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For effective strategic partner recruitment, the author recommends an eight-step plan, which includes identifying your target market, developing partner selection criteria, and developing an alliance plan with a selected partner.
After years of bumps and bruises acquired in partnering his small firm with large ones, the entrepreneur shares his lessons learned along the way. He outlines a five-step partner consideration process, which includes researching potential partners for proper fit and using your small size to your advantage.
When getting ready to engage with a strategic partner, entrepreneurs should enter into a written agreement when working with these partners to ensure, among other items, the proper assignment of invention terms and various representations and warranties.
In selecting a strategic partner for your company, do your homework first. With United Stationers as a partner, Paula Jagemann was able to grow revenues $0 to $18 million within eighteen months, deliver top customer service, and generate a high percentage of repeat customers.
The entrepreneur recounts how his firm went from being one of 50 tactical suppliers for a large firm to joining its exclusive club of strategic partners. The key: first understand these large firms' challenges and deliver solutions that would transform their businesses.
As a child growing up in Chihuahua, Mexico, Cecilia Levine's English vocabulary didn't include "entrepreneurship," but she certainly could see the difference it made in people's lives. What she couldn't see then was how entrepreneurship would provide her with the tools, resources and passion to improve the lives of thousands on both sides of the U.S.-Mexican border.
The entrepreneur's role changes throughout the stages of a business beginning with managing day-to-day operations and advancing to leading for growth.
The power to make a difference comes when you look inside to find what you have to give.
Geoff Davis figured out a way to dedicate his life to entrepreneurship and improving the lives of billions of people around the world-all in the same job. The strategy of his nonprofit is to accelerate the growth of high-potential emerging microfinance institutions through capital investments and capacity-building consulting.
This article discusses positive attributes and fatal flaws of technology and life sciences business concepts.
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