@fallow8 Exactly. Frameworks are the “code” for any and all partnerships.
Sorry for the confusion. I didn’t mean to reference any specific partnerships as a starting point. I intended to say we need to go up a level and deal with partnerships as a meta-category, and types of partnerships as sub-categories. Then, Biz Dev simply has to properly categorize a deal in order to retrieve necessary frameworks for action steps.
An efficient and effective way to grow partnerships—as well as avoid countless pitfalls which are costly (eg, time/resources)—requires an off-the-shelf blueprint for each category of partnerships. In crypto land, we might call these legos for composing partnerships.
We do not want each partnership to begin with a tilt toward bespoke. This is a major loss of time and resources. This also increases the risk of important stipulations falling through the cracks in any random deal.
- The goal is to give Biz Dev clear best-practice action steps AND engage a lawyer at the last possible step and for the least complicated possible work (ideally, final draft contract review). Engaging legal prior to this stage will encumber deals and increase costs in time/money at best and ruin deals at worst.
Let me illustrate with an example:
If you begin a negotiation with an advertiser, they will ultimately send over a draft Insertion Order. Although the ads and website are unique to the deal, everything else is generic. Thus, they send a customary boilerplate and simply adjust the key variables: length of order, specific ad campaign, and pricing (CPMs).
The boilerplate handles the rest: each party’s roles and termination.
Without this framework, what can take a couple days and even avoid legal review will turn into weeks or longer and include lots of legal review.
Also, Biz Dev can do many more deals per week/month/year with frameworks. This is commonly under-appreciated leverage for a small organization—especially early in the life cycle. I want to help the Coop fast-forward if possible
- Sorry. I must have misunderstood the BED thread. I saw several members question whether the proper compensation to a media partner was Methodologist rewards (versus the Coop building a similar basic product and paying the partner as a distributor).
Please forgive anything that comes across as verbose. I am trying to over-communicate as I’m new to the group and don’t want to assume levels of experience/expertise.
Thanks for the thoughtful discussion @fallow8 and @gregdocter !!