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Four Tips for Picking the Perfect Business Partner

Do your research and avoid buyer’s remorse

Micki Vandeloo
Wed, 08/03/2016 - 10:13
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It’s so important for manufacturers to find and cultivate valuable partnerships. They can help manufacturers expand their service or product offerings, make their processes more efficient, and help specify and procure just the right equipment.

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When manufacturers launch a new product or are making major changes to an existing product, they often need to procure valuable partners to make the effort successful. These partners may be familiar to the company, such as previously used vendors, equipment manufacturers, or consultants. Other launch needs might not be able to be met by current suppliers, so companies must then search for new partners.

This necessity often brings up questions such as, “How do we know where to go to find the perfect partner?” “How do we know when we’ve found a good one?” and “How do we know whether they will provide what we need when we need it?”

If you’re getting ready to enter into a new partnership, here are for four tips to help you make the perfect selection. I’ve learned about these by working with multiple Manufacturing Extension Partnership (MEP) centers. Some of these tips are also helpful if you’re engaging current partners for new endeavors.

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