Today’s guest has run business-altering partnership programs for companies such as Terminus and Drift. Jason Yarborough is the Co-Founder of Arcadia and the Co-Host of the Friends With Benefits podcast. Jason joins Justin Gray and Josh Wagner to discuss aligning leadership teams to empower each partner, the importance of your joint value proposition, and how to identify the red-flags of a bad partnership.
Takeaways:
- Your Joint Value Proposition (JVP) is a “better-together story” that explains to the customer why they should invest in both products. Once you and your partner agree on the JVP, you need to share in the market so that your mutual customers and prospects begin to understand it.
- A strong partnership is a “trust hack”. Consistently creating value leads to building trust with the partner. This trust has a ripple effect, helping to gain the trust of customers and accelerate deal cycles.
Regularly review and present metrics related to partnership success. This data can validate the importance of partnerships to internal stakeholders and provide guidelines for improvement. - A key element for driving alignment between teams is to utilize communication platforms like Slack to maintain regular contact, discuss on-going projects, and share insights among partners.
- Data is instrumental in justifying the partnership’s benefit to the organization. Demonstrating partnerships’ impact on metrics like deal size, deal cycle, and customer retention can gather buy-in from the entire organization.
- Not all partnerships lead to mutual advantage. If the relationship becomes one-sided or if a partner’s expectations drastically shift, it might be time to reevaluate the partnership or potentially walk away.
Quote of the Show:
- “Deal cycles moved about 40% faster when a partner was involved versus when they were not.” – Jason Yarborough
Links:
- LinkedIn: https://www.linkedin.com/in/yarby/
- Friends With Benefits Podcast website: https://www.buzzsprout.com/2176003
Shoutouts:
- Andy Cochran
- Justin Keller
Ways to Tune In:
- Spotify: https://open.spotify.com/show/640HTUKvgi8SNpk7UyDazD
- Apple Podcasts: https://podcasts.apple.com/us/podcast/the-cheat-code/id1692445190
- Amazon Music: https://music.amazon.com/podcasts/cb0b3afa-063f-4f3b-96be-b98214c74912
- YouTube: https://www.youtube.com/@CheatCodePodcast
