The popular quote attributed to Henry Ford and Edward Everett Hale says “Coming together is a beginning, staying together is progress, and working together is success” still seems valid in the context of business and partnership.
In today’s corporate world, the partnership comes as an essential element of a successful business strategy. Due to the innovation of technology, almost every other business looks for a reliable partnership with software development companies to enhance and expand business revenues. However, the important elements of a successful partnership is the right strategy that can be beneficial at both ends. Before the companies shake hands to pursue the partnership the compatibility must be considered as an initial and vital factor.
Here are the five effective strategies to make the partnership long-lasting
A Partner with same Business Vision
It is a misconception and a myth that the software development process and the product consist of code and technology only. It is not just a product that has to be delivered, in fact, it is a reflection of the business vision. A software vendor must comprehend business vision to perceive the business challenges, competitors, and prioritize the features accordingly.
A vendor that is more interested in imposing his company vision over the client’s priorities cannot prove successful in the longer run, so to avoid such a situation the vision of both parties should be compatible with each other.
Predefined partnership plans
The partnership plans should be predefined with a properly documented plan. The plan should talk about the extended teams, services, budgets, resources, scope, and deadlines. Predefined plans can resolve all the unsettled ambiguities that can create disruptions in the future and harm the partnership.
While making a deal, policies play an important role in both ends to ensure ethical values. For business, it is important to clearly state the policies in terms of time and resource investment. The software development company should specify administrative and technical controls. The transparency should be maintained in terms of policy and protection of information and intellectual property should be guaranteed.
Sound communication and clear objectives
When the deal is done with the incentive of the long term partnership, financial gain is never the top priority. The software company with patience and good communication skills having sound knowledge of the technology can be useful for the business. The element of mutual cooperation in creating a quality product to achieve the goals can be a great addition to the business.
Common values that can amplify the business
A long term partnership seems promising but one must focus on the common values that can be of benefit to the business. The individuals who share the common work value are more likely to have a strong professional bond. The software development company that values working with the vendor is going to share a long term reliable partnership.
Hopefully, these strategies will be fruitful for future partnerships and endeavors.
Feel free to share your experiences and opinion about the collaboration and partnership with the other software development companies.