It is common for small companies to want to go big fast. Small companies have to target a niche market and provide a good product that solves this group problem. For success, you have to keep implementing this plan over and over again.
This results in your product being quite valuable to customers. However, a startup company cannot provide a true end-to-end solution from the get-go. If you sell software, then it is unlikely you can provide implementation, hardware and services. This is not a blow to your company. It is just that your company is not big enough yet to provide everything.
Mergers and acquisitions are the answers to your problem. If you can get a larger company to merge with your business, then you can offer a complete product to your customers. It is a win for both parties because both companies are serving the market together. Here is how to get large companies to merge with your startup business.
Proof Of Your Business Idea
It is common to believe that your product is a necessity for a certain market. You have to show proof of your concept. The best proof is evidence that people have paid for your product and is using it. It does not have to be thousands of customers, but the sample size has to be large enough to show the product is accepted by the market.
Make Sure Your Credit Is In Good Standing
It helps to have your finances and credit in good standing before pitching to companies. A big-company buyer is going to investigate your credit. This investigation is done when you get the account and on a regular basis. Larger companies feel that doing a business with you is a risk. If your credit is not in good standing, then you could lose the account.
Be Upfront About Manufacturing Capacity
Most big companies want to buy in volume. If you do not have the manufacturing capacity, then you need to be upfront. Big companies are looking to form relationships not make spot buys.
You should approach a large company telling them what you can do for them. Larger companies want to get the product on the market faster than the competition. This is a good starting point. You also want to provide the company with opportunities to increase their average revenue per user. These things make your business attractive to national companies.
For assistance, talk to a professional like tech acquisitions.
