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This is all good advice. A note jumping through the legal/paperwork hurdles with large companies: be prepared for it to take a long time. A very long time in s
by siruncledrew 7y ago
This is all good advice.
A note jumping through the legal/paperwork hurdles with large companies: be prepared for it to take a long time. A very long time in some cases.
It all depends on who you’re working with, how big the company is, and how much money the deal is worth.
- goatherders 7y agoYes, this. I've had large enterprise deals that were 'closed' in days or even hours that then took weeks or months to get through legal.
- brey 7y agoI've been through deals with large financial institutions that have taken 2-3 years from an initial incredibly positive demo and PoC and strong buying signals, through to a signed contract. IMO going through that successfully is also sending a signal that you have sufficient endurance - there's a large risk for a corporate to sign up for a long contract with a startup, they don't know how long you're going to be in business for. If the startup doesn't have the appetite to spend 2-3 years to get a contract over the line, then they aren't going to be a stable partner for the long term. You need to also have sufficient numbers of small/medium scale deals so you're not 100% relying on elephant hunting.
- joewee 7y agoSometimes you can do a deal for a smaller dollar value, less intense legal / financial hurdle. Get on the approved vendor list, receive income while you negotiate a larger more complicated approval process for a larger deal.