* Article written by Estela Damato, founder of Damato Partner Track
A constant transformation is crossing the business world, creating promising scenarios especially for operations with a purpose of impact or those who are embarking on this journey.
New opportunities for engagement, growth, and evolution for companies have risen up.
In this optimistic business landscape where corporations and enterprises are increasingly interested in generating positive transformations, there is also a growing interest from sponsors and investors.
Strategic partnerships, in this sense, are emerging as efficient ways of conducting business. And it is precisely this point of connection that fosters market maturity and evolution.
In this article, I invite you to expand your view on the concept of business opportunity and how to close deals.
Opportunities on innovation and partnerships
Joint initiatives are providing opportunities for various stakeholders in the business ecosystem to establish more partnerships and investments, creating a network of relationships among the involved parties.
A greater scale of innovation can be achieved as disruptive solutions are shared, enabling companies to expand their scopes and reach into other sectors.
And you may wonder: where do these business opportunities lie?
- In identifying challenges shared across different sectors, thereby enabling more comprehensive problem-solving;
- In taking a holistic view of operations and the environment, seeking new ways to contribute to the resolution of systemic issues;
- In new business models and financing for projects and solutions with a social or environmental focus.
The fine line between success and failure in corporate alliances
Corporate alliances thrive when there is a point of connection among stakeholders, but on the other hand, most of them tend to fail. Around 70%, according to Boston-based consultancy Vantage Partners.
This statistic gives us a sense of the hurdles we may encounter in the negotiation environment, which you might have already noticed in your own experience, right?
Many factors can create obstacles in this process, such as misaligned values and objectives, lack of clear understanding or agreement among the involved parties, poorly defined or absent metrics on business value, and even cultural differences.
Strategic partnerships: creating joint value for long-term success
Establishing enduring partnerships involves making more assertive moves focused on the human factor, and building trust will underpin successful relationships at every stage, from the point of connection to the deal closure.
And the value a solution can add to a business is pivotal, as collaborative work requires all stakeholders to share outcomes, beyond just responsibilities.
Identifying the potentials of the involved parties and understanding different negotiation environments are key to creating strategic projects and deal closures, as the design of a solution itself becomes an opportunity.
Companies can find opportunities through various approaches in the value chain: within their own industry, across sectors, and even involving multiple stakeholders. For example:
- Contributing to solutions that enhance the strengths of a partner active in a specific sector;
- Sharing resources in all forms: knowledge, sponsorship, or investment for impactful projects;
- Collaborating on innovative solutions to emerging social and environmental issues.
The most important opportunity, however, is to create joint value.
Therefore, it’s essential that all parties have clearly defined roles, and an effective strategic planning will determine how each involved party operates.
Remember what I mentioned about deeper relationships? They are crucial for fostering successful partnerships and pursuing opportunities assertively.
Damato Partner Track is specialized in tackling the challenges of entering emerging markets.
We leverage our understanding of diverse business environments, strategic solution design, and active listening to identify the needs of both you and your potential partners, all through a highly personalized approach.
You can check out my highly customized methodology here.
And get in touch: [email protected]
