Engaging with Goliath

As a small or medium company, you have some distinct difficulties in engaging with larger, more mature enterprises. Nonetheless, there are obvious reasons you should be exploring partnerships if you recognize one or more of these aspects:

Issues

• Your company has limited resources
• You have the capability for rapid innovation
• You have no outlook on further strategic funding
• Yours is a creative rather than controlling culture

If this applies to your company, consider these to increase your potential for Alliance success:

Opportunities

• Align with an organization that has mature processes for
  • Product development
  • Engaging with target customer segment
  • Marketing new products
• Corporate investment at more advantages terms
• Access to network of supporting resources
• Access to experience in complementary areas

Risks

• Incompatible view of partnership arrangements
• Misleading behavior to obtain innovative ideas
• Incompatible cultures and lack of appreciation of the value of their differences
• Lack of appreciation for needs of small innovative company

Our Recommended Approach

• Educate your team to current 'best practices' in Alliance Management
• Evaluate companies to understand their 'Partnering Profile'
• Understand how and when revolutionary and evolutionary companies should team up
• Determine the appropriate doorway into the target company
• Prepare your materials thoroughly. You will only get one opportunity to establish your validity as a potential partner!
• Pace yourself, proceed through the process demonstrating your maturity
• But: push where it is necessary to protect your interests as a future partner