Map Data: Kaoshiung, Taiwan
Google Earth, Google Maxar Technologies
Ask yourself: Would you rather be a vendor or a partner?
Seeking mutually beneficial partnerships is a stronger model for sustainable business and expanding deal size. The word “partner” implies a more committed and collaborative relationship than the word “vendor”. Partners share challenges and opportunities with one another, achieving more together than what would be achieved had either simply mentioned a problem once well scoped than another happened to have a solution for.
In countries with larger enterprises spanning multiple sectors, there is a risk of missing opportunities for strategic partnership development because vendors focus on the volume of what they can do vs. the magnitude of a broader strategic relationship. This leads to a transactional approach in deal crafting. The organizations plow ahead with any one of their solutions, selling as much as they can “as is”. The typical fast-growing Western firm tends to have more of a culture of aligning organizations and teams around a common purpose and then executing that plan. This creates a challenge when those same values aren’t similarly held elsewhere
How does the fast-growing Western firm partner with this kind of larger enterprise in the international theatre?
BYG Advantage is able to accomplish a different level of interaction with firms that might otherwise be dismissive of partnership potential. There are five major ingredients to this approach:
The combination of these five factors allows BYG advantage to help target clients effectively structure themselves around strategic focus.
So what does success look like?
Let’s consider the partnership that BYG Advantage established and manages between their client Trustonic and their client’s clientOppo. At first, Oppo and Trustonic would sign a one-year deal, and that was it. There were no discussions about how to expand the business in a more significant fashion with enduring effectOppo would come back with only one month left to renew and ask for a discount “because they had been loyal for a year” plus they were due a discount simply “because”. At that point, there was no more time or capacity to have a real discussion about what could go better for Oppo in a renewal.
The BYG team evolved this. They convinced Oppo to go about renewals in a much more proactive way. Establishing the right relationships at the right levels enabled BYG to earn more open dialogue about additional peripheral challenges that Oppo was facing. This led to the establishment of a more regular cadence of meetings with the budget controllers, which allowed for Trustonic to lock itself into the client’s budgeting and planning cycle. In each new fiscal year, when Oppo began again to map out their top strategy objectives, BYG could talk about how Trustonic’s technology could help fit in. The abundance of lead time would then allow for any required technical adaptation, which led to further value delivery and progressively more and larger deal flow.
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