Strategic partnership playbook

Creating a hopes, expectations, and concerns document to propel growth

Author

Michael Morgenstern
November 26, 2024

Happy Tuesday Brex community,

Strategic partnerships are collaborative alliances where organizations combine resources, expertise, and market access to achieve goals that would be challenging independently. They go beyond simple transactions, fostering long-term relationships that share risks and rewards to create greater value.

Strategic partnerships can be a massive GTM unlock for startups. Strategic partnerships demand not just early alignment but a shared vision of the market's future. Kick off the collaboration by co-creating a Hopes, Expectations, and Concerns document—three bullet points each—to surface motivations and potential friction points. In the second meeting, dissect each bullet to ensure deep mutual understanding. Develop bull, base, and bear scenarios to prepare for market volatility and align strategic responses. If after the second meeting, there isn’t alignment, move on.

Once the partnership is activated, hold bimonthly progress reviews to maintain momentum and adapt as needed. Remember, even competitors can become valuable partners when mutual benefits outweigh rivalry—a concept known as "coopetition" that can unlock new opportunities. Embrace co-selling, reselling, referrals, and partner marketing as powerful catalysts in scaling from zero to one.

Growing together, Michael Morgenstern

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