The 4 Key Tenets of Every Successful Partnership

The saying “your network is everything” has never rang truer than over the past year and a half. Building relationships and partnerships has been the key to many businesses’ survival during the pandemic, and even outside of the everyday challenges faced in this current economic climate, partnerships are hard work.

Healthy business partnerships are a lot like marriages. From my more than two decades at the intersection of fintech and software industries, leading global business development and strategic partnerships, I’ve learned that there are four essential ingredients to creating the perfect union.

1. Transparency

Radical candor seems to be the new language companies are speaking these days. Although you may be comfortable being direct with your colleagues or teammates, should you be with partners? Absolutely.

It pays to speak the truth, honestly and without varnish. An example of this in action was when my team at negotiated a brand new deal with a major Fortune 100 financial partner. Our original agreement was to build a solution that they would put on their platform — giving us access to a large market and providing them with a tool to better serve their clients. The plan was put into action, but a few weeks into the initial design phase, we realized that what we were building was not the right fit for the partner’s customers. So, we went back and proposed building something even bigger and better — and yes, a bit costlier.

I had the tough task of talking to our client, and I said, “I know what you bought. I know what you want to implement. But I don’t believe that’s the right product for your customers. We have a whole new idea. Are you willing to go down a path where we design a brand-new purpose-built product for your customers?”

As you can imagine, it was a difficult conversation, and the partner was understandably upset. They first suspected us of pulling a bait-and-switch — of hooking them with one project and then selling them something else. We explained to them that the process of going down one road had helped us understand what their customers really needed versus what they thought they wanted. This gave us the additional credibility to move forward with the redesigned product, which was not only successful, but put them at a significant competitive advantage.

2. Trust

Trust is the cornerstone of every enduring partnership and the currency in which you trade goods and services. “Do what you say, say what you do” is easy in theory but harder to execute.

An example of this comes from my time at PayPal when we were building a close relationship with one of our significant network partners. Our businesses were highly complementary, and our goals were aligned in the sense that each other’s network could open up new, financially rewarding opportunities for us. When we came together to enact our first big deal, it was tremendously complex and entailed not only building authentication and trust with our partner, but also with their downstream partners.

Our partner trusted us to treat their partners with the same respect, reverence and standards to which we held our own relationship. This trust was not only earned, but also kept throughout the course of the relationship and led us to working together to land multiple more product deals, resulting in one of the most beneficial partnerships for the company.

Your reputation and references help get you in the door, but it’s trust that creates a long-lasting relationship. 

3. Mutual benefit

 “Is the partner happy?” This question from the CEO of PayPal in response to me providing an update on results with one of our key partners changed the way that I do business today. Ultimately, reframing your perspective to ensure that you are looking at every business partnership through the lens of “If your partner isn’t successful, you aren’t successful” will pay dividends in the future.

Setting mutually beneficial goals and a clear roadmap to what success looks like for you both will help establish a strong foundation, but it’s regular check-ins and, if necessary, recalibrations that will test the strength of the partnership foundation over time. 

Asking certain questions will help level set these conversations. What is the vision of this partnership? Does the original foundation still hold true? Why are we working together? What are we trying to accomplish? Do we see the world the same? Do we have the same empathy for similar types of customers?  

I’ve never forgotten my prior CEO’s question. So now, when I report to my fellow C-suite executives and to our board of directors on how our partnership ecosystem is doing, I ensure that mutually beneficial goals are threaded throughout every single update. 

4. Shared vision

 Over the course of my career, I’ve found that many companies and executives use the term “partnership” loosely. I’ve learned that the true definition of partnership lies at the North Star shared vision for the market, customer segmentation, problem you’re solving for and the technologies or solutions to address it. 

When began conversations with a leading financial institution around a new partnership, we first started at the white board looking at ways we could collectively solve for SMBs’ current and future liquidity needs. Then, we moved onto how our collective teams (product, risk, compliance, go-to-market and more) could support this much-deserving customer segment to better manage their cash flows. In creating a shared vision for the future, we’ve created a solid bedrock for a partnership that will ultimately enable SMBs to focus more time on growing their businesses and less time on back-office financial operations.

Partnerships don’t sustain themselves. They are a living, breathing entity, which is why it is imperative to continually invest in the growth and, ultimately, the profitability for each side. These four partnership tenets have served as a directional roadmap to successful partnerships over the course of my 20-year career, and I hope they will serve as a guiding light for yours as well. 

