The definition of a “general partnership” is a relationship between multiple entities where value is provided to all participants.

The primary difference between general partnerships and strategic partnerships is: general partnerships always include a revenue share.

The 3 types of business growth strategies covered in the Business Growth Flowchart are Organic, Acquisition, and Partnering.

Of the three types of business growth strategies covered in the Business Growth Flowchart, organic is the most collaborative.

The average success rate of B2B partnerships is over 50%.

The best PARTNERNOMICS tool/process to help identify your organization’s best ‘Growth Engine’ is the Business Growth Flowchart. 

The Partnership Success Pyramid is the PARTNERNOMICS tool used as the ‘yardstick’ to continually evaluate candidate and partner fit.

The Partnership Success Pyramid shares the 7 imperatives of partnership success.

The Business Growth Flowchart includes the use of SWOT analysis.

The Partnership Success Pyramid includes the use of the 6-Cs framework.

The “Channel Partnership” type “ISV” stands for Interdependent Solutions Vendor.

A completed Power Analysis illustrates the ‘opportunities’ and ‘threats’ that your company could impose on another organization.

Highly transactional relationships are great examples of achieving full commitment between the parties. 

Co-Selling occurs when sales teams, from two or more companies, combine forces to achieve sales.

In ‘referral partnerships’, one party originates an opportunity of value and she refers the opportunity to a specialist (vendor/solution provider) to consummate the engagement.

A Value Added Reseller (VAR) specializes in developing proprietary software solutions that run on one or more computer operating systems, such as Windows, iOS, or cloud platforms.

The partnering mindset drives professionals to utilize a highly collaborative approach.

Strategic Partnering includes the intent to create a multiplier effect, differentiation, and exponential growth.

Having a “transactional mindset” commonly means you are well-suited to innovate your company’s solutions to create differentiation.

Managed Service Providers (MSP) offer remote technology management services to keep their customer’s IT infrastructure running strong.

An Original Equipment Manufacturer (OEM) is a company that builds components for another company’s final product.

Leading partnering organizations almost always have a strong culture that reinforces independence.

Strategic Partnering Agreements are actively negotiated so each party’s unique capabilities can be evaluated and potentially included.

The PARTNERNOMICS Indirect Sales Partnering process has 7 phases. 

According to Bernie Brenner, the author of The Sumo Advantage, the first of the three priorities of Business Development is profits.

Marketplaces are considered as one of the 4 “Solutions Partnership” types.

Referral partnerships are included as one of the six “Facilitator” partnership types. 

A “VAR partnership” is a Value Added Reseller.

A referral partnership is always considered a strategic partnership.

Co-Selling and Affiliate partnerships are both categorized under the “Facilitator” partnership type.

Partnerships involving “finders fees” are examples of referral partnerships.

A Solutions partnership that includes the connecting of software, commonly via APIs, is an example of an integration partnership.

In Channel partnerships, GSI stands for Global Solutions Implementer.

McDonald’s and Ford Motor Company are examples of Channel partnerships.

Amazon is an example of a Marketplace partner to many manufacturers.

When a “Growth Engine” strategy results in exponential profit growth, the organization achieves a “competitive advantage.”

A Bargaining Matrix analyzes examines strengths, weaknesses, opportunities and threats.

No Cross Pollination is a “con / negative” with respect to the organic growth approach.

The ability to achieve “exponential profit growth” is dependent on having physical products in stock. 

Consultants use the analogy of comparing a SWOT analysis to a CAT scan or MRI for a company.

“It is always better to have NO DEAL than a bad deal.”

Clayton Christensen helped advance the “Jobs-to-be-Done” Theory by highlighting a “solutions-oriented approach” to developing new solutions.

Borders partnered with Amazon to become the world’s largest provider of podcasts.

The strategic quadrant of the Quadrants of Solutions has the highest level of short-term profit growth opportunity.

Moore’s Law can best be described as claiming that “the most unique idea will become the most profitable.”

Professionals who are able to master the first four imperatives of the Partnership Success Pyramid, will maximize their opportunities to achieve significant results.

