Empowering Companies to Build Partnerships that Thrive

International development assistance has a very well-defined purpose – find sustainable solutions to global challenges. It involves raising and allocating money to support world-class programs which, in its turn, will empower companies to create transformational sustainable change for the world.

Now did you know that forming strategic alliances and bringing together bi-lateral and multi-lateral donors, companies, NGOs, academic institutions, other types of organizations active in the public sector and experts can solve the world’s greatest crisis and end extreme poverty in 15 years?!

But the work is very tricky, and forging strategic business partnerships on a global scale is a process riddled with complexities. Organizations have to know very well how to leverage their alliances in such a fashion to see them thrive and get each time closer to the common goal.   

According to the Grow from the Right Intro report, 42 % of companies find it difficult to get past the high-pressure as well as exhausting ambiguity when it comes to sourcing win-win alliances, and about half struggle with creating the synergy needed for a long-term, fruitful partnership.

If your company is aiming for continuous improvement at a global scale and extending your operational and technical resources, then this article will give you an insight into how you can effectively form strategic relationships that can evolve into fruitful partnerships at a common mission.

In this informative post, we will underpin 5 paramount ways to identify high-level partners from the very outset.

1. Analyze your company’s strengths and weaknesses

You have to thoroughly evaluate your own capabilities as well as technical and operational resources. In this case, performing an analysis of your company’s strengths and weaknesses will help you come up with a strategic plan on forming successful alliances so as to reduce project risk, and instead, produce the best ROI.

2. Explore your options

The possibilities are huge. In any broad or narrow area of interest you might have for any specific project, there certainly are lots of prospective companies you can team up with. To ease the process, you can make use of business intelligence tools that help you search for potential business partners from a large database of organizations. See below how DevelopmentAid can maximize the impact for your business.

But it takes a very good investigation to make sure whether the ultimate company of your choice complies with the prerequisite fund of knowledge and practical know-how you require.

3. Identify the shortlists and their core values

After exploring the options, you have to come up with a list of several most prospective companies. At this stage you have to thoroughly evaluate their core values and see if both your and the other company’s values are in alignment. This is to build incremental trust and for an open and transparent communication in the long-run.

4. Identify the leader

Any team requires a leader. This scenario is no different. It’s paramount to have a leader to coordinate the work between the members as well as act as an intermediary between the financial institutions and partnering companies. If you are a small organization, you have to aim high, and that means identify the best leader to create your winning alliance.

5. Protect your company’s intellectual property rights

Once you’re all set up and decision has been made, it is time to proceed with the legal agreements so as to protect your company’s intellectual property rights. This step will shed more light and define very well the nature of the alliance to both of the parties.

The development sector is huge, and so is the number of companies operating in the sector. Therefore it really is difficult and very time consuming to source relevant candidate companies and build partnerships that thrive.

But what if I tell you that there is a way to save time and energy whilst, at the same time, discover the most relevant companies to team up with for any future projects you might have? What if there is such a network of likeminded organizations which you can access at any time with just a few clicks?

Would you be interested to learn more?

Here is where DevelopmentAid comes in handy to those organizations that find the process of seeking potential business partners to be very intricate and brimming with roadblocks.

DevelopmentAid is a leading, innovative membership organisation offering business intelligence tools for the international development sector. The platform brings together donors, consultancy firms, NGOs and experts working for international development.

With a database of over 75.000 organizations and a very user-friendly search tool, you will certainly be able to build partnerships that thrive.

This informative post covers just a narrow slice of the fast-growing global partnership arena, but is a great piece of advice for a huge amount of companies struggling to form successful strategic alliances at a common mission.