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Finding Channel Partners is the Way Towards Exponential Growth

Is it me or do partnerships in healthcare seem to be everywhere and in demand?


With innovation being on the brink in healthcare the last several years, one thing has surely taken place: restricted access to the right people.


It’s never been more difficult to talk to “Decision Makers” about your solution, which is why partnerships seem so appealing on the surface.


On the other hand, creating and developing channel partnerships have some major risks associated to them. Not considering these factors can put your company in a very difficult situation, which is why some of these perils must be addressed.


Many partnerships are hastily entered, and some relationships are labeled “partnership” because the concept is popular and marketable. Compared to the alternatives, partnering often sacrifices control for the sake of unique gains.


Selecting a channel partner does not mean that you no longer go about getting customers directly. In fact, relying solely on channel partner is a dangerous spot to be in.


Here are a few questions that I’d like you to consider…

Do they know your product or service as well as you do?

Are they as passionate about your product or service as you?

How many other partnerships do they have in place and where do you line up in the stack?

How much of a priority do they make it to sell on your behalf?


Not having properly aligned partnerships along with weak monitoring, little performance support, and too little accountability on the implementation and service side is a recipe to leave a lot of left a lot of customers angry. And in healthcare, you might only get one opportunity so you want to make the most of it.

Therefore, expecting that a specific channel partnership will be the panacea for your company growth is a mistake.

Build a “Channel Partner Culture”


Always remember that partners are independent and have their own agendas. Also ask yourself how you can build individual relationships with the dealer’s sales team or other employees.

A good approach to better understanding one another is for both companies to develop an internal strategic framework is a strategic framework which may include a vision statement, mission statement, and internal objectives for the potential partnership. Then get together and compare to see if the interest is mutual.


Remember, not all partnership opportunities are worth it, that the “promise” of partner‐ ships is just that—promise or potential


… Partnerships may limit certain risks from “going it alone” but often pose new ones from “going it together.”


It takes work to realize that potential, and we shouldn’t assume that a given partnership might necessarily yield the benefits that look so good on paper.