Professionals engage in partnerships as an alternative to growing organically or through acquisition.

The Partnership Success Pyramid claims that “transparency” means having in-person communications between partners.

The trust imperative in the Partnership Success Pyramid means having full “commitment and loyalty”.

Of the 6 SPLM Elements, Vision is most focused on aligning company cultures.

The teams element includes claims, statements, and beliefs that should be the DNA of every person, team, and decision that makes up your organization.

Jim Collins and Jerry Porras co-authored the book ‘Winning it All’ which is focused on company vision.

A company’s mission should appeal to emotions, inspire action, and compel people to want to support its purpose.

A company’s “vision” is also referred to as its short-term strategy.

A company’s “mission” should have a time horizon of 2-3 years.

According to a 2018 Gallup poll 85% of employees “hate” their jobs.

A company’s vision should be used to attract new employees, partners, and customers.

Simon Sinek’s book Start With Why claims people are motivated and inspired by emotions that are controlled by the “limbic brain.”

An organization’s core values are its “short-term purpose” and it is designed to drive day-to-day behavior.

An organization’s mission should be both an aspirational and attainable goal.

Vision statements are the central principles that we live by; they are our beliefs that are demonstrated through our decisions and actions.

Peter Drucker the management thought leader said, “Culture eats strategy for breakfast?”

PARTNERNOMICS teaches Salim Ismail’s four-question approach to help create an organization’s Massive Transformative Purpose (MTP). This is known as the CEO’s approach.

Ideally, organizations will set their “core values” when the company is founded.

It is ideal to set an organization’s core values when it is founded to create a culture around the values and make all coming decisions through the lens of the value.

The success or failure of your partnerships are MOST heavily dependent upon contractual terms.

The two PDL teaming approaches shared in PARTNERNOMICS are hunter/farmer and Sumo.

People who have high emotional intelligence are able to sense when “something is wrong” because they are tuned into the behavior of others.

TKI and DISC are examples of tools that are best used to help you within the Processes Element.

PARTNERNOMICS recommends that executives budget at least 50% of a PDL’s annual salary for “supplemental resources.”

“Fractional PDLs” must have at least 1 day of their week dedicated to the partnering function or it will likely be unsuccessful.

According to the DISC framework, people who are “outgoing” or “extroverted” get ideas from others, whereas “introverted” people need time alone to decompress.

According to the DISC framework, people’s work is either task or people-oriented.

According to the DISC framework, commitment is NOT one of the four primary behaviors.

According to the DISC framework, ‘High D‘ is likely to be the optimal behavior during an emergency.

A person’s core values tend to shift yearly over time.

When “natural alignment” is achieved between people, conflict tends to reduce.

Truly “strategic partnerships” always include an innovative initiative; therefore, profits are virtually inevitable.

One of the goals of the Thomas-Kilmann Instrument (TKI) is to make people become more aware of their financial interests when engaged in conflict.

Highly skilled professionals can use the Thomas-Kilmann Instrument (TKI) to help them adapt their behaviors so they can more quickly resolve conflict.

According to the Thomas-Kilmann Instrument (TKI) framework, the best way to influence others is to adjust your behavior mode to a(n) competing style in order to ultimately resolve a conflict.

According to the Thomas-Kilmann Instrument (TKI) framework, behavior modes that score above 75% or below 25% are considered to be accommodating.

A collaborating conflict mode from the Thomas-Kilmann Instrument (TKI) is considered a “problem solver“.

The “compromising” Thomas-Kilmann Instrument (TKI) “conflict mode” is the most concerned with “others.”

The “competing” Thomas-Kilmann Instrument (TKI) “conflict mode” is the most assertive.

The “S” in “S.M.A.R.T. goals” stands for specific.

The “M” in “S.M.A.R.T. goals” stands for momentum.

The “T” in “S.M.A.R.T. goals” stands for tested.

A strategic partnering team’s goals should be aligned with the organization’s goals.

Another name for the “bottoms-up” approach to setting and managing goals is OKR.

Measure What Matters is John Doerr’s book that offers a good guide on implementing the OKR framework.

