Joshua Feinberg discusses the challenges and metrics for aligning with other organizations for collaboration.
He emphasizes that early-stage companies without product-market fit or established sales processes struggle with revenue-based collaborations.
Due to the power imbalance, he advises against partnering with much larger companies dnd suggests focusing on non-competitive, similarly sized partners.
Effective collaboration strategies include hosting events, guest blogging, and co-hosting webinars.
Feinberg emphasizes the importance of building trust and mutual benefit in partnerships. While these activities can generate opportunities, immediate ROI should not be the primary focus.
This video is excerpted from the podcast Ep. #59 Joshua Feinberg, CEO of DCSMI | Data Center Go-to-Market Podcast.
Action Items
- Explore opportunities to co-host events like breakfast seminars or lunch and learns with non-competing partners in the local area.
- Consider inviting a local accounting firm specializing in cybersecurity compliance to co-host an event on choosing the right colocation provider.
- Investigate possibilities for guest posting on each other's blogs or appearing as guests on each other's podcasts with potential collaboration partners.
- Focus on building trust and mutual benefit rather than overly concerned with immediate metrics or ROI.
Outline
Collaboration Metrics and Early-Stage Companies
- Joshua Feinberg discusses the challenges of aligning with early-stage companies requiring commission-only sales team support.
- He emphasizes the difficulty of collaborating with early-stage companies due to resource gaps and the lack of product-market fit.
- Joshua emphasizes the importance of clearly understanding ideal clients, product offerings, price points, and unit economics when collaborating on revenue-based projects.
- He points out the challenges of starting a channel partner program without an internal sales team or marketing capabilities.
Challenges with Channel Partner Programs
- Joshua explains the difficulties of finding successful channel partners if the company hasn't established its own sales and marketing processes.
- He mentions that integrators, consultancies, and CPA firms will not work as extensively for your company as an internal hire would.
- Joshua suggests that light collaborations, such as co-hosting live streams, podcast interviews, or guest blogging, are more feasible.
- He notes the challenges of collaborating with much larger companies due to the significant power imbalance.
Advice for Collaboration and Partnerships
- Joshua advises looking for non-competitive companies to collaborate with to avoid paranoia and competition.
- He emphasizes the importance of partnering with companies of similar size to avoid power imbalances.
- Joshua suggests that early-stage companies should focus on building good relationships and starting with simple collaborations.
- He recommends hosting breakfast seminars or lunch and learns in your facility to generate qualified sales opportunities and build trust.
Building Trust and Collaboration Strategies
- Joshua highlights the low cost and high impact of hosting events in your own facility for building trust and generating sales opportunities.
- He suggests inviting non-competing potential partners to co-host events, such as discussing cybersecurity best practices.
- Joshua mentions various collaboration strategies like guest posting, co-hosting webinars, and having a podcast where you invite each other regularly.
- He warns that while these strategies can be beneficial, they may not always provide immediate metrics or ROI.
Importance of Trust in Partnerships
- Joshua stresses the need to trust your partners as much as you trust your prospects and clients.
- He explains that no amount of rules and expectations can substitute for a great working relationship based on mutual benefit.
- Joshua advises focusing on building strong relationships and seeing mutual benefits in partnerships.
- He concludes by emphasizing the importance of trust in achieving successful collaborations and partnerships.
Resources
Watch the full podcast Ep. #59 Joshua Feinberg, CEO of DCSMI | Data Center Go-to-Market Podcast
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