Key [[key partner|partners]] and [[supplier|suppliers]] are crucial components of a business model, involving entities that provide essential [[key resource|resources]] or perform specific [[key activity|activities]] to support the business. It's important to identify what exactly is being acquired from these partners and what roles they will play. Startups often mistakenly believe they need the same partnerships as large companies from the outset, but the types of partnerships required can evolve over time. In the early stages, partnerships might include [[strategic alliance]]s, [[joint venture]]s, or regular suppliers and buyers, but these needs can change as the business grows. It's essential to continuously evaluate and test these partnerships to ensure they align with the company's evolving goals and requirements. ## Activity - Watch the video [Business Model Canvas Key Partners](https://youtu.be/6vVGxUFcwsQ) ([[Udacity - How to Build a Startup]], Lesson 3.9) Next: [[What are key activities?]] Back to: [[An Introduction to the Business Model Canvas]]