Fastest Way To Multiply Your Revenue Objectives: Understand How Your Business Partners Make Their Money & How You Can Help Them

Very few manufacturers have sufficient skills, knowledge or capacity in-house to provide satisfactory solutions to customer needs. Nor do they have the reach to multiply their marketing and sales efforts. Business partners can fulfill these essential gaps and accelerate revenue returns and market share growth.To work effectively and successfully with business partners in business-to-business markets, we need to develop a thorough understanding of their key economic activities and related business characteristics. When meeting a new business partner, we need to know how they make their money. What are their main sources of income? What are they really good at, and not so good at. How can we help them? If they do well with us, we will do well with them.For best and continual results, cooperation and collaboration with business partners are mandatory. This is important for the following reasons:1. Business partner models (e.g. alliances, distributors, resellers, solution providers, and systems integrators) should fit the marketing and sales objectives of the manufacturer and the requirements of the targeted market. 2. Effective cooperation models consider the strengths and weaknesses of the partners to optimize overall results and avoid unnecessary overlaps, disappointments and risks.3. Different types of business partners require different compensation and incentive systems. 5 Key Business Models In this book, we identify and examine the five key business models that are most often used and how they are appropriate for you.11 Core Attributes for all ModelsYou will learn the eleven core attributes for all the models and how these essential attributes vary for each model. These differences will allow you to focus your efforts with your partners in the most advantageous and beneficial ways for effectiveness and efficiency, and faster results.Successful channel-ready manufacturers recognize their partners' business models and adapt their channel management systems to these models. Business partner characteristics break down into five distinct areas:1. Strategic Positioning: what the partner believes its role is in the value chain2. Business Characteristics: the way operational activities are structured and performed3. Organizational Characteristics: how the partner is organized and how it is managed4. Financial Characteristics: both in terms of balance sheet characteristics and financial processes5. Business Exposures: the risks associated with each particular business model.Each element should support the same goal and, therefore, must be consistent with the others. When they are inconsistent, the business partner may have serious operational and strategic problems. You will use this book regularly as a reference and resource to guide your partner management programs for best results. “We use this book as a bible and consult it regularly, almost daily, in working with our channel and partner programs. Each time I look at it, it makes our relationships and activities even more clear and helps guide us to provide the most beneficial support to our partners.”----Paula Carvalho, International Marketing Area Manager, Canon Europa B.V.