you would like to facilitate the introduction - MAKE IT EASY FOR THEM Some people ask the target for permission first (aka Double Opt In) - but that’s a two step process I prefer...
little bit of research and extra effort go a long way Personalize it, make it sound like it came from a human being - it’s coming from YOUR VOICE. What’s in it for THEM, why should THEY care If you’re asking for 3 intro’s, send 3 separate emails
sent it to no-one” Everyone will assume the other person has it You’re adding work for them to figure it out. Best to send TO one person, and CC others if they need to know.
letters in email. On the first reply, the receiver can BCC the originator “thanks for the intro - moving to BCC to save your inbox” Beware BCC’s of the FYI category - Forward instead ACK as in the original modem response: acknowledge “On it” “Got it”
character follow up to the original introduction with what resulted or where things stand can make a world of difference it’s feedback to all parties involved
follow up once (usually) or at most twice (sometimes) in a reasonable period of time. “bumping this up to the top of your email.” “The deadline is on Monday and I wanted to be sure you saw this...” “Make sure this wasn’t stuck in your Spam folder...”
“It seems that First Round is going to pass on my company...” I find it forces and answer at least 50% of the time, and more often than not it’s positive
work with [a new tech start-up/new technology/speaker/consultant]. It’s going to require an investment of your time and resources and you’re probably considering other [vendors/ companies/etc]. Why don’t you take your time to discuss it over? I really want you to select the right partner.”
> Building your business • Getting into market > Time spent in market • Press release > Partnership agreement The Result: Wasted resources. Burnt bridges. Lost focus. Startup Death. 2 The Result: Wasted resources. Burnt bridges. Lost focus. Startup Death.
all sides feel their contributions are sufficiently rewarded by the value received. Create a The Startup Perspective: 3 $0 Partner Big Co. $$$ Create a product Enhance our brand Cut costs Reach new customers Enter a new market
plenty of options to create growth. Create a The Big Co. Perspective: 4 $$$ Partner You $$$ Create a product Enhance our brand Cut costs Reach new customers Enter a new market
partner, you must provide more value than every other option. Create a 5 Or waste a lot of time trying. $$$ Partner You $$$ Create a product Enhance our brand Cut costs Reach new customers Enter a new market
one potential avenue for achieving growth. In order to partner with your startup, you must provide more value 6 you must provide more value than every other option to pursue an opportunity.”
all sides feel their contributions are sufficiently rewarded by the value received. Communicating Value 2 7 How do you find your way through an organization to show them the potential for your partnership?
all sides feel their contributions are sufficiently rewarded by the value received. Having Value Communicating Value 1 2 8 What value can I create for my company and another company? How do you find your way through an organization to show them the potential for your partnership?
all sides feel their contributions are sufficiently rewarded by the value received. Having Value Communicating Value Delivering Value 1 2 3 9 What value can I create for my company and another company? How do you find your way through an organization to show them the potential for your partnership? Can you deliver on the promise of the value in order to keep a deal alive?
all sides feel their contributions are sufficiently rewarded by the value received. Having Value Communicating Value Delivering Value 1 2 3 10 What value can I create for my company and another company? How do you find your way through an organization to show them the potential for your partnership? Can you deliver on the promise of the value in order to keep a deal alive? What’s in it for [you/them]? Who cares? Is it still worth it?
sides feel their contributions are sufficiently rewarded by the value received. Having Value What is the Value Received? 11 Having Value What value can I create for my company and another company? What’s In It For You? • Economic Value • Brand Value • Option Value • Product Value What’s In It For Them? • Economic Value • Brand Value • Option Value • Product Value What value does your company need? Is partnership the best way to create that value?
= A successful partnership requires that all sides feel their contributions are sufficiently rewarded by the value received. 12 Communicating Value How do you find your way through an organization to show them the potential for your partnership? • What companies need the value you can create? • Where in the organization does your value resonate? • Who is motivated to advocate for you? • How can you establish those relationships now? Organizational Value Individual Value +
It? A successful partnership requires that all sides feel their contributions are sufficiently rewarded by the value received. 13 Delivering Value Can you deliver on the promise of the value in order to keep a deal alive? • Are we getting what was expected? • Have our priorities changed? • Are we growing together or apart?
firstround
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