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Kopi Chat Takeaways: Strategies for Small Startups to Engage with Big Corporations

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BLOCK71 Jakarta
BLOCK71 Jakarta

Partnership can be a great opportunity to drive startup growth but it can be tough to get the attention of a mega operator. How to convince them to join forces with you? To get insights on how to engage with big corporations, join us for our next run of Kopi Chat with Irzan Raditya of Kata.ai. He will share about how Kata.ai successfully partners with big corporations such as Unilever, Telkomsel, LINE, Accenture and Microsoft.

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Kopi Chat Takeaways Strategies for Small Startups to Engage with Big Corporations With Irzan Raditya 28th September 2017
Irzan Raditya, CEO of Kata.ai
Initial Strategy YesBoss was a virtual personal assistant service, but we chose to pivot to Kata.ai last year. We learned from Elon Musk. He built the high- end Tesla Model S and used it to fund their mid- ranged cars en masse. Irzan Raditya Chief Executive Officer Kata.ai
Initial Strategy We learned that B2C was hard to crack, so we needed to think about the 10x growth mindset; how to thrive with limited resources. We took a risk and went B2B. Irzan Raditya Chief Executive Officer Kata.ai
Everyone said we were wasting our time, that we should focus on SMEs and startups with our SaaS. But we had faith that this was the right way to go. Irzan Raditya Chief Executive Officer Kata.ai Initial Strategy
Pain Points for Sales Enterprises Long sales cycles. Building an enterprise sales cycle will take 3-6 months. Toughest ones take a year. You need to create a strategy on how to conserve your cash and be resilient. It will take you some time, energy and focus. Irzan Raditya Chief Executive Officer Kata.ai
Pain Points for Sales Enterprises You have to comply with internal policy which sometimes dont make sense, or sometimes legacy systems for solutions. We need to comply with their regulations / policies when interacting with them. Irzan Raditya Chief Executive Officer Kata.ai
Pain Points for Sales Enterprises No single decision maker. Sometimes, you think that oh, I know the CEO or managing director, everything should be ready to go. Unfortunately its not that easy. We thought it was a great strategy by shooting for the top, but of course that guy will send you down to the VP level. At that level, the decisions are made by different divisions. Irzan Raditya Chief Executive Officer Kata.ai
Pain Points for Sales Enterprises Proof of concept. Sometimes, POC requirements are a pain. A lot of customization requests, and they request POC for free sometimes. You have to solve this situation by being up front. Irzan Raditya Chief Executive Officer Kata.ai
Pain Points for Sales Enterprises Negotiations. Their procurement team will try to bring the price down as low as possible, sometimes even up to a 90% discount. Make sure you have justification that the price youre providing fits with the quality you are delivering. Have calculations in the back of your hand; whats the cost for them to not use your product. Irzan Raditya Chief Executive Officer Kata.ai
Personal Journey I made a mistake the first time I dealt with procurement. I asked for X, and ended up selling the POC for a 70% discount. I learned that you had to know your quality, be more convincing and never be underselling yourself. Irzan Raditya Chief Executive Officer Kata.ai
Personal Journey You need sales, but you dont need salesmen. Thats the mantra weve been living for the past 9 months. As a founder, youre the salesman. Who can evangelize your product but you yourself? The only salespeople we have are me and my CMO who is also my co-founder. Irzan Raditya Chief Executive Officer Kata.ai
Personal Journey As a founder, when you try to negotiate with upper management, theyll appreciate you even though youre young. However, it doesnt scale. Irzan Raditya Chief Executive Officer Kata.ai
Personal Journey My theory is that you dont need a salesman to sell your product if your product can sell itself. Irzan Raditya Chief Executive Officer Kata.ai
Personal Journey Get your product right and get the word out. The one thing you have to fix is your product. Make sure its working and serves your customers needs. Irzan Raditya Chief Executive Officer Kata.ai
Personal Journey Get the word out; go to events, press releases. Your product wont sell if people dont know it. Irzan Raditya Chief Executive Officer Kata.ai
Personal Journey Sell through partnerships. Partnerships always start with relationships. How you can meet the key players. Its a good idea to build your sales through partners who have clients. Clients that need your solution. Irzan Raditya Chief Executive Officer Kata.ai
Analytics The buying process doesnt start with your sales pitch, it starts in your customers minds, their cognitive bias. How you can shape and tell a story so that when you pitch your idea to them, you show care for them. Irzan Raditya Chief Executive Officer Kata.ai
Analytics Your biggest competitor is your customers cognitive bias. Its good to come with market data to support your product, but selling is not a science, its an art. Irzan Raditya Chief Executive Officer Kata.ai
Analytics Acknowledge the pain of your customers and provide your solution. Spend more of your time on the problem, not your solution. After you get them emotionally involved, then you can show them your statistical data and reports. Irzan Raditya Chief Executive Officer Kata.ai
Analytics After getting the problem accepted, then you can transfer your story to the solution. Irzan Raditya Chief Executive Officer Kata.ai
Analytics Spend time in explaining the results of your solutions. Integration time, cost saved, you should cover everything. Irzan Raditya Chief Executive Officer Kata.ai
Analytics Once you have finally found the status quo of their current solution and the cost of them using another product, you have a number that you can charge them. Thats the cost of pain. Irzan Raditya Chief Executive Officer Kata.ai
Analytics Show that you care about their problem and that you can commit to solve their problems. Then confirm; what you need from one meeting is a confirmation to another meeting, all the way to your POC. Irzan Raditya Chief Executive Officer Kata.ai
Kopi Chat Takeaways @Block71 Jakarta A special thanks to everyone who attended Kopi Chat @BLOCK Jakarta and made the event possible! 28th September 2017

