Abstract Sessions: Creating Successful Partnerships Between Startups & Large Scale Enterprises

Abstract Sessions is back with another exciting episode. This week, Pat sits down with Lauren Scott-Phillips, SVP & Head of Healthcare Partnerships at Ready, Set, Food! to chat about building successful business partnerships.

In today’s age of rapid innovation, startups and smaller players in the tech industry are pushing well-established corporations to rethink their strategies and workflows. Whether it’s through pilot programs or design collaborations, these nimble companies are often the catalysts driving big organizations to approach their business differently.

However, for smaller companies looking to partner with industry giants, the importance of forming strong, lasting relationship should not be overlooked. Establishing trust is a fundamental aspect of business development, and certainly a way for a smaller companies to prove their worth in a sea of impressive products and prepositions. As Lauren emphasizes,

“These larger organizations have so many organizations coming at them for the deal, so you're just one in the pipeline...you have to be unique. You have to be someone they actually want to talk to."

The early stages of a deal are crucial for establishing a solid foundation. It’s at this point that smaller companies have the opportunity to demonstrate their commitment to growth and long-term collaboration. As Lauren notes, she never wants her business relationships to feel like “a quick transaction,” but rather aims for partnerships that will last and evolve over time.

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https://open.spotify.com/episode/0f6GF2Ig5LqM1clA5LB8rv?si=5e0617a52eb2443d

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