“None of us is as smart as all of us.” – Ken Blanchard ~ American author and management expert In order for our economy to continue to grow and evolve, we must create an environment where startups and their counterpart incumbents can coexist. The only way that new businesses will continue to be developed is if the individual has a justifiable hope that they can be successful selling something that provides value to the community. But the responsibility falls on those who already have market share. It is inefficient to spend money on strengthening the barriers to entry because we can increase our profits much more so when we turn a competitor into a partnership. The fear of losing ground to the next generation companies, although understandable, stops large organizations from gaining far more ground in the future through collaboration. We need to view startups, no longer as bumps in the road, but as assets in regards to research and development, intellectual property, and marketing via grassroots co-branding campaigns. A new consumer base is reached when we tap into the startup’s following which allows us to expand them into our own. The progressive attitude of the incumbents will influence public perception of their companies and will inevitably be one of the best ways they can market themselves for return on investment. As time goes by the relationship will evolve whereby the organization is no longer lifting up the ‘little guy’, it will be the small businesses propping up the organization. When incumbents strengthen startups and provide hope for other individuals, we has consumers are provided better products in a healthier business environment, where partnerships are the backbone of the community. (When mountains come together beautiful things are created; image via #Pixnio) #KenBlanchard #QuoteOfTheDay #Startup #Startups #Leadership
