[Trigo] From The Eyes Of A Startup CEO: How To Build A Company With Corporate Clients As Your First Customers
Michael Gabay discusses the potential benefits and challenges of collaboration between startups and large corporations. It highlights the incentives for both sides, such as startups accessing the corporation's markets, resources, and financing, while corporations benefit from faster innovation and early access to new technologies. A study by Unilever suggests that most corporates and startups will be working together by 2025.
To succeed in corporate partnerships, the article suggests several best practices for startups:
1. Be bold and persistent: Project confidence in your abilities and solutions, and stay top of mind with potential corporate partners by being persistent in your approach.
2. Be patient and understand corporate processes: Corporations often have longer decision-making processes and hierarchies. Understanding and accepting their way of functioning can lead to more productive conversations and rapport.
3. Mind the gap: Recognize and acknowledge the cultural differences and potential clashes between startups and corporations. Openly discuss and find common ground in areas like communication, expectations, and delivery.
4. Make it personal: Show your commitment and investment in the relationship by going the extra mile. Find a balance between forming a business relationship and a working friendship with your corporate partner.
5. Maintain open communication and transparency: Be bold in your approach, but also be open and honest about any obstacles or setbacks you encounter. Keep your corporate partner informed and involved in the process.
6. Believe in yourself and project self-confidence: Develop self-confidence in the value of your innovative product or service. Corporations are attracted to startups that bring value, and projecting confidence can help you approach them with courage.
Overall, the article encourages startups to find a middle ground and embrace collaboration with large corporations. By following these best practices, startups can increase their chances of successful partnerships that lead to mutual benefits and growth.
Read more in Forbes
