Help me let you help me.
You’re feeling pretty good right now. Your FinTech idea is taking shape. This is the mainstream. The accelerators you pitched to loved your story and welcomed you in. Now you’ve got some mentors who have some pretty fancy job titles at the very banks you want to sell your product to.
You know they need what you’re building — you spent years yourself frustrated by the inefficiency and inertia on their side of the wall. So you quit. And you and your buddies bootstrapped your way to an MVP and bought yourself a (re-)entry ticket to the big show.
The accelerator has promised you first class introductions to your Top 10 targets. They’re prepping you for VC meets and generally getting you ready for the showtime.
The intros are made, the calls set up, your pitch is as polished as your shoes.
And then nothing.
It’s like someone hits the slow-mo button. Everything grinds to a halt.
You don’t seem to find any way to close a deal.
This route in you’ve been offered seems like a dead end, rather than a fast track entry point to enterprise-wide greatness.
The person you’re talking with has the perfect job title on paper, yet doesn’t seem to want (or be able) to act.
What’s happened? Is it you? Or them?
It’s not me, it’s you.
You’re likely talking with the wrong person. Not because their job title is wrong, but because they’re not the person who endures the frustration you originally identified.
Take a step back.
The person who’s actually on the hook for making the numbers work is sitting atop a ~$5billion P&L.
Nobody understands quite where that number came from, but they’re expected to deliver that revenue this year and no excuses are eligible.
That number’s almost too huge for one person to be accountable for. Of course they’re not expected to deliver it themselves. They’ve entire armies of originators, salespeople, traders and risk managers. Commercial RMs, branch staff, eCommerce teams, Compliance heads. Data wizards, functional architects and UX leads.
Together, this team are expected to generate $5bln a year. Or to put it another way, $15million today. $15million tomorrow and another $15million the day after that.
Every single day.
Every day they don’t make $15mln makes tomorrow a little bit tougher.
But you’ve just built the very thing that’s going to help them. You know it’s going to work. It should be an easy sell. The accelerator knew what they were doing and now you’re ready to go to market. Yet nobody is pulling the trigger and the mentors tell you to hunker down for up to 2 years to close a deal.
The person in charge of negotiating with you isn’t on the hook for $5bln. They may not even identify themselves as a revenue generator. They don’t automatically feel the urgency, the immediacy or the passion that you expect.
They need to let you help them be successful. But it’s your job to make that happen.
Help them see that the quicker they onboard you, the quicker your solution increases the chances of their team hitting $15mln that day. Connect your solution, through their role to their underlying commercial target. Navigate the organisation — it’s far from a linear process. Force them let you help them — they’ll thank you for it soon enough.
Unless your accelerator explicitly negotiates a vendor fast track process through Procurement, and Information Security, you may find that the momentum you built so far all but disappears.
In the time you’ve taken to read this, your target customer needed to generate $83,000 in revenue. Remind me, what size of deal are you targeting?
Get in front of the people who feel the pain. Show them you understand what they’re facing and match your solution to their opportunity.
$84,500 and counting now.
Get to work.