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What to Beware when Choosing a Referral Partner

As in the whole world of business, there are a few simple rules which apply to enticing new channel partners:

  1. Before considering anybody as your partner, assess them first – find out who they are, what their connections are, what is their reputation etc. There is nothing worse than discovering that your partner is not a serious player just after you have signed a contract with them.
  2. Always aim to create a win-win-win situation – all parties must gain from cooperation – that’s yourself, your partner, and most importantly, your shared customers.
  3. When approaching a prospect partner, think what really matters to them, and how you could introduce your cooperation in a way that will enable them see the benefits of working with you.
  4. When applicable, sign a contract with your partner before the start of your cooperation, so that it is clear for both parties where are responsibilities of each of you.

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