My start-up has built a very smart way of doing 360 degree manager reviews, which solves a real problem in the industry. We've redesigned the value-added feature so that it could be used to improve ANY existing 360 degree survey (with some integration). The idea is to open it up to our competitors so they can improve their own offerings to their clients. The danger is that they decide to build the feature themselves instead of partnering with us (probably take about 3 months of work). How do I prevent this and make it more attractive to work with us than doing it themselves? And should I approach the biggest players first, or start with the smaller guys?
Partnerships are about creating a win/win situation. Companies are in general open to partnering when you have to offer something that will allow them to win together with you in the market in an easier way than when they do it all alone.
From that perspective start with looking at the potential partners out there and define which one of them have the best fit with your company culture and product portfolio. Go for this low hanging fruit and approach those partners first. Decide if you will ask them to sign an NDA or not.
Partner selection and creating partnerships can be guarded by contracts but on the other hand trust is essential. If there is no fit and no trust then contracts won't help you to create a healthy relationship. Have a look at my 4-step guide to partner selection, it might be helpful: https://gumroad.com/l/cMyfD
Happy to jump on a call to dive deeper into this with you.
Answered 8 years ago
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