The Bad Date

Think back before personal ads and Internet match-making sites became popular. Most of us trudged through the dating world on a hit-or-miss basis.  Through the process of elimination, we figured out what we ultimately wanted in a relationship through a series of dates; some of which would make good fodder for a Seinfeld episode or two.

For my part, on one such hit-or-miss sitcom, I knew that my date would not be the woman I married the moment she opened the door to greet me.  Somewhat alarmed by the bulldog cradled in her arms, baring its teeth, I did a double-take.  After a bizarre discussion where I suggested that she leave her dog at home, she crisply said, “well, good-bye then” and closed the door.  Stunned, I turned and left, never to return.  Somehow, we both knew it wasn’t meant to be.

Now, some of you are wondering what kind of person would be turned off by a bulldog at the door. But I know that others are asking, “How could he not have known this about her beforehand?” And to that I say, “Good question.”  Trust, however, that I was sure to ask every date after that about her affinity for dogs, as well as several other “pre-qualifiers” that somehow painfully got added to the list over years of dating.  The point is, when it comes to personal relationships, most people take years to figure out what works best for them.  When it comes to business, however, most companies – especially technology companies – don’t have the benefit of time on their side.

There are over 150,000 channel players with which technology companies may partner to reach target customers.  The playing field, if you will, can be confusing, and knowing how to begin can save significant time and money.
 
Understanding – and documenting in a profile – the following three things will help you flesh out your business requirements long before you have a conversation with a prospective partner:

        1. What do your customers want/need?  What is the customer issue that your offering
            resolves?  What is it that your customers value most? Are there gaps between what they
            want and what you can (or want) to deliver?  (Not sure you know?  More about that next
            month)

        2. What do you want a prospective partner to do for you?  Can it augment your competencies
            to reach a broader market?  Can you better meet customer needs by offsetting gaps in or
            enhancing your offering? Or, do you simply need more arms and legs to tap into market
            demands?

        3. What does your ideal partner look like?  In what complementary or competitive applications
            and technologies do they specialize?  Are they regional or worldwide?  What does the ideal    
            partner’s business and profit model look like?  Who is the target customer and does that
            customer map to the profile of your target customer?  If your prospective partner is selling to
            large enterprises and your technology is designed for mid-market, that partnership won’t add
            much to your business. (And much like that last date, you’d be wasting your time trying to
            change who they really are.)

Understanding your customers’ needs, your own business requirements and how your ideal partner will help to bridge the gap – before you engage – will help focus your investment, and minimize the time and money spent on bad dates.

May all your partnering initiatives keep you Ahead of the Curve!