Networks and ecosystems are crucial for innovation and economic growth in our digital world.
My book, “Today’s Superpower: Building Networks,” explores this shift towards a connected world where teamwork in ecosystems helps shape businesses and society. By 2030, a quarter of the total economy could be network-based, with possible global revenues of $70 trillion. This huge increase shows how important it is for people and organizations to use networks.
Last week, someone said to me, “I can’t talk to 20 people one-on-one; it’s too much,” and I agree. Communication within a company is hard, and it’s even harder in an ecosystem. This graph on the left highlight that we need to prepare for this change.
Email won’t be enough; we need to start accepting that we need tools. We need them to automate our day-to-day tasks to focus on strategic projects. Share important information quickly with everyone involved and encourage innovation and customer-focused design.
In Germany; there is a growing mouvement of an innovation model which we call: “Venture Clienting” (>> see blog post here << ), that model is basically very simple. Corporates establish a process to purchase startup solutions; and implement it inside their corporatation. Initially; it’s about testing the solution via a PoC, and then it’s about a large commercial agreement is the solution goes well. For this model; we also need tools!
Here’s a summary of the tools from the “Impact of Venture Clienting 2023” report:
- 🏁 Starter Units (49%): At first, these teams can handle a few Proof of Concepts (PoCs) using basic methods. But as more projects start, they need specific tools to stay efficient.
- 📈 Growing Units (24%): These teams start with basic tools for tasks and PoCs. As they handle more projects, they move to specialized tools to improve project management, stakeholder engagement, and team collaboration.
- 🏆 Pro Units (27%): For teams handling 25+ projects, basic tools don’t cut it. They need specific innovation software, especially Venture Clienting software, to manage the complexity of at least 100 challenges.
These tools help corporations and startups work together more efficiently and effectively.
In a nutshell; everyone has to start getting familiar with the following tools:
Key Tools for the Ecosystem Economy:
🛠 CRM Platforms: For a complete view of customer interactions.
💬 Communication Software: Improve internal and partner coordination.
📊 Analytics Tools: Personalize offerings based on consumer behavior insights.
Venture Clienting is one form of innovation that enables a network ecocomy; but more tools are needed one partnerships are launched.
Then comes the Partner Relationship Management softwares
What is Partner Relationship Management (PRM)?
“Partner relationship management is a business growth tactic where companies team up with strategic partners that share a mutual audience, then track sales and affiliate outcomes from cross-promotional efforts. “
In the Partnership Leaders Community (click here), members prefer the platfrom https://www.crossbeam.com/ to track co-sales and more.
As we deal with the ecosystem economy, tools become more and more important for managing networks. The “Impact of Venture Clienting 2023” report shows how venture client units have evolved and how important specialized tools are for managing and growing innovation. These tools – from CRM platforms to analytics – are key for corporations and startups to work together efficiently and effectively. PRMs are another type of tool to implement once a partnership is launched.
They automate everyday tasks, make communication easier, encourage innovation, and track the most important KPI for corporations: Revenues. , which is key for dealing with quick changes in the market and society.
Is our workforce ready?
Source:
https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/growth-and-resilience-through-ecosystem-building
https://www.mckinsey.com/capabilities/mckinsey-design/our-insights/a-design-led-approach-to-embracing-an-ecosystem-strategy
https://www.impactofventureclienting.com/
https://www.youtube.com/watch?v=ycm7n53OZaw
https://blog.hubspot.com/sales/partner-relationship-management
