As the new year 2020 approaches with its lots of possibilities and opportunities, now is a perfect time, to start making your start-up attractive, for larger companies to partner with.
Partech Africa, a Venture Capital firm reports that, 146 start-ups, in 19 African countries, raised $1.16 billion, for African digital entrepreneurs, in 2018.
Nigeria, South Africa and Kenya received 78% of the total funding, followed, closely, by Egypt.
The tech ecosystem is, very big, with multiple industries that will, only, grow through well tailor-made partnerships and collaborations.
Irrespective of how you build your start-up to be self-sufficient, there is still the underlying need, to strike collaborations and partnerships, as only through this, will your start-up grow.
“The biggest mistake that, small companies make is that, they don’t do enough homework; they think more, from the small business point of view, as opposed to thinking, from the large business point of view.” – Brant Slade, Co-author of Think BIG.
Your start-up, offers a solution, but then, how do you convince large companies that, partnering with you is, the best fit, that will, also, benefit them?
“If I want to grow big and do it quickly, the best way is, to work with the world’s biggest companies, as they can accelerate your cycle, much more quickly, than any other company can” stressed Tom Szaky, Founder TerraCycle.
Below are some steps, you can take to convince large companies, to work with your start-up:
The very first step is, to condition your mind and start thinking big. You must see yourself and think like, a big brand, to partner with one.
Big brands set high targets and they do not think of small amounts.
They think in seven figures and in big numbers. You must key into this and start thinking this way.
Whatsoever proposal that, you are pushing forward, should be daring and convincing, with verified facts.
Big companies are always on the lookout, for some attributes and opportunities, before they partner with a start-up.
A start-up should, clearly, analyze and state the long-term and short-term opportunities that are available – what is, actually, “in it” for the big organisations.
Sell them these opportunities and you would not have to convince them, that much.
Immediately, you identify the big companies that align with the solution that you are providing, the next move is, to pursue, aggressively, and connect, with one of the workers there.
The worker may be one of the Executives, or, someone lower. Just connect. Be very persistent, in sending emails and phone calls, as this facilitates the ‘in-person, meetings.
You can, also, take it a bit further, by inviting one of the top decision-makers, in the organization, as a guest speaker to an event, organized by your start-up.
You Don’t Have To Pitch
Most start-ups, looking to partner, with big organizations, make the mistake of pitching, during their first contact, with a key decision-maker.
This move is, wrong and it may not give you what you want.
You must be strategic about all your move and think ten steps ahead.
Once you strike an in-person introduction, take your time and do not use it, as an opportunity, to suggest a partnership, with your company.
Let them enjoy talking to you, on a neutral level and they will be the ones to ask you, what you do and how they can partner with you.
Perfect Your Pitch
When it is time to pitch your idea, hit the nail on the head and do not give them false figures.
Sell your start-up to them and let them feel, as if they are in control.
Let them know that, partnering with your start-up to boost their revenue, exponentially.
Finally, relax and closely monitor what is happening, from afar.
Periodically, call up your contact in the organization and ask how things are going, on your proposal, instead of continuously bombarding the entire organization with unending calls and emails.
There is a high probability that, you may piss them off, to start rejecting your calls and emails.
Featured Image: tuchangemakers.tulane.edu