If it’s going to survive, a startup needs to grow. In my experience, strategic partnerships are the best shortcut to the kind of explosive growth a new business needs, to get going. Case in point: When our startup, CrayPay, aligned with key influencers in vertical markets, we gained 15,000 new users for our app in only four days.
Of course it’s important never to chase a strategic partnership if the end goal is only about money. That kind of thinking gives one partner an upper hand that can limit mutual opportunity in the long run.
