Passive income
Noun
[pas-iv in-kuhm]
Passive income is revenue that an individual or a company generates without actively working for it on a regular basis. Make no mistake, it can sometimes take a great deal of upfront effort to generate passive income. But once the initial lift is completed, little to no active effort is required for that revenue to keep coming in on an ongoing basis. This makes it a really attractive method of earning revenue, especially over time.
Partnerships provide companies with an opportunity to generate this kind of passive income. For example, an agency may generate revenue (very actively) by working on client projects. But if they also sell software subscriptions on behalf of vendors, and that vendor offers them 15% of the monthly recurring revenue (MRR) of customers they sold to, then the agency will receive a nice chunk of passive income each month.
Example: With passive income from partnerships rolling in every month, marketing agency CEO Lissandra can feel confident that she could still pay all employees, even in dry months without a lot of new clients.
Critical Points of Trust Within Your Ecosystem
Noun
[pruh·fesh·uh·nuhl ser·vuh·siz]
Professional services refers to specialized and customized offerings provided by a software company to assist their clients in implementing, optimizing, and integrating the software into their business operations. These services often include consulting, training, customization, and technical support to ensure the software meets the specific needs of the client's organization.
Example: As part of their B2B SaaS partnership, the software company not only provided their cutting-edge project management tool but also offered professional services to help the client tailor the tool's features to their unique workflow, ensuring a seamless integration.
Noun
[part-nur net-work]
A partner network is a SaaS vendor's group of affiliates, referral partners, and/or reseller partners. These partners help to market and sell the vendor's product, receiving different commissions or cuts based on their partner type and agreement.
Some vendors will have only one kind of partner in their network (for example, if they only have an affiliate program), and some will run more than one kind of partnership within their network (for example, having both affiliate and referral partners). Vendors are responsible for providing their partner network with the required training, resources, certifications, and incentives required for the partners to market and sell their products.
Example: Lookwin runs an affiliate partner program and a referral partner program. Their partner network consists of every company involved in either program, whom they support with required education to sell their product and reward with commission payouts for sales and leads.
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