1 Identify your target markets

Before you can engage with potential partners, you need to know who they are and what they need. You can use market research, customer feedback, industry trends, and competitive analysis to identify the most promising markets for your products or services. You should also consider the cultural, legal, and regulatory factors that might affect your entry and operations.

2 Define your value proposition

Once you have a clear picture of your target markets, you need to articulate your value proposition, which is the unique benefit that you offer to your partners and customers. Your value proposition should address the specific pain points, needs, and goals of your target segments, and highlight how you can help them achieve better outcomes. You should also communicate how your value proposition aligns with your partners' values and missions.

3 Select your partner types

Depending on your objectives, you may want to work with different types of partners, such as distributors, resellers, agents, consultants, or influencers. Each partner type has its own advantages and disadvantages, and requires a different level of engagement and support. You should select the partner types that best suit your business model, market strategy, and value proposition, and that can help you reach and serve your target customers.

4 Establish your partner criteria

To ensure that you work with the right partners, you need to define your partner criteria, which are the standards and expectations that you have for your potential collaborators. Your partner criteria should reflect your vision, mission, and values, as well as your operational, financial, and ethical requirements. You should also consider the partner's capabilities, reputation, network, and fit with your culture and brand.

6 Execute and optimize your partner engagement

The final step is to execute and optimize your partner engagement, which means putting your plan into action and adapting it as needed. You should communicate regularly with your partners, provide them with the necessary resources and guidance, and recognize and reward their achievements. You should also collect and analyze data on your partner engagement, and use it to identify and address any issues or opportunities for improvement.

By using your partner engagement model to expand into new markets, you can leverage the power of collaboration, increase your reach and impact, and create long-term value for your business and your partners.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?