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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.
When structured properly, a strategic partnership with a large company can catalyze a small firm's growth. In establishing a partnership, entrepreneurs should focus on how their product will be sold, who will sell it, and how the partner will facilitate sales growth.
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.
Careful measurement and management of your partnerships can protect entrepreneurs from entering into agreements with the wrong strategic partners, and it can provide a sound basis for making the most of productive partnerships.
Richard Caruso considers success less a matter of financial accomplishment than of meaningful personal contribution. He's managed to do both.
Marcia Mellitz, president of a St. Louis-based technology business incubator, recounts the roller coaster tale of two entrepreneurs who ride the wave of startup, failure, and ultimately success.
A business strategy incorporates business and personal goals into a competitive advantage that will successfully carry the business into the future.
Entrepreneurs make great decisions when they critically analyze the situation.
Determine the market potential of business's products or services by examining the key factors presented in this article.
During the planning process, entrepreneurs must evaluate their business model to ensure that the current model will support growth.
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