Collaboration is at the heart of every business success. Long before we start selling we engage with a range of partners, including manufacturers, logistic companies, import and export agents, lenders and investors. Indeed, just about every aspect of a business is in some way dependent on partnering on opportunities.
Finding Strategic Partners
Unfortunately, while the importance of these agreements is clearly understood, most businesses fail to execute effectively with around 80 percent of companies stating that the vast majority of strategic partnerships fail. There are a number of reasons for this failure, but one of the most significant challenges is researching and finding the right opportunity, at the right time and with the right partner.
Automated Partner Matching
But as with most business challenges, technology is changing the way we do things. Big data and powerful algorithms are creating radical efficiencies and disrupting the age-old process of business introductions and finding strategic partnerships. Finding and connecting with corporate partners has finally entered the Internet age. At Powerlinx, we make of this approach our main focus. In a world of social networks, simply connecting is too often considered the end of the journey. But successful business outcomes require more than just a connection. What matters is the right connection and that is a function of capability, intent and purpose.
It also requires recognition that the process of finding new business opportunities is never really complete. Not only must existing operations be nurtured but brand new opportunities must be sought after as we look to respond to the ever growing demands of our hyper competitive world. It is now a requirement that companies be constantly on the lookout for new opportunities to partner with firms that can help them build a competitive edge in the marketplace. Engaging with a community of like-minded businesses is essential to maintaining an edge over your competitors.