We've developed a very specific IoT solution for improving rooftop solar electricity and battery storage. An opportunity is emerging to partner with an experience industrial ERP and big data analytics solutions provider. The ERP people have a track record in a manufacturing but want to shift into energy utilities. The partnership would allow me to integrate with their systems and offer a complete solution to utilities. For them, I enhance their offering to utilities by opening up the solar sector customers and fast tracking access to solar data which will enable a jump start on competitors who are waiting for smart energy meter rollouts. They are 60 people with a $35million turnover ... we're an early stage startup of 3 people with a big idea and a lot of unrealised (and unproven) potential ... however you look at it its a great opportunity. What are the key factors I need to consider in taking this arrangement forward? How do I structure this partnership so as not to loose control? What's realistic ... should I chase investment, buy-out, merger, cross-licensing ... mix of these? Thanks in advance ... any considered feedback is most welcome.
Speaking from my experience, which includes helping companies avoid blind spots in acquisitions and integrations, you need to have a solid gap analysis performed on the operational and cultural aspects on the two products and companies. This will identify places where things will grind to a halt because the companies function completely differently.
If you would like to set up a time to talk more about doing a gap analysis or where to find the tools, contact me through Clarity.
Best of luck!
Ken Clark
Coach, consultant and therapist to entrepreneurs
Answered 9 years ago
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