This is not just an idea, it’s a proven strategy.
Strategic partnerships are essential for small businesses in government contracting. They enhance capabilities, improve access to opportunities, mitigate risks, foster innovation, and boost credibility. Proactively seeking and cultivating these relationships can provide a solid foundation for growth and success in this competitive arena.
Check out some examples from large firms that have used this strategy to scale and grow.
Boeing and Lockheed Martin – United Launch Alliance (ULA):
Boeing and Lockheed Martin, two aerospace giants, formed a joint venture called United Launch Alliance (ULA) in 2006. ULA was created to provide cost-effective and reliable space launch services to the U.S. government.
The partnership has successfully launched numerous satellites and space missions, becoming a leading provider in the space launch industry.
IBM and Apple:
IBM and Apple, traditionally competitors, formed a strategic partnership in 2014. The partnership aimed to bring IBM’s big data and analytics capabilities to Apple’s iOS devices.
The collaboration resulted in the development of industry-specific apps and solutions, enhancing enterprise mobility and transforming business processes.
Toyota and Panasonic:
Toyota and Panasonic teamed up to form a joint venture called Prime Planet Energy & Solutions in 2020. The partnership focuses on developing advanced automotive batteries.
By combining Toyota’s automotive expertise with Panasonic’s battery technology, the joint venture aims to accelerate the development of electric vehicles and promote sustainable transportation.
Microsoft and General Electric (GE):
Microsoft and GE partnered to bring GE’s Predix industrial IoT platform to Microsoft’s Azure cloud in 2016. The goal was to provide industrial businesses with advanced data analytics and operational insights.
The partnership has enabled companies to optimize their operations, improve efficiency, and reduce costs by leveraging the combined power of IoT and cloud computing.
Starbucks and PepsiCo:
Starbucks and PepsiCo formed the North American Coffee Partnership in 1994. The partnership aimed to create a ready-to-drink coffee market.
This collaboration led to the launch of popular products like Starbucks Frappuccino, transforming the beverage industry and significantly boosting both companies’ revenues.
What teaming partner might help you grow and scale? Some tips to find the right partner
- Attend and network with potential partners at pre-bid meetings, conferences.
- Successfully subcontract with a potential partner firm first, then pursue a teaming agreement.
- Consider not only complementary skills, but certifications that may get you into closed doors (e.g. a SDVOSB company that could provide access to sole source opportunities).
Remember, think of how this partnership can be a “win-win” for both parties.