OKRs are designed to be 30–day sprints to a desired objective.

When goal setting follows the traditional “top-down” approach, many employees see the imposed goals as their executives’ goals, not their own.

A key goal-setting success practice tells us to not set more than 5 goals for a particular subject (person, partner, etc.).

When setting goals, you should set no more than 3 at a time because the human brain can organize 3 goals, but focus is quickly diluted past 3.

Chris McChesney, author of The 4 Disciplines of Execution states all goals should have a 1) starting line, 2) finish line, and 3) stretch line.

Chris McChesney, author of The 4 Disciplines of Execution states that all goals should have a starting line, a finish line, and a deadline. This is because having a set deadline ensures that the goal will be time-bound.

With respect to operationalizing a B2B partnership, the acronym KPI stands for known partner information.

Lagging indicators are performance metrics that represent outcomes.

Strategic indicators are used as a means to predict or forecast a particular result.

Step #1 in selecting performance metrics to help govern a partnership is to determine your annual budget.

When selecting metrics to help manage B2B partnerships you should continually evaluate and if needed change the metrics.

The results element of the SPLM framework focuses on making your organization systematic and efficient.

Partnering processes consist of core processes, secondary processes, and procedures.

After your processes are identified and documented, leaders must ensure the processes are followed. 

The most common software tool for managing external B2B partnerships is a customer relationship management platform.

In the 2010s, PRMs were mostly used by large companies because they were quite expensive and it was easier to prove their value in large companies.

Studies have shown that PRM systems are likely to result in an increase in channel revenue and partner engagement.

PartnerStack, Zift, and Kiflo are all examples of PRMs

The SPLM framework is also referred to as a company’s partnership “operating system”.

Partner information, marketing, and external messaging are core components of a PRM.

Indirect and Systems Integrators (SI) are other names for referral partnerships.

In Trust Factor, Dr. Paul Zak describes a great team culture as having financial incentives for high performance.

According to Dr. Paul Zak, having a great company culture must include religion & diversity.

Gallup stated only 13% of employees were engaged in their work. The reaon(s) cited were there isn’t enough trust and purpose in these organizations.

Some success principles for having productive team meetings include meeting weekly, same day/time, and having a standard agenda.

The Business Growth Flowchart claims after we say “yes” to growing our organization, we next need to decide if we are committing to an incremental or exponential level of growth.

All “exponential growth strategies” include a patent that may lead to a competitive advantage.

Joint venture is NOT one of the three core strategies for growth covered in the PARTNERNOMICS curriculum.

Phase 1 of the 6 Phased Partnering Process is finding a partner.

The Strategic Partnering Plan (SPP) helps organizations create internal alignment, clarity, and focus regarding partnership resources and intent.

A Strategic Partnering Plan (SPP) is created to detail the intent of a partnership, such as the interworkings between Apple and AT&T.

The middle portion of a Strategic Partnering Plan (SPP) is focused on Eli Goldratt’s Constraints Model.

The Strategic Partnering Plan (SPP) has 9 components.

Open-ended questions are designed to have your counterpart elaborate.

You should utilize Open-ended questions with people if you want a quick and definitive answer.

The ideal time period to send out a meeting agenda prior to a meeting is 2 days.

As the parties learn more about each other’s interests their due diligence questions will become more specific.

The Bargaining Matrix tool is designed to help you evaluate “must haves” and “nice to haves” when preparing to negotiate deal terms.

The Partner Preparation Sheet is recommended to be used in Phase 2 to efficiently facilitate partner candidate meetings.

The PARTNERNOMICS Power Analysis tool is designed to help you capture your team’s “must-have” items.

Your Term Sheet will eventually be used to create your Strategic Partnering Plan (SPP).

Scribe is NOT one of the “hats” that you wear as a negotiator.

A conditional offer is making an offer that places your condition as a prerequisite (before) to your offer of value.

When conducting a virtual/distance meeting with others, you should insist on voice-only phone calls as your form of engagement.

The two types of Non-Disclosure Agreements (NDA) are: Unilateral/one-way and Bilateral/two-way. 

