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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Advice on protecting your wellbeing, self-confidence and mental health from the pressures of starting and running a business.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

How to pitch to corporate partners

Transforming a concept into a viable product takes more than just passion, no matter how brilliant it may be. Dave Evendon-Challis, VP of Innovation at RB, explains how linking up with corporate partners could help take your ideas to the next level

Driving innovation is important for all businesses that want to grow. However, as many of us know, juggling the excitement of a new discovery alongside the day-to-day of running a business can be a challenge.

As the saying goes, it's often not what you know but who you know. To take an idea from a concept into a fully-fledged business proposition generally requires help from those with market expertise and consumer insight, who can make investments in areas such as product development, marketing and PR.

But getting in front of the right people can be tricky. In fact, research from Enterprise Nation, commissioned by RB, found that although 66% of UK entrepreneurs would consider partnering with a multinational organisation to scale their business or take it in a new direction, they haven't yet. The vast majority (86%) do not even know where to start when it comes to seeking these prized potential partners.

UK entrepreneurs are missing out on opportunities to draw on the expertise of large corporations that could help them leverage product innovations and, ultimately, boost their bottom line. But how can they join the dots?

1. Target prospective partners

Rather than blanket pitching numerous companies, identify only a handful to target. You then need to investigate what they have to offer you - are they the right fit? Consider how you would benefit them, so that you know what both would bring to the table in the partnership.

2. Make corporate connections

Getting your ideas heard can be hard. That's why you need to look out for opportunities to connect with big corporates, whether that's at key conferences, trade shows and networking events, through online portals or on LinkedIn.

Once a connection has been made, focus on making an impact straight away. Critically, have your elevator pitch ready to grab their attention.

3. Get in the mind of the consumer

When it comes to preparing to pitch for a partner, you must be clear on what your unique offer is from a consumer mindset. This means translating any technology jargon and technical benefits into consumer benefits - the stronger the consumer insight, the better the pitch.

4. SWOT up

You'll need to demonstrate to potential partners that you understand the competitive landscape for your innovation on a national and, ideally, an international level. You must be clear on where the opportunity lies, while also having an understanding of potential challenges to navigate, such as exporting regulations.

5. Soften the pitch

Of course, corporates want the facts, details and data, but a stand-out presentation is about much more than that. The best pitches are the ones where you tell a story and really engage prospective partners.

Don't be afraid to delve into the different members of the team, their personalities and how they can help grow the business.

6. Be open to new directions

Once all is unveiled to your prospective partners, they may have new, different ideas to help propel your business. Be prepared to explore new directions. Innovation stems from collaboration and fresh perspectives. Stepping back and listening to suggestions, no matter how outlandish they may initially seem, can be rewarding in the long run.

In as little as 12 months, an agile partnership can deliver a new product to market. While it may feel daunting to pitch to a corporate, there's a lot to gain - market expertise, help navigating regulations, product development and more.

Equally, they're looking for fresh ideas to grow into innovative consumer products. It really is a win-win situation. So, what are you waiting for?

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