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Janine Shea

The Most Overlooked b2b Funding: Customer Funded Development | Tech Wildcatters - 0 views

techwildcatters.com/ng-customer-funded-development

GroundUp Customer_Development Product-Market_Fit Goldman_Sachs Corporate_Sponsors Customer_Funded_Development Financing

shared by Janine Shea on 28 May 13 - No Cached
    • Janine Shea
      Janine Shea on 28 May 13
       
      How effective has the Urban Investment Group been since active?  Good business flow? Meeting target returns, objectives?  How do they currently source their investments - are they satisfied with these solutions?
  • how do you keep the IP? First of all, this only works when you’re developing IP that is not in one of the sponsoring company’s lines of business.
  • In the case of adding to their product mix, licensing and royalty deals can be made to keep the IP in your company. You may even offer to pay back the development costs as you grow your company. However, if you’re building something that the sponsor will use in operations, it’s unlikely they want to be out there selling it, so act under the assumption that they don’t want to own the IP. It’s all in the contract, so get a good lawyer. NEVER do this part yourself.
  • ...5 more annotations...
  • Who is your decision maker? Who is your champion?
  • Is this a product they could sell or is it for operations?
    • Janine Shea
      Janine Shea on 28 May 13
       
      Operations
  • In CFD, more so that any type of sale, you are not selling a product. Because nothing is built yet (or at least finished), you’re selling your ability to solve a problem for a group of individuals. Those individuals are probably looking at that problem a lot differently than you are, and through the lens of many conflicting or ambiguous goals. Rather than speculate and depend on your own understanding of the problem, you have to get into their heads. In short, you have to ask AND listen. They will tell you. But you will miss it if you’re not open to it. In the words of one of the world’s great innovators, Steve Jobs, you have to go in with a Beginner’s Mind.
  • The easiest way to get a customer to pay for development is to know that they’re facing some major change or challenge, and they have no other choice but to find a solution.
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