4 Jan 2024

2024: The Year for Forging Corporate Alliances

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Navigating the corporate landscape to find the right buyers may seem daunting but it's entirely feasible. A recent study by Enterprise Nation, funded by RB, revealed a striking insight: 66% of UK entrepreneurs are open to the idea of collaborating with corporations to expand or diversify their businesses, yet a majority have not taken the leap. A staggering 86% are unsure about initiating the search for these valuable partnerships.

Many UK entrepreneurs are overlooking the chance to tap into the vast knowledge and resources of large companies. These collaborations could be key to enhancing product innovation and ultimately, elevating their profit margins. So, how can they bridge this gap?

Selective Partnering

Avoid mass outreach. Instead, selectively pinpoint a few companies: I call it creating your HIT list. Investigate their offerings - are they a perfect match? Reflect on the mutual benefits to ensure a balanced partnership.

Fostering Corporate Relationships

Making your voice heard in the corporate world is tough. Seek out opportunities to meet big players at important events like conferences like The Diverse Business Summit 2024 (more info to follow), trade shows (find a list here 10.times.com), and networking functions (eventbrite), or connect via online platforms such as LinkedIn. Once a connection is made, immediately make an impression. Be prepared with a compelling elevator pitch.

Consumer-Centric Approach

Prepare your pitch with the consumer in mind. Translate technical features into clear corporate benefits - the more insightful your understanding, the stronger your pitch. All too often we create our own programmes and try to sell this without any understanding of the corporate landscape.

Strategic Analysis

Demonstrate your awareness of the competitive landscape. Use resources such as Google Alerts, Best Places To Work, Trade magazines etc. Show potential partners that you understand both the opportunities and challenges, such as export regulations, on a national and international scale.

Humanizing the Pitch

Beyond facts and figures, an exceptional pitch tells a story and engages the listener. Highlight your team's unique personalities and their contributions to business growth and business impact

Embracing New Perspectives

Be open to new ideas from potential partners. Innovation often comes from collaborative efforts and fresh viewpoints. Even seemingly unconventional suggestions can lead to significant rewards. A dynamic partnership can bring a new product to market in as little as a year.

Pitching to a corporate might seem intimidating, but the rewards are substantial - from market expertise and regulatory guidance to product development. Remember, these companies are equally in search of innovative ideas to transform into consumer products or services. This scenario presents a win-win opportunity. The question is, are you ready to seize it?

If you are, why not join the Corporate Acquisition Mastermind - a 6-month programme for coaches, consultants and service providers that provides a clear roadmap to accessing B2B clients backed by a robust Strategy: The Foundation of Corporate Engagement, System: Tools & Resources for Streamlined Approaches and Sales: Securing Corporate Clients with Confidence. Our doors are now open

https://marketing.thepeoplespartner.com/mastermind

We will cut your learning curve in half, we will help pitching corporates for you and give you all the tools required to win that contract. If you want to have a call first to see if this will be a good fit for 2024, then send me a private message.

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