News Related


Mid-Cap ETFs Looking Good Amid Market Uncertainties

– Zacks Wall Street has surprised with rallies despite rising Delta variant cases. Investors are however on the edge considering certain factors that might impact the current investing environment. Factors ... Read more »

Agritech Startup BharatAgri Raises $6.5 Mn Series A Round Led By Omnivore

Bengaluru-based digital farm advisory startup BharatAgri announced on Thursday that it has raised $6.5 million in a Series A round led by Omnivore, with participation from existing investors India Quotient ... Read more »

eShipz Raises $700,000 Funding Round Led By IAN

eShipz—a Bengaluru-based software-as-a-service (SaaS)-based startup offering shipping automation to SMBs and large enterprises—recently received $700,000 in a funding round led by Indian Angel Network (IAN). The round saw participation from ... Read more »

3 Semiconductor Stocks That Are Restructuring the Supply Chain

The global chip shortage remains one of the biggest stories in the investment community. By now, the reasons for the shortage are well documented. The unanswered question at the moment is when ... Read more »

apna Turns Unicorn; Secures $100 Mn Series C Funding Led By Tiger Global At $1.1 Bn Valuation

Jobs platform and professional network for the rising workforce apna, on Thursday, announced to have secured about $100 million in Series C funding led by Tiger Global. The round also ... Read more »

Ayu Health Raises $6.3 Mn Series AFrom Vertex Ventures And Stellaris Venture Partners

Ayu Health—a healthtech startup with a network of hospitals providing high-quality, affordable healthcare—on Thursday announced that it has raised $6.3 million in Series A financing from Vertex Ventures and Stellaris ... Read more »

D2C Online Brand Flatheads Raises $1 Mn Pre-Series A From We Founder Circle, Dexter Angels And Others

Bengaluru-based direct-to-consumer (D2C) online brand Flatheads, on Thursday, announced that it raised $1 million in pre-Series A round from We Founder Circle (WFC), Dexter Angels, and others. The funding round ... Read more »

Small Building Supply Companies Notch Big Gains Amid Construction Boom

TopBuild Corp (NYSE: BLD) is among the leaders in the building supply industry, as demand from new construction and remodeling projects remains strong. contributor/ – MarketBeat TopBuild broke out ... Read more »

3 Stocks to Buy on Recent or Expected Dividend Hikes

Dividend stocks should hold a place in every investor’s portfolio. Even if you don’t intend to use the dividend payout as regular income, the ability to reinvest dividends is like ... Read more »

IppoPay Raises Pre-Seed Funding From Better Capital And Others

‘Brex for Bharat’ startup IppoPay on Thursday announced to have raised an undisclosed amount of pre-Seed funding from an early-stage investor, Better Capital, along with Prabhu Rangarajan, co-founder, M2P, and ... Read more »

6 Retirement-Ready Mistakes 60-Year-Olds Commonly Make

Heading into job sunset soon? Whether you’ve been planning your exit from the workforce for decades or decided on a whim that you’d be ready to rush toward the door ... Read more »

FedEx (FDX) to Report Q1 Earnings: What's in the Offing?

FedEx Corporation FDX is set to release first-quarter fiscal 2022 (ended Aug 31, 2021) results on Sep 21, after market close. – Zacks The Zacks Consensus Estimate for earnings in ... Read more »

How the E-learning Industry Is Evolving Thanks To Blockchain Technology

The Studyum community has been mushrooming all over the industries. An edtech platform on the blockchain, Studyum is a unique blend of technology and systematic instruction. With the number of ... Read more »

Apple Watch Series 7 come with a 20% larger screen

This Tuesday, September 14, Apple held an event where it presented its line of products for the end of the year. Apple Among the most prominent launches was the Apple ... Read more »

Steve Wozniak, Co-Founder of Apple, Announces His Own Aerospace Company With Enigmatic Video

Apple co-founder Steve Wozniak has just announced his new project: the creation of his own aerospace company called Privateer Space. Although he did not clearly spell out his goals, there is ... Read more »

How NFTs Could Change Real Estate

The world of property is changing fast, and it is important to stay up to date on all the innovations in the space. The blockchain and cryptocurrency realm is slowly changing the ... Read more »

SEC Chairman Lays Out Crypto Market Agenda in Senate Testimony

U.S. SEC Chairman Gary Gensler spoke to a Senate Committee about the U.S. markets and listed several areas of focus with respect to the crypto markets. – be[IN]crypto United States ... Read more »

What is Google Page Experience, and Why Does it Matter?

Have you heard of Google Page Experience? If you haven’t, and you prioritize search engine optimization (SEO) as a strategy to support your business, you’re behind the times. Google’s Page ... Read more »

The Case for Transparent AI

I can’t go on Facebook without seeing magicians. I can trace it back to when I watched a video of America’s Got Talent. It started with singers, but soon it ... Read more »

Fidelity Makes Case for Bitcoin ETF With SEC

In a recent presentation for the Securities and Exchange Commission (SEC), Fidelity Investments argued the merits of approving its Bitcoin exchange-traded fund (ETF). – be[IN]crypto According to filings from the ... Read more »

How to recognize a fraud of an app that lends money?

