With markets becoming more competitive themselves, it’s vital for businesses to build trust and credibility with both existing and potential customers. Collaborating alongside a business that has already gained a positive reputation in one market allows the other to leverage that existent trust and start to enhance their own standing with customers. Indeed, if the products provided meet customer standards, the credibility of the collaboration is assured and gives customers a reason to put their faith in these companies in future circumstances.

Having built that base to let collaboration and innovation sprout, it’s important to define your goals and determine the reasons why your business wants to collaborate in the first place. This is vital, since having no clear measure of what success looks like means that any work can’t be properly assessed. Defining goals must be done with your potential collaboration partners as well, because if nobody has any idea what they want to achieve, all prior work may become null and void since each collaborator wants something different out of the project.

More info: Open Source Network Monitoring Tools