ambercelery started this topic @ 18:08 on 16/08/2005
Hi
I've previously posted on this site saying that I am involved in software development and that I have set up an internet service. I have spent the past few months trying to get a company interested in my site - as I believe it will be of great use to them as a method of advertising (not simply by advertising on the site, but in using the underlying software that I have developed).
Anyway, I've managed to arrange a meeting with one large company and this will be going ahead next week. I know the target market and I know the benefits to the company I am meeting with.
However, I am unsure as to how much information I need to go with in a first meeting about negotiating a deal. I would say that it is still early stages of interest between my company and the big company but how likely am I to be quizzed about what I want from the joint venture.
Should I have numbers in my head already in case any offer is made, or is it ok to say that I was just wanting to talk things through to see if you are interested first and then will leave negotiations for a second meeting. I dont want to come across as under-prepared but also do not want to be pushy. i.e. without a companies backing, my software is almost worthless, so i dont want to aim too high.
As I've said, I want to demo the idea and discuss it further with them but is this ok for the first meeting - saying any other discussions for a future time.
Also, as the company I have targetted isnt a software company it could (could!!) result in them wanting me to work full time on this project and therefore quit my day job. Should I be prepared to offer this as an option to them at this time, or save it for some future meeting.
Any help on first meetings with prospective customers/partners would be greatly appreciated.
RE: Negotiating a deal...
nikki | 16/08/2005 07:24 PM
Hi
2 pieces of advice from me:
1 - go FULLY prepared - if you don't need all the information and ideas you've gathered in your head so be it, but don't miss an opportunity just because you haven't bothered to preapre - you won't often get a second chance!
Have an idea in your head of the possible routes the discussions could take and also have a clear idea of what you ideal outcome would be, what is acceptable and what is definately not acceptable; that way you can guide the discussion and not get sucked into something you don't want.
2 - See things from their point of view - why will it help them, what will be the benefit to them of working with you - will they save time, save money, improve their market position, be first to market with new technology? always remember they're in business for their own benefit and not yours!
Hope this helps and good luck!
Nikki
www.nowletsgetstarted.co.uk
------------------------
Now Let's Get Started
the webzine for small and start-up businesses
www.nowletsgetstarted.co.uk