How to Build Trustworthy Partnerships With Tech Companies

Building a business is not a solo effort. Apart from the skills and knowledge that employees contribute to operate core activities, you also need to reach out to other companies, especially those in the tech sector. Networking should be an essential part of your skillset as an entrepreneur. While it’s easy to focus on the competitive side of business, there are still instances where collaboration and cooperation can help you unlock opportunities and align your business with current tech trends.

However, not all business partnerships end on a positive note. As much as you may want to make friends, you need to evaluate a potential tech partnership based on how your business deals with digital transformation. It’s difficult to know exactly if a tech business is on the same boat as you. Fortunately, new technology can aid you in detecting and avoiding potential pitfalls as you grow your network of tech partners. You just need to follow the tips below:

Set clear expectations

Before you can begin scouting for potential partners, you need to have a clear goal in mind. For this, ask yourself what your business will want to leverage from a tech partnership. Does it need help with setting up a cloud system? Are you seeking sound advice when it comes to upgrading your enterprise’s big data architecture?

There is always a good reason to seek out a tech partnership, so make sure you end up with a goal that’s clear from the outset. This way, you won’t have to waste time reaching out to agencies and firms that won’t have a significant contribution to the long-term success of your business. You should have a good set of benchmarks and success indicators to follow. That way, you will always have a concrete basis for pushing through with a tech partnership or decline it right from the start.

Build your network

As a business organization, it’s impossible to get anything done if you lack a support system. When it comes down to finding the right technology partner for your enterprise, you will need to look into your inner circle for suggestions.

You can try posting a question on social media platforms like Facebook, LinkedIn, or even Twitter. If you need a definitive list of tech companies to reach out to, you can ask through sites such as Quora or join forums where there is a good chance you will find a technology company that’s willing to explore opportunities with you.

Apart from these online platforms, you can also send direct messages or emails to tech companies you have found on Google’s search listings. Your introductory message should state the reason why you want to have a tech partner by your side.

The key here is to add as many contacts as possible so you can tap into various possibilities as you find a tech company you can trust. With a network that includes major brands and influential CEOs, you can get expert advice on who to trust.

Feed yourself with new information

Technology is continuously shifting, and it’s important that you keep up with every disruption you encounter along the way. New technology trends shouldn’t be a hurdle for you to overcome. Think of these as an opportunity to widen your understanding of new technology and learn how you can apply the latest concepts in your organization.

It all starts with knowing how your industry responds to change. If you are a realtor, how is technology shaping the housing market right now in light of the COVID-19 pandemic? Learning about the impact of big data and virtual reality technology on the real estate industry as well as the construction sector can go a long way. For one, it provides you the insight you need to engage tech companies who are looking to change your industry.

Take the time to join webinars, conferences, and other events that highlight the impact of technology on your industry. If you are in the financial services sector, consider taking part in fintech events like tradeshows and exhibitions where major fintech brands converge to deliver the newest concepts and talk about the latest trends.

Apart from industry-related tech events, you can also read blogs and online publications that tackle the issues and disruptions that matter to your industry. Being open to new information makes it easier for you to find a technology finder that coincides with your needs.

Delve deeper before engaging

Before performing your elevator pitch to the executive of an app development company, make sure to find out more about their organization and see if it has a reputation for bad deals. You can never be too careful, especially if there are contracts involved.

For this reason, it’s always best to treat everything that a CEO says with a grain of salt. Anyone can sweet talk you into signing a deal that will prove to be disadvantageous to your side. Being cautious doesn’t necessarily mean that you are unwilling to take risks. At the end of the day, you still need to protect your interests and make sure that your business comes out strong in the long run.

To be on the safe side, you can always evaluate your partnership deal and detect any indication of fraud. This would require sophisticated and legal means, so consider reaching out to companies such as the Diligence International Group to run asset searches, background checks, and other due diligence processes.

On top of that, you should also do a great deal of research on a tech company. Pay attention to bad publicity and complaints from past clients and business partners. The least you could do is to ignore the negative things other people say about the company. Again, your success is not necessarily measured by the amount of risk you take. Your ability to determine possible risks is just as important at this point.

Adapting to new tech trends is an exciting thing. You just need to connect with companies who can help you develop a clear action plan in preparation for what’s to come.