Trying to make it in the startup world can feel pretty lonely sometimes. With the old mantra “it’s not what you know but who you know” ringing in your ears, the pressure to network can be overwhelming.
But what if you could find an older, wiser business partner? One who was well-connected and supportive, and who had the resources to give you a bit of an advantage. Wouldn’t you seize that opportunity?
Partnering with a larger company can give your startup the credibility, visibility, and relationships it needs to begin making its mark. Between the corporation’s size and resources and your startup’s innovation, you and your partner could do great things together.
Take American Airlines, for example. Its Innovators program takes startups like BuzzTable and Trunk Club and shows them off in its American Way magazine with ads and features. Target’s program, The Shops at Target, partners with small businesses and boutique stores to fill its shelves with limited edition and homespun products.
These collaborations are mutually beneficial because they give smaller businesses the exposure they need while adding depth to the larger brand.
You, too, can use the buddy system to cure your startup loneliness and propel your company to new heights. Here’s how to get started:
1. Find the right match
Do your research to find a partner that’s a good fit for you and your company. Many corporations have established programs designed to nurture startups and entrepreneurs, but reaching out to them will show you mean business.
Getting connected with the right people at huge corporations can take a little detective work, but by using LinkedIn, connecting with relevant speakers at industry conferences, and reading who’s quoted in company press releases, you can find the people you need to connect with.
2. Get visible
The key to getting noticed by big businesses is being visible. If you’re just sitting in your office waiting for partners to knock on the door, you’re going to be waiting a long time. Snag the spotlight for your company by taking opportunities to speak at conferences and events, establishing a presence at industry trade shows, and writing articles that show off your company’s expertise.
3. Be a good storyteller
Corporations are always looking for help telling their stories to the world. Once you make a connection with a potential partner, let the company know that you’re willing to participate in case studies or provide quotes, rave reviews, and positive word of mouth. The opportunity to connect its brand to an innovative up-and-comer will be too good an opportunity to resist.
4. Master your marketing
As you buddy up, you’re going to need to be on top of your marketing and PR strategy. Collaboration can open up lots of opportunities that didn’t exist before. You might like to send out joint press releases or a monthly newsletter. Maybe you can help one another on social media by sharing a campaign and hitting both of your networks at once. Capitalizing on these marketing and PR opportunities is vital to mutual success.
5. Be ready to seize opportunities
If you pair up with a big corporation, be prepared for a flood of new opportunities to come your way. A larger company can provide added visibility in the marketplace, a steady pipeline of potential customers and connections, and more effective ways of gaining new customers and larger contracts. So when you say “yes” to a new partnership, you should be ready to say “yes” to all the new business opportunities that may follow.
The startup game can be a long, hard march alone, but it doesn’t have to be. By partnering up with a larger corporation, you can make the journey a little less lonely and gain a lot more credibility early. So stop fighting the big dogs and start making friends. Your business will thank you.