I really believe that there is the potential to create a huge amount of value through collaborations between large enterprises and small businesses or startups.
Large enterprises have customers, processes, resources and distribution. Smaller businesses are nimble and can respond to dynamic markets, changing trends and customer feedback quickly.
They are also more innovative and they attract and develop talent.
However, partnering with big companies is not easy and it often leads to failure and frustration. I know, because I have been there.
Collaborations range from supplier and customer relationships to product development to sales and marketing to distribution and licensing.
In this video I go through my six 'C's – the six things every small business needs to think about, very carefully, before and during any collaboration with a large enterprise.
I also add another bonus C at the end of this video that can make a material difference to your chances of success.