The next step is to agree on who does what, when and how. The Partnership Development tools help you develop an operational plan with milestones and targets.
"Sometimes the small things stand in the way of good collaboration. The communication channels are very unclear between me and my partner. I don’t know who in the organization to contact when I have a good business lead."
– Egyptian Distributer
It might look nice to be represented by a broad partner network across the world, but if many local partners are not performing well energy might be spent better by focusing on working closely with fewer partners and really penetrating their markets. The partner evaluation tool gives you a vantage point for discussing partner performance every year and considering the best strategy forward. If partners are not performing and you deem the market potential to be high the previous tools can also be used to try to evaluate the market position with your partner.
BUSINESS PLAN
Nordic companies and local partners often have different perceptions of agreements and plans. Defining common goals and activities and revisiting these regularly to adjust and discuss progress can help you avoid disappointment and misunderstandings.
Defining common goals and activities is often the easiest way to align expectations and create a reference for measuring performance. The plan must be flexible and adjusted regularly. Include activities that your company can complete to support your partner such as product training, adjustment of sales material, ongoing dialogue on sales leads, etc. This signals that success is a joint effort.
The Excel file is a starting point. Adjust the activities so they fit your type of business. Make sure your goals are simple and SMART (specific, measurable, attainable, realistic, and timely).
“Egyptians do not like reporting and it is often a requirement from the European partner. Targets are fine, but they are not always taken seriously by the distributors. The market is very difficult to estimate as it is more dynamic, so some flexibility is key.“
– Egyptian distributor
Download Business Plan tool template
Download Business Plan tool tool example
PARTNER MONITORING AND ASSESSMENT
How do you ensure that you have the best partner on the selected market? The Partner Monitoring tool helps you create the foundation for an annual evaluation of your local partner.
Monitoring and evaluating your local partners is key to ensuring that market performance is good enough—and that relevant actions are taken if this is not the case.
The Partner Evaluation tool evaluates your partner’s performance against market attractiveness. The idea is to give your company a qualified foundation for discussing whether it is allocating its resources appropriately and whether the chosen entry mode is correct.
The Partner Evaluation tool visualizes development in your partner’s market position annually for internal assessment. Furthermore, using the tool lets you have a dialogue, focusing on your partner’s development curve and how you can support it.
• Monitor, assess, and evaluate your local partner based on (1) partner performance and (2) market attractiveness
• Use the Partner Evaluation tool to have a focused dialogue with your partner regarding the past year’s performance and setting new goals for the coming year.
• Discuss internally if you are satisfied with the entry mode and performance in each market. Discuss what it will take to grow in the market.
“In Nigeria it is important to have a patient mindset. Poor infrastructure can sometimes make things take a long time. But this is also the cultural excuse for deadlines running late, so showing too much patience can be considered a sign of weakness.“
– Akin Sawyer, Nigerian Investment Promotion Commission
Download Partner Monitoring and Assessment tool template
Download Partner Monitoring and Assessment tool example
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