In today’s digitalised world, the old school concept of boy meets girl has been re-characterised by software, algorithm-driven applications. Love is literally at our fingertip with many dating singles available just by swiping right. While the modern approach to love has changed for many, it is still about bringing two people together. Although there is no specific app available to swipe right for your perfect commercial partnership, there are many valuable lessons that are still applicable when collaborating with business partners.
Many companies today are taking their first steps towards transformation in the Cloud. Even with all the opportunities out there, finding the right partner to support you in your transformation is a tough game; very much like finding your true love. Coupled with the evolving market landscape and advancement in technology, it is becoming harder for businesses to generate new revenue streams or even remain competitive without a partner.
According to the Gartner 2018 CEO and Senior Business Executive Survey, corporate partnership was the second biggest priority in 2018. This Valentine’s Day, here are the lessons we have learned over the years that will help you build a strong commercial partnership in 2019:
- Trust – It is always better to get together with someone you can trust. By partnering with a service provider with a transparent business model, you can be assured of the quality in service delivery and customer experience. Start by looking at partners with proven track record and commitment to building better products and services. Find a trusted partner whom you can rely on to constantly support your business growth in the long-term.
- Respect– Respect is the key to building a confident and healthy relationship. Similarly, today’s partnership approach is changing from one-off transactions to organisational-wide transformation. In our industry, bringing new opportunities to monetise the network is often the key to building successful partnerships. A partner who respects your business goal and customers will go above and beyond for you. This may mean continually driving innovation in solutions that enable you to deliver the best experience for your customers.
- Communication – Some may say that communication is the most important aspect in any personal relationship; and the same can be said for business partnerships. Fast-changing market trends and evolving customer expectations necessitate the shift to new networking models that are highly adaptable to changes. In such conditions, it is important to communicate with partners effectively through open feedback channel to constantly improve the services. Absence doesn’t always make the heart grow fonder so don’t be afraid to overcommunicate sometimes.
At Epsilon, we value partnership as a key driver in transformation and innovation. We are constantly expanding our global network by partnering with network operators, cloud service providers, and Internet Exchanges. Without a robust partnership ecosystem, there will be plenty of missed opportunities because no single company can be a specialist in everything.
Happy Valentine’s Day and I hope you find your one true “partner” this year!