How to identify the best partners for your business

Actualizado: 10 may 2021

Nearly all companies got any kind of business partner. For sure business partners can influence your business and growth positively but there is also a risk if you do not have the right ones.

Due to the increasing amount of companies and different products and software solutions it is getting really difficult to find the most suitable business partners which offer an additional benefit. The wrong partners risk the future of your company! You need to invest time in your partner - Time that you could also invest in the daily business of your company, so there should be any kind of profit or benefit. Furthermore the partners represent also your portfolio and your image, it is impossible to control how they represent your business. Often partners also add your products to their portfolio, but what if there are companies which could influence your turnover more positively?


Seizing the market and opportunity

So why it is recommended to have a partner at all considering all these risks? First and foremost you can focus on your core business. A partnership should increase not only your position but also your partners. Generating an additional benefit for both parties is the main objetive of a partnership. The reasons could be manifold: turnover, image, cost-cutting, increase product portfolio or get into new markets.

But there are so many different possibilities for a business partnership, how do you find the right ones? Get support and involve a consultancy of international markets to get a general overview about available suitable companies in the market. The consultants can validate the tactical background to encourage your position in the market. Regarding to your aims and interests of a partnership the list of available companies can be prioritized. Furthermore a consultancy can analyze the additional benefit for both parties. After a first sharing of knowledge and interests, pilot projects or lower volume projects are a good start to build up trust. Even if you find the perfect business partners, a further aspect is to keep them. Constantly sharing knowledge is highly recommended. Both parties should be always informed about the actual status. Furthermore an ongoing training about the solutions and changes should be conducted to guarantee best results.

It is definitely not easy to find the best partners for your business but it is necessary to look constantly for new possibilities And not just about partnership – quality is more important than quantity!

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