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Asked a question 2 years ago

What is the best advice to a startup when partnering with a bigger company?

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Before engaging with the larger party, identify your list of goals. Ensure you know, very clearly, what you want (with or without the larger party’s involvement).

Then, flesh out a few scenarios where you would be comfortable; almost a “list of compromises”: scenarios where you list of wants and needs (identified above) are arranged in various orders of importance and magnitudes. This makes you comfortably flexible when negotiating with that party - something that makes you look good, and at the same time you get to stick to what’s important to you.

NOTE: always be ready to walk away… Have a robust and reliable plan in your back pocket for use if things don’t go in a direction you are happy with. Having a “Plan X” is probably the most influential card you can play against a hand held by a “bigger partner”.