- How to improve collections
- How to manage Purchases & Costing
- How to manage your sales team
- How to make a business contract
- How to negotiate effectively
Choosing a CVC is an excellent idea especially if the corporate firm is in the same niche as your startup is. You will get benefits that go beyond money and that is extremely valuable. However, it is advisable that you understand everything about CVC before making the move. You have to understand the requirements and the benefits that you can reap before taking a step forward.
Corporates Are Highly Interested. They Also Have The Required Money.
Research has shown that corporates are actually highly interested in startups (especially in the same niche). This is because it helps them understand the latest advancements in their category, thereby enabling them to innovate. Innovations ultimately help growth and help them serve their customers better. Research has also proven that corporates have the required money to help you out. Hence, things are bright in this aspect.
Money Is Not The Only Thing You Should Be After
As aforementioned, choosing a CVC brings with it benefits that surpass money. You should consider those benefits beforehand. Benefits include infrastructure, scale, knowledge, and relationships. Affiliation from a firm that is already established will help you in plenty of different ways. It will help you work your business plan better because you will be backed by a lot of experience. Your relationship with an established company will definitely give you a great advantage over your competitors.
Let Them Know What You Can Offer To Them
No corporate will invest in you if they don’t see any benefits for themselves. They need to know that this relationship will help them as well. Therefore, when you pitch you should think about them and focus on letting them know how they will be benefitted. Do not focus on how you think that they will help you succeed and pass through the initial startup hurdles. They already know they can help you with that. What they want to know is how you can help them. Corporates will only invest in you when they are positive that the relationship will be mutually beneficial.
Thus, it is recommended that you try to pursue a corporate in your own niche to fund your startup. Be smart while pitching and concentrate on them.
Corporate venture capital or CVC is very popular and beneficial for startups. If you are looking to walk down this road, it is advisable that you understand a few things about corporates such as the fact that they are highly interested and the main thing they look for is the benefits that they will enjoy through the relationship.
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