An entrepreneur contacted me the other day. He had gone to a trade show hoping to find a partner for a pilot program. Instead him and his minimum size booth (don’t do this) ended up being one of the hottest companies at the show. Everyone seemed to be approaching him, and a lot of buzz and activity was happening.

Then he realized he didn’t know which step to take next. Big name companies, small companies, press, etc. they all wanted a piece of his time. And he only had 24 hours a day to spend.

So he asked what he should do.

First: Figure out what kind of company you want to have as a “Success”. Do you want an IPO? Do you want a quick M&A;, do you want someone to license the technology, do you want to have a permanent job for you, your friends and family? This decision will influence the next steps you’ll want to take.

Who do you talk to? Who do you contact?
Figure out, for yourself what you want to do, and then who can make it happen. Recognize the motivation of the other players as well. Talking to a CEO/CTO can get your product/service implemented quickly. They can also pay quickly, and make things happen. What are their motivations/expectations from your company? Can you deliver them? How will you deliver them?

Big companies: You need to have the main players interested in you, otherwise you will get lost in the clutter. You have to get upper management to be your avatar. When someone’s career is tied to your success in the company, they’ll make sure you’re front and center in the meetings. When several peoples careers are tied to your success. You’ll be able to survive the departure of one or more people. The other key element is going after the #1 company in the industry. If you get them as a customer, #2 and #3 will follow, because the competitive environment has just changed. Getting the #10 player as your marquee customer might be nice, but there’s no incentive for the top 3 players to change their way of business. They’ll continue doing business as usual until they’re forced to stop.

Small companies: they’re flatter. They can implement things company wide faster. But they’re not the leaders. If you’re going to do a pilot program, it’s great working with smaller organizations, but recognize they’re putting themselves at risk with your company as well.
Smaller companies are also more willing to take a risk. Trying to leapfrog from the #4 position to a #2 slot.

Press: Reporters want to make their careers. They want a good story, and they want recognition. Sometimes their wants align with your needs/wants. Other times they’ll clash. Remember that peace of mind is a HUGE aspect for your customers. Seeing your name in a trade magazine, or major journal does wonderful things for you, as long as the story is good.


See all the contradictions that exist in general? Fortunately, when looking at specific industries, several of these conflicts go away. Not to say the contradictions don’t exist, rather, one force is so strong, that the battle has already been decided.

Now, go and figure out which forces dominate your industry. I can’t help you with the 24 hours per day situation.