Don’t let lack of a vision stop you.
(After all even if you’re not thinking of collaborating, it’s worth thinking about if you haven’t already.
Record it into your phone or write it down somewhere whether digitally or good old fashion pen and paper, even if you just start with questions, bullet points or ideas.)
Okay so plan in hand are you thinking you need to get your team to learn more skills. Obviously that takes time. You could hire more people or outsource and pay for what you don’t have already and this all takes money to cover the costs. Or you may have won a great new contract so you know where the money is coming from.
But just suppose there’s another route. That’s where collaboration comes in.
The next step needs you to be honest with yourself above all. There is no right answer but if you want to collaborate the answer has to be yes. If you’re thinking about it, a maybe will do for now. Shorthand for this question is where you stand on the TRUST dial. By the way, at least initially this is not about your precious assets like intellectual property - more below on things that will definitely need legal advice. So here goes with that question:
This might mean being willing to discuss strategic aspirations, finances and technical capabilities and resources. You need to be open to getting acquainted and finding the best mutual fit.
Where would you see yourself on the Collaborate Ladder, at least initially. It’s about discussing things like where each partner is based, how collaboration will be developed, if you might need a business entity or some kind of agreement for the collaboration and potential funding sources. Of course it might be potential funding that is the spur to get collaboration going.
If you’re looking to go transnational you might need to think about the what and where of a business entity or contract. This could be some form of partnership, registered company or co-op. It is even possible to create a European Coop.
This is an example of a handy guide to business entities in different countries.
“DLA Piper's Guide to Going Global series is designed to help companies meet the challenges of global expansion. The series reviews business-relevant corporate, employment, equity, intellectual property and technology, and tax laws in key jurisdictions around the world.