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Future planning

Innovation

Build partnerships with peer businesses

How to cultivate external contacts to develop new offerings.

Explore partnerships with businesses in a similar sphere to yours, but have a clear idea of what you want from collaborating. Start by talking to other business leaders, for instance at your sector’s networking events. If you sense that your approaches to business are compatible, begin by exploring joint projects which can add value to both businesses. In her guide to business partnerships, biotech entrepreneur Brigette Bard advises that any formal partnerships should be set down in writing, including items such as actions, dates and responsibilities, to prevent misunderstandings.

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