Convince Your Management Team to Support a Startup Partnership: 3 Simple Steps

It is now evident that corporates cannot go forward without innovating. The processes that once worked do not help to capture future customers anymore. Startups all over the world have figured out better solutions that can outrun traditional corporate giants.

To survive the waves of industry disruption, the only solution for corporates is to think and act like startups. That’s why, we see so many partnerships of Corporates and startups in places like Silicon Valley. They have realized the importance of adapting to a “startup culture” to exemplify innovation and generate rapid growth.

If you’re a frustrated employee of a corporate, maybe its time to convince your management to think about “startups.” You don’t have to leave your job to start a startup; you can partner with a startup to bring the values and perks of startups inside your company. Here’s a fantastic read which was published in Rocket Space by Ritika Puri.

One of the biggest roadblocks that corporate innovators face when they’re looking to set up a partnership with a startup is resistance from management, which, by design, is set to protect the status quo. Their resistance is not unreasonable — startup partnerships can be tricky for corporations to navigate.

For one, there’s the question of compliance—especially in regulated environments where enterprise leaders are more visible than their startup counterparts, how can innovation leaders ensure that they’re taking their safest steps forward?

And then there’s the question of risk—how does an immediate-term partnership support the company’s long-term business vision? How can companies encourage innovation while keeping core business initiatives profitable? How can team members keep morale high when confronting the risks of an early-stage venture?

These questions are often enough to squash ideas before they have a chance to materialize into experiments as managers don’t feel equipped to wrangle the short-term risks of long-term R&D.

Yet, there are three simple steps you can take to proactively address these concerns and get your management team on board:

Read the rest on Rocket Space website.

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