Running a startup company is exciting because you have many possibilities for professional development and flexibility. However, you can also benefit from established resources that larger companies offer. One of the best ways to do this is forming a partnership, a working relationship that can help spread the word about your startup while improving the larger company’s operation. The below guide offers advice to help a prospective partnership go smoothly.

3 Tips for Forming a Partnership

1. Communicate Clearly

A partnership with poorly defined goals and boundaries will frustrate both parties, so you should articulate why a partnership would be beneficial and what you’re expecting from the larger company. If they are well-established, they may see less benefit for themselves in a partnership, so do thorough research and explain why your product or service can enhance the larger company’s offerings. If you’re unsure how to communicate this clearly, a professional development course can help you hone in on your business strengths.

2. Focus on People

When you pitch a product, you may envision yourself staring down a long spreadsheet of numbers for cold calling. However, establishing a working relationship is easier if you start with a personal connection. For example, if your startup is pitching a payroll system, knowing the leader of the human resources department at a company will make the pitch easier. As you’re considering potential partnerships, think about what connections you already have that would make partnering easier.

3. Improve Your Odds

Not every business will see a partnership with you as beneficial, and that’s OK. Instead of hitching your company to a single star, diversify your chances by pitching to multiple companies across different industries. As your network grows and companies trust your product, you may find that future partnerships are easier to create.

If you’re part of a startup and are looking for professional development, ACA Business Club St. Louis can help. Based in Chesterfield, MO, they help develop business leaders in a wide range of industries. Their club also offers the perfect space for working at an affordable price, and they offer customized business and professional development plans to help your startup thrive. Learn more about professional development by calling (314) 628-0690 or visiting them online.