AchieveUnite recently hosted an intimate gathering of channel leaders around the New Era of Partnering. We heard insights on the forces affecting our ever-evolving channel partner ecosystem and left with impactful best practices to help business leaders build partner-centric cultures and lead with trust, inclusivity, and openness.
Here are five forces to help every leader and organization create and sustain partnering success in today’s complex landscape:
1. Partner ecosystems are no longer just a nice-to-have. No matter how big or small, every company needs a partner ecosystem. Partnering is a competency that every individual and company must master. Healthy partnerships come in many forms, including vendor partners, supplier partners, influence partners, etc., and provide exponential value to customers, partners, and vendors. Explore the components of a healthy channel partner ecosystem in my article on Forbes.
2. Co-investment leads to long-term success. As the power equation shifts from vendor-led to partner-led channels, co-investment is a driving force behind all successful partnerships. Co-investment is about aligning with key decision-makers and influencers in your partner companies and creating a unique joint value proposition that builds trust and drives mutual success. We must become trusted advisors that help our partners navigate the complexity of the tech industry and mutually support and empower each other to deliver a powerful customer experience that drives mutual growth.
3. Inclusive leadership is the norm. Inclusive organizations are 70% more likely to win new markets than their competitors, yet only 5% of global leaders are considered inclusive. With five generations in the workforce, developing a culture of inclusivity where all voices are heard and empowered is essential and leads to increased innovation, higher profitability, and greater success as a company.
As we take steps toward inclusivity, it can be difficult to know where and how to begin. Check out this Channel Chats podcast with AchieveUnite DEI experts Cheryl Shapero and Jackie Scott for five best practices to help you build inclusivity in your organization.
4. Your people are your greatest asset. According to Gallup’s 2022 poll of employees, 32% are not actively engaged in their roles. The Great Resignation and Quiet Quitting are prompting organizations to reconsider how they support and develop their people. Organizations that invest in their people early on through leadership and skills development programs, such as ACE: Leadership by Influence and the Channel Acceleration Bootcamp, see increased performance, engagement, and retention rates.
5. Mutual trust. Back in 2017, I published the Five Forces Affecting the 2017 Channel, and the fifth force at the time was Mutual Trust. Flash forward five years, and trust remains one of the most critical elements impacting today’s partnering environment. People at high-trust companies report lower stress levels, a 50% increase in productivity, and a 106% increase in energy levels at work; yet, 46% of leaders don’t know how trust is built, managed, lost, or repaired.
Partnering with researchers at The University of Notre Dame and Arizona State University, AchieveUnite recently completed the first-of-its-kind, academically verified research around the science of partnering trust and has identified the personality dimensions necessary to effectively partner and form trusting relationships in our modern world, known as the Partnering Quotient Index or PQi®.
PQi empowers individuals with an understanding of their ability to form trusting partnerships and gives companies the insight needed to build a culture of trust internally and externally.
Are you ready to build trusting partnerships that deliver long-term value? Reach out to us to learn more about PQi.
