In a captivating conversation on the Investible Partnerships podcast, I sat down with Basem Emera, SVP Partnerships & Alliances from Go1 to discuss his framework for building investible partnerships and what key factors contribute to the success of partner relationships.
The conversation shed light on the continuous assessment and adaptability in the partner journey the importance of relevance, value proposition, decisiveness, predictability, and driving partner impact. Below is a Part 1 summary of what we covered in the interview, you can get to part 2 here.To listen to the podcast in full, click here.
Embracing the "Mini CEO" Role in Partnerships
According to Basem, it helps to think like a CEO in partnerships.
Basem describes the role of a partnership leader as being like a "mini CEO". As a partnership leader, you wear many hats - one day you're doing P&L management, the next day writing agreements, and the next doing sales enablement. This broad nature of partnerships attracted Basem to the role and allows him to have a holistic approach in driving partner success. As Go1 has grown, Basem's responsibilities have expanded, necessitating the development of specialized roles within the organization to support the partnership function.
The Four C's Framework for Partner Evaluation
To be a driver of Partner impact you need a deeper understanding of the partners true capabilities. Basem introduced the four C's framework—capital, coverage, commitment, and competence—as a valuable tool for assessing potential partners.
With capital referring to adequate funding and global coverage, commitment indicating a shared dedication to the partnership, and competence highlighting the partner's ability to execute indirect sales and integrate the product into their own sales cycle. The ongoing evaluation and re-benchmarking of partners throughout their lifecycle is important, as initial assessments may not always reveal the partner's true capabilities.
While partnerships require time to establish and evolve, organizations must strike a balance between investing time and realizing value. In using the four C's framework early on to obtain a simple view of partner suitability, it allows organizations to make informed decisions and avoid potential setbacks months down the line
The Dance with Partners
Basem underscores the importance of continuous evaluation and iteration in the partner journey. Partnerships evolve, and organizations must reassess partners throughout their lifecycle. Basem acknowledges that the partner landscape can change unexpectedly, with the loss of a champion or other external factors impacting the partnership's success but by embracing a mindset of adaptability and re-evaluating partners based on changing circumstances, organizations can navigate challenges and drive more successful partnerships.
What we learned
The four C's framework offers a comprehensive evaluation tool for partner suitability, enabling organizations to select partners aligned with their goals and capabilities. Furthermore, constant evaluation, coupled with adaptability and iterative approaches, ensures organizations stay agile in the face of evolving partnerships. By applying these insights, partner organizations better manage the dynamic nature of partnership building.
This article is a summary of my podcast interview with Basem and does not include the full transcript or complete conversation between us.
To listen to the podcast, subscribe wherever you listen or head to InvestiblePartnerships.com for all episode and transcripts of the show.