To effectively address customer and market demands, a company, despite possessing substantial expertise and investing in research and development, may still encounter gaps in its quest for success. When time-to-market is critical, or when financing development is not affordable, it may be wise to consider partnerships with entities that can serve as suppliers, integrators, industrial associates, technology providers, business developers or even competitors. The challenges involved are diverse, encompassing deficiencies in industrialization tools, critical technologies, product portfolios, market insight, or sales and marketing capabilities.
To thrive within a partnership, it is imperative to acknowledge any deficiencies in competencies, Intellectual Property, or skills and then to subsequently identify potential collaborators capable of complementing these gaps.
What factors primarily influence the decision to form a partnership?
In our observation, the central idea revolves around the concept of «complementary proximity». When there’s a significant overlap in skills or assets, the partnership might not yield positive results and could potentially lead to disputes. On the other hand, if there’s too little common ground, the partners’ objectives may not align, or their alignment may be short-lived.
Ultimately, successful partners should bridge each other’s competence gaps in the present and work together towards shared goals in the future. Also, it is conceivable that such a partner might eventually evolve into an affiliated or parent company, further facilitating your company’s expansion.