You have probably noticed that the startup boom is reshaping industries everywhere. New and innovative small teams are creating novel concepts, products, and services at an increasing speed, with fewer resources than corporations ever could.
For the corporations, this isn't a threat but a great opportunity. Gladly, many established enterprises, such as GE or Microsoft, are already collaborating with startups. However, there are still a lot of concerns regarding collaboration with startups, especially in the traditional industries. In order to turn your view from the concerns to the opportunities, I decided to list a few of the benefits.
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The benefits of partnering with a startup boil down to one common denominator: close collaboration. For a startup, all the customers, regardless of size, are very important. References are needed, and this means that they are willing to run the extra mile, and serve you in the best possible way.
Because the teams are small, you'll get your message through even to the highest decision maker fast. In many cases, your contact person may even be the CEO.
The close collaboration also means flexibility. It is natural for a startup to be on the markets with a product or a service that is still in development. Thus, startups are open to feedback (they usually even ask for it) and develop their offering further in accordance with their customers' suggestions.
So, you do not only have a good communication channel to your collaborator, but also an actual power to get your needs implemented in the startup's product.
For example, in Deveo's case, we practically develop our product with our customers. Their feature ideas and needs actually form our roadmap. This is a huge advantage that distinguishes us from our large competitors.
The third key benefit, which stems from the previous two benefits, is the speed of development. Small teams do not stumble on bureaucracy. This allows them to act fast to different situations.
Not too long ago, one of our customers suggested a new feature to our product. Because it was a good feature that would benefit also other customers, it was published a month later. This rarely happens in a large established company.
If you have an idea for a Deveo feature, you can suggest it here.
Startups are both the source of disruption and the solution to the challenges resulting from the constantly changing modern business world. They may lack the track record and the resources of large corporations, but they have something better: true passion and the willingness to truly collaborate and engage their customers rather than just benefit from them.
So, next time you have a possibility to choose between a startup and an established corporation, choose the startup. You will be pleasantly surprised.