Partnerships

As in any other company, business partner can be crucial for our businesses, especially at the very early stage - it is important that both sides of the agreement to complement each other, but also that there are some common ground. As we've learned from a video, what defines a partner is shared economics, mutual success or failure, co-development and/or invention and a common customer base or a profile. There are also a lot of reasons to have a partner and one will depend on the stage on both partner. As per video, there are main five: shared economics, economics of scale, money and resources, access to customers, access to marketing/brand. It can be (but not limited to) in a form of strategic alliances, joint ventures, traffic partners, coopetition, joint business development and suppliers. For us, as an alpha start-up, partnerships are critical and can undermine the success of the business. At the beginning, we've identified a number of general partners, such as technical support and vendors (restaurants/cafes/bars). Later, we've realized that partnership is much broader term and can include a number wide range of partners and overlap other sections of our Business Model Canvas. First, we invalidated sports and health shops and we've decided to concentrate on restaurants and cafes. We've re-segmented our technical support to website and mobile application support and technical support for data analysis (for vendors and data buyers). We added Google Adsense as well as we feel they are playing an important role in our revenue stream as an advertising platform.