When you're betting the farm on a growth strategy, trusting strategic partners is paramount. But how can you tell? Here are important questions to measure the level and direction of your commitments.
A channel partner should be able to trust what their counterpart says they will do in a market. Right down to the accounts they will pursue together to grow the business. A distributor should also be able to trust that a supplier will follow up on what they promise in terms of service requirements, people support and price level support, among others.
A manufacturer should be able to trust that a distributor will make its best efforts for inventory support, location coverage, salesperson coverage, ...
Executive summary: In business, we are dependent on the "waves" if we depend only on the economy, or the health of a single market segment like the languishing industrial market. Like expectant surfers, most businesses are reactive. They stick to a couple of beaches, and hope for the best. But, if the waves aren't coming to us, we've got to be more focused and productive at spotting and developing them.
No More "Endless Summer"
Some of you may remember the movie The Endless Summer, which featured surfers that traveled the globe following the best surfing conditions. Whether you remember or not, there's a point to be made.
Are we like disappointed surfers?
When the surfers in the movie got to their destinations, the waves weren't ...