They will say that it is clickbait but it is real: Currently there is a type of credit (called liquidity), offered by the internet and applications downloaded to the cell ... Read more »

This biohacker is the real-life 'Nebula': she has more than 50 chips in her body and identifies as a cyborg

If you are a fan of the Marvel universe, you surely know Nebula , Gamora’s blue sister, both adoptive daughters of Thanos. The rival of The Avengers made a series ... Read more »

Windows 11 will not be compatible with Apple's new M1 chip, Microsoft confirms

In the framework of the Apple Event , Microsoft confirmed that Apple’s M1 chip “is not a compatible scenario” for Windows 11 , as reported by The Register . Mia ... Read more »

Learn How Machine Learning Can Help Your Business

The business world is changing all of the time and smart entrepreneurs are always looking for a way to gain an advantage over the competition. One area you may not ... Read more »

Rozy, the virtual influencer who seeks to make millionaire profits

@Rozy.gram, Instagram Read more »

Crypto Execs Should Cooperate With Regulators, Says SALT Panel

Cryptocurrency executives ought to work with regulators to facilitate wider acceptance, according to members of a digital currency panel at Wall Street’s SALT conference. – be[IN]crypto The panel included Canadian ... Read more »

Pfizer Says COVID-19 Vaccine Efficacy Weakens Over Time

Pfizer said that data from Israel and the United States suggests that its COVID-19 vaccine efficacy drops over time and claimed that booster doses are effective at dealing with new virus variants. Federal health ... Read more »

With This App, A Healthy Lifestyle Is Just One Click Away

Amid this pandemic, there has been a lot of change in our lifestyle, from our eating habits to the way we are perceiving things. We have been doing everything with ... Read more »

Taco Bell is Rolling Out A Subscription Service That Will Give Fans a Taco a Day

A taco a day probably keeps something away, but for fans of beloved fast-food chain Taco Bell, it will only keep customers coming back for more. SOPA Images | Getty ... Read more »

Starbucks and Other Businesses Near Disney World Reportedly Sell for Higher Prices

The Orlando Business Journal reported this week that Starbucks locations in Central Florida usually sell for about $3 million, but ones near the Walt Disney World Resort can sell for ... Read more »

This Is Probably the First All-in-one Finance and Wellbeing Platform

There were many peaks and valleys in KashAmini’s life. At an early age, he came to realize that hard work and discipline were the keys to achieve any goal and ... Read more »

Reshaping the World Of Gaming Kingdom, Your Go To Place For Entertainment

When the COVID-19 pandemic was on the rise, the gaming industry was also making its kingdom discovered. In nanoseconds, the gaming industry exploded in popularity familiarising millennials with another secret ... Read more »

This Young Gun Can Be an Inspiration For Many

Success is a spectacular feeling which cannot be defined but only perceived. With innumerable ways to walk on the path of success, nothing in the world can guarantee you the ... Read more »

A Visionary Doctor Explains How Novel Technology Is Changing Advanced Manufacturing

Technology is changing rapidly. The limits of what was believed to be possible are constantly being shattered. IoT, smart technology, AI, AR/VR, and more are all transforming industries across the ... Read more »

The Engineers' Era

“My husband is from IIT-Delhi, my brother-in-law is also from IIT-Kanpur and everyone in my family is an engineer, including me. However, my son has scored 7 out of 10 ... Read more »

Want Tasteful Lingerie? Here's Where To Get It From

It has been said that lingerie is the maximum expression of a woman’s femininity. But these days, it seems that lingerie is more promiscuous than it is classy and tasteful. ... Read more »

A Breakthrough Innovation In Women's Innerwear

A proper-fitting bra can help a woman feel more confident. Additionally, it can help reduce breast sagging and other health issues. Research has shown that the majority of women are ... Read more »

Household Income of Americans Fell in 2020 for First Time Since 2011: Census Bureau

The household income of Americans fell last year as COVID-19-related lockdowns wrought havoc on the economy, according to new figures from the Census Bureau. The median household income was $67,521 in 2020, ... Read more »

E-mobility And Batterytech Startup Sheru Raises Pre-Series A From Venture Catalysts And Others

E-mobility technology startup Sheru, on Wednesday, announced to have raised an undisclosed Pre-Series A round led by early-stage investor Venture Catalysts (Vcats).  The round also saw participation from e-mobility-focused investors including ... Read more »

Gaming Platform Quizbee Raises Funds From Kanodia Group

Online gaming startup Quizbee on Wednesday announced that it has raised an undisclosed amount of funds through pre-Seed funding led by Kanodia Group. Quizbee Quizbee, a new entry in the ... Read more »