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Kopi Chat Takeaways: Strategies for Small Startups to Engage with Big Corporations

  • 1. Kopi Chat Takeaways Strategies for Small Startups to Engage with Big Corporations With Irzan Raditya 28th September 2017
  • 3. Initial Strategy YesBoss was a virtual personal assistant service, but we chose to pivot to Kata.ai last year. We learned from Elon Musk. He built the high- end Tesla Model S and used it to fund their mid- ranged cars en masse. Irzan Raditya Chief Executive Officer Kata.ai
  • 4. Initial Strategy We learned that B2C was hard to crack, so we needed to think about the 10x growth mindset; how to thrive with limited resources. We took a risk and went B2B. Irzan Raditya Chief Executive Officer Kata.ai
  • 5. Everyone said we were wasting our time, that we should focus on SMEs and startups with our SaaS. But we had faith that this was the right way to go. Irzan Raditya Chief Executive Officer Kata.ai Initial Strategy
  • 6. Pain Points for Sales Enterprises Long sales cycles. Building an enterprise sales cycle will take 3-6 months. Toughest ones take a year. You need to create a strategy on how to conserve your cash and be resilient. It will take you some time, energy and focus. Irzan Raditya Chief Executive Officer Kata.ai
  • 7. Pain Points for Sales Enterprises You have to comply with internal policy which sometimes dont make sense, or sometimes legacy systems for solutions. We need to comply with their regulations / policies when interacting with them. Irzan Raditya Chief Executive Officer Kata.ai
  • 8. Pain Points for Sales Enterprises No single decision maker. Sometimes, you think that oh, I know the CEO or managing director, everything should be ready to go. Unfortunately its not that easy. We thought it was a great strategy by shooting for the top, but of course that guy will send you down to the VP level. At that level, the decisions are made by different divisions. Irzan Raditya Chief Executive Officer Kata.ai
  • 9. Pain Points for Sales Enterprises Proof of concept. Sometimes, POC requirements are a pain. A lot of customization requests, and they request POC for free sometimes. You have to solve this situation by being up front. Irzan Raditya Chief Executive Officer Kata.ai
  • 10. Pain Points for Sales Enterprises Negotiations. Their procurement team will try to bring the price down as low as possible, sometimes even up to a 90% discount. Make sure you have justification that the price youre providing fits with the quality you are delivering. Have calculations in the back of your hand; whats the cost for them to not use your product. Irzan Raditya Chief Executive Officer Kata.ai
  • 11. Personal Journey I made a mistake the first time I dealt with procurement. I asked for X, and ended up selling the POC for a 70% discount. I learned that you had to know your quality, be more convincing and never be underselling yourself. Irzan Raditya Chief Executive Officer Kata.ai
  • 12. Personal Journey You need sales, but you dont need salesmen. Thats the mantra weve been living for the past 9 months. As a founder, youre the salesman. Who can evangelize your product but you yourself? The only salespeople we have are me and my CMO who is also my co-founder. Irzan Raditya Chief Executive Officer Kata.ai
  • 13. Personal Journey As a founder, when you try to negotiate with upper management, theyll appreciate you even though youre young. However, it doesnt scale. Irzan Raditya Chief Executive Officer Kata.ai
  • 14. Personal Journey My theory is that you dont need a salesman to sell your product if your product can sell itself. Irzan Raditya Chief Executive Officer Kata.ai
  • 15. Personal Journey Get your product right and get the word out. The one thing you have to fix is your product. Make sure its working and serves your customers needs. Irzan Raditya Chief Executive Officer Kata.ai
  • 16. Personal Journey Get the word out; go to events, press releases. Your product wont sell if people dont know it. Irzan Raditya Chief Executive Officer Kata.ai
  • 17. Personal Journey Sell through partnerships. Partnerships always start with relationships. How you can meet the key players. Its a good idea to build your sales through partners who have clients. Clients that need your solution. Irzan Raditya Chief Executive Officer Kata.ai
  • 18. Analytics The buying process doesnt start with your sales pitch, it starts in your customers minds, their cognitive bias. How you can shape and tell a story so that when you pitch your idea to them, you show care for them. Irzan Raditya Chief Executive Officer Kata.ai
  • 19. Analytics Your biggest competitor is your customers cognitive bias. Its good to come with market data to support your product, but selling is not a science, its an art. Irzan Raditya Chief Executive Officer Kata.ai
  • 20. Analytics Acknowledge the pain of your customers and provide your solution. Spend more of your time on the problem, not your solution. After you get them emotionally involved, then you can show them your statistical data and reports. Irzan Raditya Chief Executive Officer Kata.ai
  • 21. Analytics After getting the problem accepted, then you can transfer your story to the solution. Irzan Raditya Chief Executive Officer Kata.ai
  • 22. Analytics Spend time in explaining the results of your solutions. Integration time, cost saved, you should cover everything. Irzan Raditya Chief Executive Officer Kata.ai
  • 23. Analytics Once you have finally found the status quo of their current solution and the cost of them using another product, you have a number that you can charge them. Thats the cost of pain. Irzan Raditya Chief Executive Officer Kata.ai
  • 24. Analytics Show that you care about their problem and that you can commit to solve their problems. Then confirm; what you need from one meeting is a confirmation to another meeting, all the way to your POC. Irzan Raditya Chief Executive Officer Kata.ai
  • 25. Kopi Chat Takeaways @Block71 Jakarta A special thanks to everyone who attended Kopi Chat @BLOCK Jakarta and made the event possible! 28th September 2017