My start-up has built a very smart way of doing 360 degree manager reviews, which solves a real problem in the industry. We've redesigned the value-added feature so that it could be used to improve ANY existing 360 degree survey (with some integration). The idea is to open it up to our competitors so they can improve their own offerings to their clients. The danger is that they decide to build the feature themselves instead of partnering with us (probably take about 3 months of work). How do I prevent this and make it more attractive to work with us than doing it themselves? And should I approach the biggest players first, or start with the smaller guys?
Have them sign an NDA.
You'd be surprised how many partners are willing to collaborate so that they don't need to build a particular feature themselves. They have their own roadmaps and initiatives. If your feature really is a value add to their offering and they feel they can sell it to their customers, I suspect they'll consider negotiating.
I personally wouldn't go to the biggest players first. There may be more departmental segmentation, more execs to convince, and more red tape involved in closing the deal. They also, like you said, have the capacity to build the feature themselves. NDAs are great and legally binding, but if you don't have the capital to stand up against them in court, you may be at a loss. You really don't want to be in a position where someone else holds all of the control.
You have something to offer. You should remain in the position of control (even if it does lead to a negotiation.)
Smaller or similar sized businesses may be more willing to join forces as it serves as a win win scenario.
Answered 8 years ago
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