The startup playbook for partnering with big business
Corporations are desperate to overhaul their culture and the perception that they are giant, bureaucratic dinosaurs too slow to react in a rapidly changing business landscape. Many are trying to be more innovative and agile, like a startup. One easy way to achieve this goal is through partnering with or acquiring a startup. Corporate venture capital (CVC) now makes up 25 percent ($18 billion) of all venture capital dollars in North America.
The Startup Gold Minereveals how the world's largest and most prestigious brands make innovation decisions, including new product launches, vendor-startup partnerships, and even billion-dollar acquisitions. The book also details the ways startups can leverage corporate strengths and weaknesses for mutual benefit. Readers will learn
-Why the "innovator's dilemma" is leading large companies to seek out partnerships with startups
-How to close a deal with a large company, from first connection to getting paid
-Strategies to troubleshoot common land mines that startups encounter when working with large companies
-Ways to navigate the convoluted corporate landscape without spending a fortune on conferences and consultants.
Author Neil Soni draws on his experience as an entrepreneur and as an external innovator with premier brands like Estee Lauder, MAC, and Smashbox to reveal large companies' inner workings, as well as how startup founders and employees can use this knowledge to close the biggest deals of their lives.
PRAISE FORTHE STARTUP GOLD MINE
"A really useful guide for startup founders and big company executives alike. Packed with practical steps and common mistakes, this book is one to read attentively and keep handy for future referencing."
--Maria Thomas, former Etsy CEO, SmartThings CMO
"The Startup Gold Mineis THE playbook for getting your startup-corporate deals across the finish line. Every founder needs to read this!"
--Justin Mares, founder of Kettle & Fire, coauthor ofTraction
"Over the last decade, big companies have completely changed their approach to innovation, with startups at the center of those efforts. The Fortune 500 are turning to startups for innovation across every facet of their business, ranging from marketing and sales to customer service and logistics. Gone are the days when 'no one ever got fired for buying IBM.'"
--Dave Knox, author ofPredicting the Turn, cofounder of The Brandery, CMO of Rockfish
"A productive relationship with the right corporate partner can unlock years of growth for a startup. On the other hand, there are numerous pitfalls along the way that can have you running in circles. The principles inThe Startup Gold Minegive founders the proper framework to navigate the startup-corporate intersection to get their deal done."
--Sean Ammirati, partner at Birchmere Ventures, author ofThe Science of Growth
"Giftologywill get you in the door.The Startup Gold Minewill help you close the deal. This is a must-read book for anyone selling into large organizations!"
--John Ruhlin, author ofGiftology