Scouting for Partners
How to find the right partners? The way companies combine is extremely important to be able to leverage on mutual strengths and become part of a profitable network.
What is important? Having in mind a list of the criteria your ideal partner should meet is a first stepping point in the network formation.
Partners must share common values and goals. Stating clear objectives is essential to avoid competing interests and to keep motivated all the stakeholders involved, being able to manage all different expectations and make the collaboration profitable. At the same time, the level of commitment should be mutually understood and agreed by parties.
Carry a SWOT analysis of your potential partner, considering complementary strengths, what it could bring into your business, but also possible threats and weaknesses, then determine how well they match up.
Innovative business ideas could be great, but must be able to fit with the company strategy to keep the business focused.
Lastly, developing a clear strategy to evaluate your partnership is a first winning step toward successful collaboration formation.