Taking the bold step to start your own company is very brave, and quite scary. You want to succeed, but the likelihood of achieving such a reality is quite low. Many startups fail, with only a handful hitting “the big time.” So when someone decides to let their entrepreneurial spirit out, what kinds of things can he or she do to increase their company’s chances of survival?
The answer is far from straightforward, as every company is a little different, and every set of circumstances surrounding that company is unique. But, one place to start is to consult with the company you supposedly aspire to be: the big companies and the corporations.
What can a startup do to attain some of the knowledge and experience of a bigger company? Try some of these tactics to help out your startup:
- Attend corporate or corporate-sponsored events. Not only could you learn something from the actual event, but it is the perfect place to network and get some free advice.
- Don’t assume that corporations will be unwilling to help you. Bigger companies aren’t always the inflexible giants they are portrayed as. You may be surprised how helpful they can be.
- Pay attention to how the bigger companies invest. This is an important aspect that many smaller businesses may be blissfully unaware of, or simply intimidated to even address. Investing in other companies and entrepreneurs can be hugely beneficial to an aspiring company, and learning from the companies who have done before (and, presumably, have done it better given their size) is the best way to improve.
Source: Entrepreneur, “6 Ways Startups Can Play Nice With Corporations,” Yoram Yaacovi, April 7, 2014