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| Finding Synergy: How to Spot the Right Synergy between Startups |
Finding Synergy: How to Spot the Right Synergy between Startups
Finding synergy between 2 startups such that the whole partnership becomes worth more than the sum of its parts requires having both insight and foresight.
When a larger startup or corporate acquires a smaller startup, what factors come into play to judge the suitability of the acquisition?
Obviously, the teams and the skills of the 2 startups have to be able to complement each other.
Finding the right synergy is particular important for startups wanting to scale up. Finding the right partner that will help you scale and grow is important. How can your startup can leverage the strengths of the partner for mutual benefit?
Doing a SWOT analysis of each startup looking at a possible partnership will be a start. Seeing where the 2 business models overlap and also complement each other can be used to see the possible future opportunities in a partnership.
Even if a possible partnership looks good on paper, the teams have to be able to work together on a personal level also.
Is finding the partner who has the right synergy for your startup an art or a science? Probably a bit of both.
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