The External Innovation Partners You Need Most

Partnering with third-party subject-matter experts delivers a variety of benefits. The type of partners that will benefit your organization will vary greatly depending on factors such as your industry, tenure, objectives, and budget. Even with an empowered, skill-diverse, and enthusiastic team, partnering with external experts gives you a competitive edge. For many organizations, partnerships are key to their innovation and sustainability.

Let’s dive in and take a closer look at the benefits of external partners and how they help to optimize your as-needed and ongoing objectives.

The Top Benefits of External Partnerships

Successful leaders utilize their teams to their full potential. When you identify a skills gap or organizational need, sometimes the most efficient way to achieve your objective is with an external partner.

Cost-Effective

There are a variety of ways an external partner can be cost-effective:

• There may not be a budget for an additional team member.
• The time required to train and scale an internal team is costly.
• You may not have the technology, equipment, and supplies.
• Subject-matter experts maximize resources.
• Global partners can rapidly expand your reach in targeted areas.

Unbiased

You know you need to innovate or implement change, but you may not be sure where to begin.

• You and your team are too close to see your areas of opportunity.
• There may not be internal alignment on strategy and next steps.
• The market is shifting, and you require a strategic response.
• Past or current strategies have failed, and you aren’t clear why.
• New internal or external data conflicts with your current plan of action.

Overall Efficiency

You don’t know what you don’t know, which wastes resources.

• Minimize the roadblocks and inefficiencies of a learning curve.
• Highly specialized skills deliver on targeted objectives.
• A clear roadmap, ongoing guidance, and accountability partner.
• Enjoy the flexibility of as-needed expert support.
• Better navigate times of change and rapid growth.

Sustainability

If you always do what you have always done, you won’t sustain in the modern marketplace.

• Access external market research to better understand client needs.
• Explore strategies to take your business nationwide or globally.
• Leverage evolving digital and social media marketing strategies.
• Identify digital, AI, or VR products and services.
• Implement multi-channel and 24/7 communication.

Now, let’s dive into a few types of experts your business may benefit from.

#1 Outsourced Human Resources

Both startups and tenured organizations can benefit from ongoing and as-needed outsourced human resources. Different firms specialize in different HR functions, so select a firm that provides the services you require.

• Creating or updating your HR and benefits policies.
• Startup staffing and initial and ongoing recruiting and people pipeline.
• Unbiased candidate screening to ensure diversity and inclusion.
• Filling skills gaps including recruiting specialists such as executives and IT experts.
• Employer of Record sourcing for hiring top international talent without forming an international entity.
• Professional Employer Organization for payroll, benefits management, onboarding, tax preparation, advisory services, employee satisfaction, and more.
• Outsourced and unbiased conflict resolution.
• HR-related training, recurrent training, and initial and ongoing skills training.

#2 Technology and IT Services

Technology is essential for every aspect of business management in the digital age including daily workflow, automation, data security, remote accessibility, marketing, sales, communications, and more. Even with an in-house IT expert or team, you will need to consult with subject-matter experts to ensure you are leveraging the latest technological innovations.

• Optimizing, managing, and monitoring your secure cloud.
• Implementing and upgrading interdepartmental automation.
• Designing and developing proprietary internal and external apps.
• Advising on smart office upgrades, software, and hardware.
• Digitally optimized internal and external call routing, both local and international.
• Implementing multi-channel communications and 24/7 communications.
• Automating workflow and inter-department data transfer.
• Automated alerts for deadlines, safety, security, and communications.
• External project management and phased QA testing.
• Leveraging artificial intelligence for communication and predicting market trends.
• Utilizing AR and VR for internal training or profitable products.

#3 Branding and Creative Services

Even with an outstanding referral, 76% of people will visit an organization’s website before visiting in person or making electronic contact. So, your branding must instantly connect and engage. Even if you have an in-house design team, you may turn to external experts for a variety of creative services.

• Startup brand story, brand colors, logo design, and digital icons.
• Detailed profiles of your primary demographics including the evolving pain point your products and services resolve.
• Printed content including business cards, brochures, and letterhead.
• Rebranding and seasonal holiday product/service branding.
• Website design, website text, monthly newsletters, and email marketing.
• Social media management, paid digital ads, SEO, articles, and press.

#4 Outsourced Research

With the right research, you can keep your finger on the pulse of real-time industry trends.  Research experts have access to data that isn’t readily accessible to those outside of the research industry. They can also conduct blind product and service trials to eliminate bias.

• Provide third-party (tracking cookies) data points
• Nationwide product and market trends
• Global product and market trends
• Industry-specific trends
• Demographic-specific trends
• Deep dive competitor analysis

#5 Innovation Consultants

All of the partnerships mentioned above drive innovation, but some partners specialize in innovation strategies. Some consultants’ role is to guide you in the right direction with ideas you are already working on, while others help you to identify organizational next steps.

• Financial advisors help you identify profitable business investments.
• Accountants and business consultants help you identify what products or services to add, evolve, or retire.
• Digital product and service consultants help you create automated online revenue streams and remote access to services.
• Data experts can mine internal data points to identify new demographics, segment existing demographics, and advise on product evolution.
• Nationwide and global expansion consultants help you expand your reach in targeted areas.
• Organizational maturity assessment providers measure your in-house maturity program or help you develop an in-house program.
• Innovation maturity assessment providers utilize strategic tools to help you and your team scale your innovation programs.

Ready to Scale Your Innovation Program?

If your in-house innovation program has room for improvement or you would like an unbiased perspective, we invite you to reach out to IdeaScale. Our strategic approach optimizes success rates and accelerates ideation development.