Questions

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?

Go to all potential partners, although you might find the smaller ones easier to approach.

As someone mentioned, your sales pitch is basically selling the time to market & resources. If the feature is strategic, expect they will try to develop it themselves; if not, you are in with a shot.

For the first meeting, I would not spend too much time on NDA's & patents, however I would only talk about the overall solution and partnership. DNA's and patents will become important for the following meetings.

Go for it. The worst you could do is do nothing.

Good luck

PS: I think you will be pleasantly surprised on how much you will learn on your potential partners / competitors.


Answered 8 years ago

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