This past week I worked with a few clients where partnerships sat at the center of every conversation.
One of them was facing a dead end on Amazon a few months ago.
He has a proven product. He had just optimized it with an updated design.
He had real interest from a retailer, which sounded like the break you wait years for, except he didn’t have the capital to fund the inventory that play would require.
So we expanded his thinking.
He decided to focus on generating demand off Amazon instead.
He already had an alliance with a content expert in his field, and rather than build something new, he used the content that already existed.
He went for it. In the past few months he has created more viral videos than I can count.
His sales on social and on his own website grew. His Amazon sales grew right alongside them.
The demand he created off Amazon came back around and lifted what was happening on it.
Now he is taking another big step. He is formalizing the partnership with that content creator.
This is the part most founders rush. The relationship is working, everybody is happy, and it feels awkward to slow down and write anything out.
We chatted briefly over the Labor Day weekend and he shared his deal proposal with me. I gave him a few suggestions.
I also recommended a book called The Partnership Charter by David Gage. It’s my go-to resource for evaluating and setting up partnerships.
It takes the personal and professional dynamics as seriously as the financial ones.
He came back to me last week with a new proposal. The book had really helped.
If you are considering a business partnership, or you find yourself in one that needs more definition, this book will help you too.
If you need to expand your thinking too, we can help.
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As I’m continuing to understand my readers for my new book, would you let me know how your business is set up? |
Quick Summary
- A handshake deal works right up until the moment it doesn’t — formalizing a business partnership protects the relationship, not just the money.
- Off-Amazon demand generation (social content, owned website traffic) can lift Amazon sales rather than compete with them.
- An existing alliance with a content creator or industry partner can be more valuable than building new content from scratch.
- The Partnership Charter by David Gage is a practical resource for putting the personal dynamics of a partnership in writing, not just the financial terms.
- The best time to formalize a business partnership is while it’s working well — not after the first disagreement.
Frequently Asked Questions
Why formalize a business partnership if it’s already working?
A working relationship is exactly when terms are easiest to agree on. Waiting until there’s a disagreement makes the conversation harder and the stakes higher.
What should a business partnership agreement cover beyond the financial split?
Decision-making authority, roles and expectations, what happens if one partner wants to exit, and how disagreements get resolved — the personal and operational dynamics, not just revenue share.
What is The Partnership Charter by David Gage about?
It’s a framework for evaluating and structuring partnerships that treats the interpersonal and professional dynamics with the same rigor as the financial terms.
Can generating demand off Amazon actually help Amazon sales?
Yes. Demand built through social content or an owned website often flows back into Amazon search and conversion, rather than competing with it.
If you’re building a partnership, or thinking through how to formalize one, schedule a discovery call with Your Profit Team.
