Last week startups, entrepreneurs, and investors gathered from all over the Midwest in Kansas City to attend TechWeek KC. It was a prime example of how startup culture (and success!) is not limited to the coasts. The best panel, in my opinion, addressed the unique challenges that come with trying to close a large institutional client as a B2B startup, as well as processes and hacks to overcome these particular hurdles. What follows are the high points from that panel, as well as from my own experience in a B2B startup before transitioning to legal practice.
Challenge #1: No one gets fired for keeping the status quo. If you’re pitching your product or process to big boys like Amazon, Coca-Cola, etc., then let’s all assume that you truly believe it’s something of value to them. It’s amazing how, while you can perfectly see that your piece of innovation is going to change the game for them, your initial point of entry to the (prospective) institutional client often doesn’t seem nearly as excited. What you’re not seeing is the calculus going on in their head: what’s MY risk versus MY reward if I were to pitch this to my superior? Unfortunately for you, and your contact’s company, most people fear failure. They’d often rather not try than fail and face any potential negative consequences, especially embarrassment among coworkers.