and ideas for collaborationor solutions.Consider the potential partn
55、ers needs and priorities andensure that your positioning has high potential to impact their metrics.Ifthe potential partner already has a partnership with another company oruses a competitors product,emphasize the significant values they willreceive through collaboration with you or by converting to
56、 your productor service.Provide a clear and simple path for collaboration orconversion.3.If you lack insight into the partners needs,you can either put a generalpositioning that ties your pitch to common metrics or benefits(such asincreased leads,revenue,or cost savings),or you can use the firstmeet
57、ing as an opportunity to gather information about their needs andtailor your pitch accordingly.Include additional relevant information inyour pitch deck,such as success stories from existing partners or clients.Summary and the next steps.Here are key tips for your pitch deck:Keep it concise and impa
58、ctful.The simpler it is,the better.Limit text and incorporate relevant visuals to make it easier tocomprehend.A well-designed deck conveys the professionalismand reliability of your company.The presentation of your pitch deck is crucial as it can reflect yourcompanys branding.During Xendits early da
59、ys,mentioning participation in the Y-Combinator program was often used to establish credibility withpotential partners.The goal was not to solely focus on Y-Combinator,but rather to find and highlight elements that wouldbuild trust and credibility.-Yaw YeoHead of Growth,The First MeetingHere are key
60、 things to prepare before meetings with potential partnersSet the meeting durationbased on your partnersprofile.For instance,a 30-minute meeting may besufficient for an initialmeeting with startups,but anhour or longer may benecessary for a meeting withthe government.Prepare a script to avoidforgett
61、ing importantinformation and to ensure astructured pitch.Gather as muchinformation as possiblebeforehand.Name the meeting invitationappropriately,such as YourCompany Name Potential Partners CompanyName.Anticipate and prepareanswers for potentialquestions or concerns fromthe partner.Practice the pitc
62、h,if necessary.Start with a lightdiscussion:topics suchas the weather,mutualconnections,news,oranything to break the ice.Present partnershipideas/solutions.Next steps:Outline thenext steps in thepartnership process andmake it as easy andsimple as possible foryour potential partner.Introduction:Give
63、a briefoverview of yourself andyour companybackground.Information gathering:Ask about the companyscurrent focus and priorities,as well as the stakeholdersfocus within the companyand any personalinformation that may berelevant.Meeting conversation structure can be:Negotiation and DealmakingIn order t
64、o successfully negotiate and make deals,it isimportant to determine the terms and arrangements that areimportant to you,including any non-negotiable terms.Here aresome tips to help you negotiate and secure the terms youwant:Understand your and your partners leverage andmaximize it.By this stage,you
65、should have a goodunderstanding of your leverage based on your previousresearch and positioning,but you may need to readjust it.When faced with requests that you cannot fulfill,clearlyand respectfully explain the non-negotiable situation,such as stating that it is a management decision or a lackof r
66、esources from the product team.Make yourself easy to communicate with and try to makethe process as smooth and straightforward as possiblefor your potential partner.It is also important toremember that they are more likely to work with you ifthey like you.If you want to negotiate for better terms,co
67、nsider beingcreative in your offer by offering alternative or additionalterms that will benefit your partner,such as exclusiveaccess to data or additional free support.When pushing for specific terms,present your improvedpositioning in a polite and acceptable manner.You donot want to come across as
68、annoying or difficult.Negotiation and Dealmaking:The AgreementIt is crucial to have a clear understanding of your companyslegal requirements and procedures for partnerships beforeentering into an agreement stage.Some questions to considerinclude:What parts of the agreement need to be completedby the
69、 business development or partnership team?Is a non-disclosure agreement(NDA)necessarybefore each agreement?Does your companyaccept NDA templates from other companies?Are legal documents necessary for screening beforedrafting the agreement?Are agreements required for non-monetarypartnerships?What is
70、your companys term of payment(TOP)?As the main person in charge of a partnership project,it is yourresponsibility to fully understand the agreement and ensurethat all relevant and critical terms are included.Here are someterms to keep in mind when reviewing a partnershipagreement:The exclusivity of
71、the partnerships:be carefulin considering whether you really needexclusivity or not as it may limit your growthpotential.Termination or exit terms:you should have away out in case the partnership doesnt workor there is an unforeseen external or internalsituation that makes the partnership nolonger v
72、iable.Access to relevant partnership data fromyour partners side:it is crucial for you to beable to monitor the performance of thepartnership or its contribution to your ownmetricsRoles and responsibilities for both parties:thismay include a timeline with a clear output orimplementation deadline.PAR
73、TNERSHIP PROJECT MANAGEMENTManaging The Partnership ProjectMaintaining Relationships with PartnersHaving signed the agreement is just the beginning of a partnership.Tomake the partnership successful and productive,it is important tonurture the relationship you have built with your partners.Here are
74、sometips to help you build and strengthen your relationship with your partners:Regular communication is key to building trust and keeping yourpartnership strong.Schedule regular check-ins with your partner,todiscuss the progress of the partnership and any potential issues thatmay arise.Conflicts are
75、 bound to arise in any partnership.It is important to addressconflicts quickly and effectively to avoid damaging the relationship.Listen to each others perspectives,find common ground and worktogether to find a resolution that is beneficial for both parties.Make sure that both you and your partner h
76、ave a clear understanding ofwhat is expected from each other in the partnership.Establishing clearexpectations from the beginning can help avoid misunderstandings andconflicts down the road.Celebrate the successes of the partnership and acknowledge thecontributions of your partner.This can help buil
77、d a positive andproductive relationship and foster a sense of teamwork andcollaboration.Resolve conflicts quicklySet clear expectationsCelebrate successesRegular communicationLeading Internal Team CollaborationWhen it comes to partnerships,the partnership team may serve as theproject leader,coordina
78、ting efforts with various internal stakeholders,such as the marketing team,product team,finance team,etc.Make sure that all relevant internal stakeholders are aware of thepartnership project and understand its importance.Communicate thegoals,timeline,and expected outcomes of the partnership project
79、to allinternal stakeholders,and ensure that they are on board and ready towork together.Once you have everyone on board,it is important to assign clear rolesand responsibilities to each team member.Set up regular meetings,calls,or email updates to keep everyoneinformed and on track.Regularly monitor
80、 the progress of the partnership project and ensurethat all internal stakeholders are meeting their deadlines and deliveringon their responsibilities.If someone is facing a challenge or obstacle,provide support and guidance to help them overcome it.Assign roles and responsibilitiesSet up regular com
81、munication channelsMonitor progress and provide supportGet internal stakeholders on board1.Design your monitoring dashboard or documentation in a way thatclearly connects your target metrics to the events or variables related tothe partnership project.Be meticulous when it comes to the numbers.2.Ens
82、ure that your monitoring dashboard is ready before the projectbegins.Test it if necessary to ensure that data can be accuratelycaptured from the start.3.Start monitoring the data as soon as the project is launched.If anyissues arise,make adjustments or improvements as soon as possible.4.Regularly ev
83、aluate the projects performance in collaboration with allinternal and external stakeholders.5.Implement either synchronous or asynchronous monitoring methodsto keep track of progress,and take the initiative to identify and addressany potential roadblocks or support needs for you or other stakeholders.Monitoring and EvaluationMonitoring and Evaluationits time to set up a monitoring system or documentation that isintegrated into the project plan.Consider the following tips to ensure asuccessful monitoring and evaluation process:Produced byin collaboration with