Since 2019, having dethroned China, Mexico is the US’ top trading partner with 14.7% of total trade while the top 3 main US trading partners, along with Canada and China, still represent over 40% of the overall trading activity of the United States of America. Rising freight costs and the need to diversify supply chains were some of the main factors influencing the shift towards US closest neighbors.
Looking beyond what you know and diversifying into a new product area or region can be daunting. Finding business partners to aid you on this journey could mean the difference between success and failure.
Unlocking the full value of two businesses partnering on an opportunity relies mainly on three short, simple and clear principles, which need to be present in order to drive that opportunity towards success, leveraging from the first Business Meets Business (BmB) platform.
Finding business partners traditionally has been a challenging experience. Aligning yourself strategically with the right business partner can revolutionize your organization’s offering. From leveraging knowledge sharing and resources, to expanding into new areas and product segments, finding business partners can deliver significant short and long-term value to your organization. At the same time, you can leverage your partner’s brand and assets, learn from their big data insights and support each other for sustainable growth. There are many strategic partnership benefits which we will review in this post.
Look beyond your company’s borders and discover an untapped collaboration resource.
When they hear the word “collaboration”, many executives think of a phenomenon that happens only in brainstorming sessions and long meetings. And while breaking down silos is important for keeping everyone on the same page, not enough businesses look beyond their walls – to their partners and suppliers – for ideas and insights that could accelerate revenue and growth.
Continuous innovation is a major challenge faced by business executives today. As customer needs grow more diverse in the face of a globalizing economy, it’s becoming increasingly difficult for businesses to innovate and meet all of their customers’ needs on their own. Thankfully business leaders are finding a strategic partnership to be a meaningful way to meet customer demands.
When two companies collaborate with their mutual interests in mind, great things can happen. Supply chain partnerships are the focus of our latest infographic, where we examine a few case studies that a win-win collaboration between two companies has yielded to a high, beneficial impact.
Big data is often overlooked when it comes to finding business partners and forging business relationships. Here’s how it works.
Building a successful partnership takes a combination of hard work, collaboration and perseverance, so it’s important to have the right company by your side when undertaking a joint project.
The power of a perfect partnership can transform companies, disrupt industries and reinvigorate brands. These five case studies of true business collaboration success demonstrate the importance of strategic partnerships, and the widespread benefits they could bring.
View the infographic to see how alliances have recently been a benefit to both prominent industrial leaders such as Nissan and Apple, as well as emerging niche companies with an intent on expansion.
The old adage of maintaining strong and effective B2B partnerships goes back to maintaining any positive, healthy relationship – communication is key.
True collaboration happens when external business partners begin taking the time to actively listen to and learn from each other, instead of simply dictating terms.