Don’t Let Competitors Outshine You: Build Strong Partnerships

Name: Don’t Let Competitors Outshine You: Build Strong Partnerships
Uploaded: 2024-12-25T13:09:49+00:00
Duration: 1 min 3 s
Channel: Jason M. Lemkin
Description: In this segment, Jason M. Lemkin warns founders that while they often succeed at initiating partner relationships—meeting contacts like Andrew from…

25 Dec 2024 · 1 min

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In this segment, Jason M. Lemkin warns founders that while they often succeed at initiating partner relationships—meeting contacts like Andrew from Klaviyo or Renee from Bill and building early integrations—they frequently fail to sustain those partnerships. He explains that competitors can quickly outmaneuver them by dedicating significant resources (e.g., a team working 120 hours a week) and nurturing the relationship with small, consistent gestures such as bringing cookies to the office and getting to know enablement and customer‑success teams. Lemkin stresses that founders must allocate a dedicated, multi‑person effort to partner channels, otherwise they risk being “boxed out” despite initial goodwill.

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And the biggest mistake, and I made it too, the biggest mistake many of you will make, especially if you're passionate and have some chutzpah and get out there, is it's really just, you will build those relationships. You will meet Andrew from Klaviyo or Renee from Bill, and you will, you will get to know them and you will build this relationship and you will open the door and you'll build the integration and you'll get something going. And then you'll move on to the next thing. And it starts off great and it's great, but then your other competitor comes in and puts 4 resources on it. And brings cookies to the office and gets to know everyone in the enablement organization and gets to know everyone in the customer success organization. And even though you had, even though Andrew likes you and Rene knew you, you get boxed out. You get boxed out. So the number one mistake I see with founders don't do this partner channel thing. They wait too long, they screwed up. And, but they're okay at initiating these business development partnerships, but they don't have anyone working 120 hours a week on it. 3 people, 120 hours a week. And the folks that do just fox you out. It's so dumb, but they bring cookies. Okay. They bring cookies.