YOU’RE NOT IN THIS ALONE: LEADING THE WAY IN GLOBAL EXPANSION WITH STRATEGIC PARTNERSHIPS
by Anna Vorobiova, Head of Business Development at Nix United
As 2022 comes to an end, business leaders and decision-makers are getting ready for the start of 2023, giving priority to the goals that will ensure their success, despite the constraints of the current world. They need to think carefully about the strategy that will allow the company's ability to grow in 2023.
The global COVID-19 pandemic crisis, the Russo-Ukrainian War, and supply-chain disruptions in 2022 created further blocks to growth; global growth slowed from 6% in 2021 to 3.2% in 2022 and is forecasted to slow down even more to 2.7% in 2023 by a recent IMF report.
A strategic partnership is one way to decrease the risk of business stagnation. Finding the right strategic ally is more important than ever for business expansion to reduce instability-causing factors. A strategic partnership can give you access to a larger pool of resources, expanding your customer base and your opportunities for business growth. Each ally will be able to contribute various perspectives, skills, and resources, which may result in a more inventive and effective approach to problem-solving.
Partnerships may vary—they can include support in tech areas of the business, improved customer service, access to an extensive network of industry professionals, increased brand reach, etc.
Do comprehensive research, evaluate the skills and strengths of both partners, and determine a mutually beneficial plan of action before entering into a partnership. You can overcome weaknesses and take lead positions in your industry by supporting one another in business. Make your priorities clear to potential partners: whether you go above and beyond with innovative solutions, or you rely on contributing to stability in dynamically changing business environments, or your primary task is to reach a new market. It’s worth mentioning that collaboration that wasn't carefully thought out may slow rather than facilitate progress.
The key to a successful strategic partnership is genuinely caring about your partner’s success and diving deep into each other's processes and goals. Moreover, strategic collaboration needs open communication and establishing trustworthy relationships to prove that you are a reliable and devoted ally in a long-distance race.
NIX United has almost 30 years of experience in building not only high-end IT products, but also proven, strong partnerships. By moving the core research and development powerhouse to Budapest, Hungary, due to the war in Ukraine, the company was able not only to maintain current partnerships, but also to strengthen them, once again confirming its reliability and resilience.