1. Define what you want out of a partnership
You need to have a good sense of what you want the end results of any partnership to be before you consider it. Once you’ve decided on the type of help your startup needs, you can start looking for the right partner.
2. Know what you bring to the table
A great relationship is a balance of give and take. Know what you have to offer the company you want to partner with. If your
startup is a solution provider, you need to find a way your solution helps them, too.
Have brainstorming sessions with your team to look at potential partners’ needs with a wide-angle lens. Coming up with the right insight can be the key to unlocking the partnership opportunity you want.
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3. Find a personal contact at the larger company
Things are infinitely easier if you already have a connection in the bigger company.
Turn to your professional network and see if you and the company you’d like to partner with have any mutual friends. Having a warm introduction will lead to a substantive conversation faster.
4. Make sure goals align
As you embark on any undertaking with a new partner, it’s important to be upfront and honest about each other’s expectations for the project. Get on the same page about everything from each company‘s roles and responsibilities to how you’ll evaluate success.
5. Be patient
It’s unfortunate, but the bigger a company is, the longer it takes for decisions to be made. Given the extra layers of management and the number of people that must be included in each step of the process, it’s important to be ready for a much, much slower pace than what a startup company is used to.
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