In a recent blog post about finding a local partner in Saudi Arabia, I discussed how to make your company and product visible to potential partners, encouraging them to approach you for collaboration.
There are essentially two ways to obtain a list of prospective partners in Saudi Arabia: actively seeking them out through your network or social media or making yourself visible so they come to you.
Many companies explore the first approach by searching for companies on LinkedIn using a sales navigator, then sending a direct message with a simple proposal.
However, the more beneficial approach is to make yourself and your product visible through exhibitions, online events, or other means that attract potential partners to you. This approach often results in receiving similar messages from prospective partners, putting you in a position of strength to choose the best one.
Regardless of the approach you choose, you’ll eventually have a list of potential partners with varying levels of expertise, connections, and interest in collaborating with you.
Selecting the right partner is critical for bringing in new clients and generating revenue. Many companies make the mistake of choosing partners based on their connections, wealth, or hospitality, rather than their genuine interest.
Partnerships with wealthy and well-connected individuals may not yield results as they may not have the time or energy to dedicate to your product. Amazed by the hospitality, most companies overlook the most important factor for a successful partnership: the partner’s level of interest.
Interest can be gauged through two main characteristics: genuineness and reciprocity. Genuinely interested partners don’t make empty promises and have a running business related to your sphere. Your business should represent a significant business opportunity for them, generating at least 10% more revenue.
Additionally, interested partners are responsive to your emails and messages, valuing timely and accurate communication. In Saudi Arabia, partners who are not interested simply don’t respond, unlike in other regions where they may explicitly say no.
Reciprocity is another key characteristic, where your partner is as interested in working with you as you are with them. Partners who show excessive interest, such as following up on unanswered emails, giving numerous calls, or requesting unnecessary meetings to gauge your interest, may have weaknesses such as lack of connections, expertise, or reputation.
Choosing the right business partner in Saudi Arabia is crucial. While some partners can bring millions, others may make empty promises, sign exclusive agreements preventing you from working with others, and do nothing to promote your business or product.
