Tips

Tips on Pursuing Corporate Partners & Making Deals Happen

1.  You can’t sell anything to anyone.  You have to help them buy.

2.  You must connect what you have into a current project or top management directive that they have.  Make them look good to their management and you will win.

3.  “The art of raising money is the art of reducing risk!”  This is even more essential to doing CP deals.

4.  Spend a lot of time learning about and talking about their customers — what problems trying to solve, how address now, their market pressures, requirement to get them to try new products, price sensitivity, etc.  This also build your relationship and trust with the CP.

5.  Corporate partner deals happen when you help them believe that you will grow their businessnot when you impress them with your technology.

6.  Keep in mind that corporate managers are first & foremost “employees”, and they rightfully will look out to protect their position in the company who pays them way before taking risk trying out your new innovation.

 

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Competition

Entrepreneurs, especially technical ones, often claim that “we have no competition.” In addition to being a red flag for investors, this statement raises a more fundamental concern…

If you don’t have any competition, you don’t have a market! Either the customers is using an indirect competitive solution or they have decided that it is not a problem worth solving.

Entrepreneurs need to focus on the problem (from the customer’s perspective), and far less on the technology or intellectual property.

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