In situations where both parties wish to share sensitive information, the parties should execute a Mutual Non-Disclosure Agreement.

The legal term “assignment is defined as the transfer of property, interest, or rights held by one party to another party.

A warranty can be defined as a failure to perform a promise that is anticipated, expected, or required in an agreement – without legal excuse. In short, a failure to live up to a duty of care.

Confidentiality can be defined as a clause that outlines highly sensitive material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties.

Dispute resolution can be defined as a process that allows the parties to a contract to have any disagreements or conflicts arising under the contract are addressed by invoking a predefined procedure.

Dissolution is the process by which a contract or partnership is ended by the parties themselves. Terms should address the responsibilities and levels of asset ownership that each party will maintain after the termination.

Liquidated damages can be defined as the right to perform an action or acquire a benefit and to deny all others the right to perform the same action or to acquire the same benefit.

Governing law can be defined as the system of law, which forms the deciding principles for the factual situation giving rise to a dispute. In contracts, the term refers to a clause also known as a “choice of law” provision in which the parties agree that a particular jurisdiction (i.e. a state or country) laws will be used to interpret their agreement.

A Non-compete is a collateral agreement in which one party assures the other party that he/she will perform the promise or fulfill the obligation of a third party if that third party fails to do so.

Indemnification can be defined as Party A promising to compensate the loss incurred by Party B, due to the act(s) of Party A. This provision can be either unilateral or mutual.

Injunctive relief is an equitable remedy in the form of a court order that compels a party to do or refrain from specific acts. A party that fails to comply with such an order faces criminal or civil penalties, including possible monetary sanctions and even imprisonment.

Termination for convenience is a restriction on the amount of compensation that can be recovered from a third party due to an action or inaction. This can be a clause in a contract or a statute.

Liquidated damages are the sum of financial compensation that a party agrees to pay if they breach the contract by failing to perform some promise. The sum is considered equitable compensation to cover a good faith estimate of a loss due to a breach.

A non-compete also known as a “restrictive covenant;” this clause restricts at least one of the parties from starting a similar profession or trade that is significantly similar to the products/solutions offered by the parties of this agreement.

Injunctive relief creates a confidential relationship between parties to protect information such as trade secrets or other proprietary research, development, or commercial information.

A Non-Solicitation can be defined as a freestanding agreement or a clause within a broader contract, where a party promises to not recruit another party’s clients or customers or to hire their employee(s).

In contracts, a statement of fact – express or implied – pertinent to the contract, made to induce the other party to enter into the contract is considered representation.

Revenue sharing is a performance-based payment structure where the parties receive a portion of the fees paid by the end customer.  

Severability is the right to meet the terms of a proposed contract before it is executed; i.e. the right to have an initial option to purchase or engage in an offer after it becomes available to others outside of this provision.

A service level agreement is a contract between a service provider and a partner or client that defines expected performance such as quality and availability. 

A termination for cause is an equitable defense to all or part of a claim. It can also be the right of a debtor to balance mutual debts with a creditor. To determine this “reconciliation,” simply subtract the smaller debt from the larger one.

Severability is a clause in a contract that allows the remainder of a contract to apply even if other provisions are found to be illegal or otherwise unenforceable by a court.

Survivability is a clause that specifies which contract provisions will remain in effect after the termination or expiration of the agreement. Common obligations covered by these clauses include Confidentiality and Non-compete.

In contract law, exclusivity refers to the circumstances under which a party has a right to end the contractual relationship prior to its anticipated term.

Injunctive relief is a provision that entitles a party to a contract to terminate it at any time without any liability for damages the other party might suffer as a result of the termination.

Waiver of Jury Trial is a contract clause that specifies that the parties agree to have any dispute resulting in civil litigation be resolved by a “bench trial” in which the judge will be the finder of fact.

Warranties are a guarantee or promise which provides assurance by one party to the other party that specific facts or conditions are true or will happen. These may be express or implied, depending on several factors.

A partner would want to have a warranty included in an agreement because it allows the party to terminate the agreement at will.