Tips how to make strategic business partnerships happen and what you need to do to create an upper edge during negotiations to drive home the best deal.

1. By
Sunflower Lab
Intersection of business, technology & innovation
How To
Create
Win-Win Strategic
Partnerships
Tips how to make strategic business
partnerships happen and what you need to
do to create an upper edge during
negotiations to drive home the best deal

2. The problem
• Startups and SMEs often need help to grow
• Complex market scenarios make it difficult for small-scale business to survive the
market
• Scarcity of funds, limited resources, lack of essential business knowledge and time
constraints can prevent small businesses from proliferating
• Businesses still have to survive despite all odds

3. The problem
How can small businesses
achieve this?

4. The solution
• Forge strategic business partnerships with bigger players
• Create an opportunity to grow your customer base
• Build a true synergy between the two entities and make one plus one
equal five instead of two
– Streamline operations
– Develop a new range of products having a higher business value
– Improve upon your services quality
– Or simply outsource certain tech activities to reduce operational
overheads

5. The tips
Here’re are some tips to
get you going

6. 1. Look beyond what's on the table
• Businesses fundamentally operate upon the scarcity-abundance principle
• On one side there's a need to consume, and on the other side there’re
people ready to fulfil that demand
• From the "consuming" side you might desire reduced buying costs to
improve your margins
• Or from the "supply" side you might push for higher selling costs
For a partnership to form it is imperative that both the sides benefit from
the alliance
You might be required to compromise upon certain aspects to make
your partnership happen

7. 2. Evaluate yourself in a proper
manner
• People enter partnerships when they feel they lack in certain business
aspects and need help to grow
• Typically, the party initiating the partnership often feels it doesn’t have
enough value and is inferior
• It plays upon your psyche and hinders you from pushing forward your
advantages
‒ Value your plus points
‒ Identify what values you bring to the negotiation table
‒ Explain what you can offer and what you expect to gain
‒ Don't hash out your business plan or change your vision to "suit" the
alliance
‒ Be clear about your business journey and have confidence on your
products

8. 3. Understand your potential partner's
needs
• If you need someone, chances are the other person might be needing you
too
• The fact that the other person is listening to you indicates there's
something to gain from the partnership
‒ Carry out a discreet search and to find out why the person is
interested
‒ Gain valuable insights for negotiations
‒ Use the information to present lucrative proposals to strengthen your
deal
‒ Don't hesitate to ask on face why he or she wants to connect with you

9. 4. Have something in common
• You can't form a partnership unless you share something in common
• It could be business needs, a vision, talent or almost anything
• Business people come from different backgrounds and have their own
strengths and weaknesses
‒ Best partnerships are formed when mutual weaknesses are
understood and accepted by both parties
‒ A passion is created to achieve large milestones

10. 6. Expect to feel uncomfortable
• Business negotiations are not a Sunday picnic
• You might be pressed down hard so others can gain an upper edge
• Many people feel uncomfortable with disagreeing with things
While thrashing out the details on table, expect some push and pull
‒ Don’t let pressure bog you down
‒ Prepare and be clear about where you stand
‒ Be clear about what aspects you can compromise upon
‒ Draw your bottom line

11. 7. Document and commit
• Most partnership can start off positively and later end with a big bang
• People can feel frustrated and cheated
There is a tendency to take things for granted. Partners may depend
upon mutual understanding about how profit should be split and
responsibilities should be shared.
‒ As nothing is written down in black-and-white it offers a leeway to
deviate from the commitments
‒ Partnerships require protection
‒ Seal all MOUs and agreements in writing to avoid messy breakups in
the future

12. Sunflower LabIntersection of business, technology & innovation
• A custom apps and mobile software development company based in Columbus, Ohio
• Voted as "Top Custom Software Development Company of 2017" by Clutch - A top B2B portal
We offer IT based premium quality services
Mobile App
Development
Web Development Cloud Development
Custom Software
Development
Strategic Consulting Graphic Design

13. Visit us at
www.thesunflowerlab.com