One of the key factors of an SME’s success is to partner with a whale - or a few of them!!
There are significant benefits of large enterprises dealing with innovative startups.
Enterprises often reach a peak and are unable to pivot or adapt to new technology disrupting their services (Kodak, Blackberry, Blockbuster, Nokia to name a few).
Case in point - The banks are being disrupted by Fintechs.
They are afraid to cannibalise their core product - but they k ow they need to do something!
CBA is currently developing a strategy to innovate and partner with the industry . https://bsivc.blogspot.com/2020/02/x15-cbas-fintech-incubator-25-startups.html?m=1
Enterprises reach a lid or a barrier - and that lid is usually defined by its leader - how do they break through?
Building partnerships with startups that as innovative companies have the potential to replicate and add to the enterprise’s strategy and can provide them with valuable access to additional areas.
A win win - for startup and enterprise
While the enterprise receives assistance from a team who can work on one issue, quickly and efficiently, the startup can gain access to the thoughts and processes used in an entire corporation, providing them with new insights and allowing them to create solutions for the problems which they otherwise wouldn’t have known existed.
Smart company identifies 4 things to do to work with an enterprise
1. Nail the basics get your branding right
Have a slick website with active social media channels. It is likely to be here that you’ll establish the initial contact with corporations. It’s free airtime and if you draft the message correctly, you can really gain some traction.
Here’s a checklist.
- A branded (.com or .com.au) domain.
- A simple, modern website design that adapts to mobile devices.
- Basic information on your website (such as your company profile, contact details, office addresses).
- A local Google listing which is done through Google My Business.
- Active accounts on social media channels.
- Regular relevant articles
- A list of your ideal clients
- A strategy to meet them
Once you’ve got the basics down, it’s time to get knocking on the doors of these enterprises.
2. Build yourself as a thought-leader
Get yourself out their - connect , contribute , collaborate and do so consistently - be part of a bbg forum.
Think outside the box - create keynotes - become a representative of your business and its brand. Ensure your keynotes tell a great story !!
People remember stories .
Present at one or more of the bbg forums held each month - www.bbg.business
Attend industry events, send info to journos; joining online discussions.
Join us on 25th Feb with Kate Engler and Finns our where the Journo s hang out.
3. Understand your value proposition to the enterprise
- Are you providing a vitamin or a pain killer?
- What problem are you solving for the enterprise?
- What is your value proposition to the enterprise ?
- Make it simple for enterprise to transact.
- How do you become an integral partner for the business, not just another vendor?
Solve the enterprises needs . Be clear on who in the organisation will be dealing with you and find out their pain point.
Articulate those pain points and be clear on how those pain points will be solved.
4. Take action - Seize opportunities with both hands
Be able to seize the opportunity when it presents itself, and look to continuously adapt and change as your industry is disrupted..... And it will be disrupted.
Partnerships with enterprises is the bomb!
These partnerships give you as an SME the opportunity to truly accelerate your trajectory, and provide you with a potential solid cash flow!
Take Action
If you have a product or service that can solve an enterprise’s pain point.... join us at our enterprise forum on 4th Tuesday of each month.
https://www.bbg.business/bbg-events
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