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Partnering With Startups? Here’s Your Bible!

The number of startups is keeping on increasing these days and there is an upward trend in Startup Company according to the 2015 Kaufman Index. But this hardly makes any difference to the stiff competition amongst the various startups. The key is to partner with bigger established companies so as growth becomes stable and steady. Here are few tips to get tied up with bigger companies for good.

Get your needs clear

Make sure you know what your expectations and goals are out of the new partnership. Think of the possible strategies that can help to boost your market with the banner of the big company. A partnership for namesake without any potential benefits is just a waste of time. You should be clear with your end results of the partnership and work towards that. Find out the weak sides of your startup, and develop a plan as to how the new company can help you mutually in a way you can strengthen these weaker sides, at the same time making profit for the big company. So once you are clear about the type of help that you need, then you can start looking for the suitable partners.

Think of how you can help them

It is very crucial that the tie up needs to be a mutual thing. Unless and until both the sides are benefitted, a partnership will not be successful. There has to be a proper balance of give and take for a long lasting partnership. So be clear of what you can offer to the company before approaching it, so that they will show interest to work with you. Think about the lack of the big company, and how you can find solutions through your products. Because that is the whole deal of a startup, one needs to identify the lack and come up with a product that can tackle that problem. So make sure your product is something that the partner company lacks so that they buy it.

Contacts make a lot of difference

A lot depends on how you network, and how you maintain contacts with the right person. This will give you a better and easier access to the company if you know people there who can help you. Be very frank about your goals and intentions, and develop a healthy relationship with the person that he will be willing to recommend you to the company. The more the contacts you have, the better.

 Think about future possibilities

Always have a clear cut idea about the possible ventures that can mutually benefit you and the partner. When you make goals, try to find out the long term ones that will ensure a longer partnership. Find out the future goal settings of the partner and think of ways you can contribute to it. 

Patience is the key

Nothing gets done in a day. Partnership with a company is a very slow process. There requires a series of negotiations, meetings, discussions and compromises throughout this process. Initially your tie up may not be as beneficial as you thought it would be. But give it some time and let all the procedures happen slow and steady.


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Startup-Buzz Team

Startup-Buzz Team

Startup-buzz Team is a collaborative group of entrepreneurs, researchers, writers and experienced professionals. Tied up together to bring the latest Startup Buzz going around the globe.

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