Sealing the Deal with Large Enterprise

Sealing the Deal with LargeEnterprise:The Big CompanyCaroline McCarthy @caroTips for StartupsCheryl Yeoh @cherylyeoh

The 5 Keys to SuccessStart smallBe preparedShow your creativityRead the ﬁne printSpeak the language

Start smallBe strategic - don’t go big and fast all at once.Your future partner has to trust you ﬁrst.

Be preparedMake sure that your accounting is in order andthat their payment timeline ﬁts your budget.

Show your creativityDemonstrate in your proposal that you’ll be trueto the brand but will still innovate.

Read the ﬁne printIf you’ve been sent information about how to dobusiness with the client, read it. No, seriously.

Speak the languageIf you’re working with sales or marketing, knowtheir jargon even if it makes you cry a little inside.

Sealing the Deal with LargeEnterprise: Tips forEntrepreneurs & StartupsCheryl Yeoh@cherylyeoh

A Little Background...

Case Studies from...

The 6-Step Process1.Research -> Reaching Out

FACT 1: “People Want to DoBusiness With People They Like”

FACT 2:“Don’t Give Up. There aremultiple channels & doors”

The 6-Step Process1.Research -> Reaching Out2.Initial Informational Meetings3.Show Progress -> Send Updates4.Pitch Meeting

FACT 3:Large Corporations Want to Work WithStartups that Can Provide:1) Value-added services/product/tech they can’t build in near term2) Increased speed & time to market in a vertical

The 6-Step Process1.Research -> Reaching Out2.Initial Informational Meetings3.Show Progress -> Send Updates4.Pitch Meeting5.Integration, Timeline & Negotiations6.Launch Pilot Study -> Track Results

FACT 4:“A Partnership No Matter How Small is Akin to An Investment”

What Not To Say:1) Don’t offer to do something the company thinks it can do itself2) Don’t say how “easy” it is to integrateWhat To Say:1) How you’ve already proven yourself in marketplace against competitors2) What makes you unique (technology, traction, etc)3) Level of effort for integration - pilot study / proof of concept* Long term stability of company (funding, etc)* Depends on priorities within organization - timing is key

Thank you so much! Did you like this talk? Here’s our tip jar for charity. http://bit.ly/LadiesTrek

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Sealing the Deal with Large Enterprise

by Cheryl Yeoh on Feb 19, 2013

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