Recently, our company has been fortunate enough to strike deals with channel partners that should help us in our quest to become the "Starbucks of Music Lessons". Starting in August, TakeLessons will be giving in-store lessons in conjunction with our partners. The service will provide certified TakeLessons local music instructors to thousands of kids and adults throughout the country. Partners include:
- TakeLessons at Best Buy
- Child Time
- Tutor Time
- La Petite Academy
- Montessori Unlimited
- Childrens Courtyard
From a business perspective, cutting strategic deals is part art coupled with a ton of hard work. The video below walks you through some of the things we've learned over the past 2 years while negotiating with our partners. Main points include:
- Have persistence
- Focus on providing true value for the partner
- It's a long process getting to yes. Don't get discouraged.
- Build multiple relationships inside the channel partner
- Get a good legal team
- Don't spend cash until the deal is signed