Strategies for Partnering with Startups

Too many health plans treat startup partnerships like they’re buying office printers. Submit an RFP. Check compliance boxes. Negotiate a discount. Move on. But here’s the reality: Startups aren’t vendors. They’re ventures in motion. Having sat on both sides – as a health plan executive evaluating startups and as a startup leader partnering with health plans, I’ve seen this pattern play out again and again. The plans that create 𝘳𝘦𝘢𝘭 value from startup partnerships think differently. That starts with having a clearly identified problem or strategy that they can’t address on their own. Once they understand what they’re trying to accomplish: They don’t evaluate startups like finished products. They engage them like early-stage collaborators, shaping the solution together. When both sides can leverage the unique value they bring to the table, 1+1=3 is not only possible, but should be expected. Think of it like co-piloting a test flight. • Startups bring the experimental engine. • Health plans bring the altitude, data, and operational gravity. • Together, if aligned, they can course-correct in real time and build something that doesn’t just get off the ground, but actually flies. But that only works when: → You stop expecting plug-and-play perfection. → You co-design with shared goals in mind. → You commit to the long game, not a transactional trial. The health plans that do this well don’t just find the next shiny solution. They help 𝘣𝘶𝘪𝘭𝘥 it, and lock in competitive advantage as a result. 👉 If this was helpful, here’s more. I’ve put together two practical resources you can use right away: 1. 𝟱-𝗦𝘁𝗲𝗽 𝗣𝗹𝗮𝘆𝗯𝗼𝗼𝗸 𝗙𝗿𝗼𝗺 $𝟭𝗕 𝗶𝗻 𝗠𝗲𝗱𝗶𝗰𝗮𝗹 𝗖𝗼𝘀𝘁 𝗦𝗮𝘃𝗶𝗻𝗴𝘀 How to unlock millions in sustainable savings without tradeoffs, so you can cut costs w/o cutting care. Continue here: https://lnkd.in/gZFcct5s 2. 𝗩𝗕𝗖, 𝗗𝗼𝗻𝗲 𝗥𝗶𝗴𝗵𝘁: 𝗔 𝗕𝗹𝘂𝗲𝗽𝗿𝗶𝗻𝘁 𝗳𝗼𝗿 𝗟𝗲𝗮𝗱𝗲𝗿𝘀 𝗪𝗵𝗼 𝗪𝗮𝗻𝘁 𝗥𝗲𝘀𝘂𝗹𝘁𝘀, 𝗙𝗔𝗦𝗧. A practical blueprint to deploy VBC at scale, delivering measurable impact quarter after quarter. Continue here: https://lnkd.in/gZhG5vFX

The Power of Partnerships: Building Connections That Drive Startup Success 🤝 Hi everyone! Ankita here, excited to discuss how strategic partnerships can unlock incredible opportunities for startups. In today’s competitive environment, the right collaborations aren’t just helpful—they’re essential for scaling, innovating, and making an impact. Why Partnerships Are a Game-Changer With the right strategies, partnerships can transform the way startups grow, adapt, and thrive. Let’s dive into how startups can leverage meaningful collaborations: 🌟 Breaking Into New Markets Strategic partnerships help startups navigate unfamiliar markets faster and more effectively. Tip: Work with local businesses or organizations with established networks to gain market-specific insights and reduce entry barriers. 🌟 Innovating Through Collaboration Collaborating with complementary startups or established players can spark creative solutions and refine ideas. Tip: Pilot projects are a great way to test co-created innovations before scaling up. 🌟 Learning and Scaling with Mentors Partnerships with industry veterans or advisors bring invaluable expertise and open up new avenues for growth. Tip: Align with mentors who understand your vision and can provide guidance rooted in experience. 🌟 Enhancing Customer Experience Joint ventures with companies offering complementary services can elevate the overall customer journey. Tip: Co-develop solutions that add value for customers, creating a seamless experience. 🌟 Boosting Brand Visibility Collaborations with trusted brands amplify credibility and broaden reach. Tip: Explore co-marketing campaigns or events that position your startup alongside a respected name in your field. 🌟 Streamlining Operations Sharing resources like infrastructure or technology with partners can reduce costs while maintaining quality. Tip: Identify shared goals where combining efforts enhances efficiency for all parties involved. 🌟 Driving Social Impact Collaborating with mission-aligned organizations enables startups to amplify their contributions to societal challenges. Tip: Focus on partnerships that balance purpose and profit to create lasting impact. Moving Forward Together Startups grow stronger through collaboration. By building meaningful partnerships, we can share resources, exchange ideas, and collectively create more value. A well-planned partnership strategy isn’t just an advantage—it’s a catalyst for growth. 💬 What partnerships have shaped your startup journey? Let’s share ideas and learn from one another! #StartupGrowth #PartnershipsMatter #Collaboration #SharedSuccess #StartupStrategy

I built 4 startup partnership programs that drove over $30M in ARR. The secret to our success was ruthless focus on our Ideal Partner Profile (IPP). Here's how you find yours: As a Partnerships Leader, you never have enough time or resources. This means you need to focus your limited bandwidth on the right partners. You start by mapping your customer’s needs and value ecosystem. Then you decide which types of partnerships work best for your business. To do this, you need to answer two questions internally: 1. What are your core (board level) goals for Partnerships? Some examples are: - Create External Sales Channels - Product Implementation / Management - Lower Acquisition Costs (CAC) - Referral Revenue - Retention (LTV) - Enter a New Market - Fill Product Gaps - Market Exposure 2. What do you bring to the table for partners? Some examples are: - Revenue Share (Affiliate, Referral or Resell) - Implementation Revenue - Onboarding / Customization Revenue - Management Revenue - Customer Base - Product Capabilities - Brand & Audience - Marketing Engine/Dollars You then use the answers to develop your *initial* partner profiling criteria. This will help you select the types of partners who can help you achieve your goals AND value what you bring to the table. Then you create a list of questions to qualify *specific* partner prospects. Questions like: - What is their impact on our customers? - Do they work with our Ideal Customer (ICP)? - Do they work with our target stakeholders? - Do they have sufficiently strong relationships to make influential recommendations? - Are they willing AND able to make those recommendations? - Do they have a track record of doing this with other partners? From here you’re ready to run experiments with different types of partners. Measure the results of these experiments and iterate. Cut what’s not working and double down on what is. The faster you nail this down, the faster you find your Ideal Partner Profile. Imagine if all of your time was spent on the right partnerships… This is how you do it. Make it happen. P.S. If you want my free 56-page how-to guide on building partnership programs from $0-$30M, Like this post and Comment GUIDE below.