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Startups Serving The Enterprise: A map for navigating one another in the quest for successful innovation

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The rise of new technologies has created an opportunity for enterprises to innovate, improve efficiency and provide differentiated customer experiences. For faster technology adoption and better service and support, enterprises often partner with startup companies to maintain competitive advantage. However, the path to a successful partnership involves several learning lessons. 
 
At Greyscale, our annual conference that connects CXO leaders with enterprise founders, Greylock's Sarah Guo discusses how enterprise and startup leaders can effectively work together.

Publicado en: Tecnología
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Startups Serving The Enterprise: A map for navigating one another in the quest for successful innovation

  1. 1. STARTUPS SERVING THE ENTERPRISE: A MAP FOR NAVIGATING ONE ANOTHER IN THE QUEST FOR SUCCESSFUL INNOVATION Sarah Guo @saranormous
  2. 2. 1 2 3 4 5 6 7 THE SWAMP OF MARKETING FOG THE GAP OF THE FOUR S’s THE OCEAN OF EARLY EXECUTION THE GALEWINDS OF COST AND RISK T HE GOLDEN FIELDS OF INNOVATION THE DESERT OF PROCUREMENT AND APPROV ALS T H E QUICKSANDS OF CUSTOMIZATION THE STARTUP/ENTERPRISE QUEST
  3. 3. THE SWAMP OF MARKETING FOG 1
  4. 4. • Shine a bright light • Paint a clear and easy path • Engage right people, right time RECRUITING PARTNERS IN THE SWAMP OF MARKETING FOG “It’s a very noisy marketplace, and getting customer attention can be heard. Best is a warm introduction- ideally from people in your network who are really willing to go to bat for you. That can make a world of difference.” David Ebersman, CEO, Lyra Health
  5. 5. THE GALEWINDS OF COST AND RISK 2
  6. 6. MAINTAINING FAITH THROUGH THE GALEWINDS OF COST AND RISK “It’s extremely important for early startups that senior leadership, if not the CEO, be personally engaged. The personal level of engagement and commitment helps overcome some of the concerns about the company’s ability to scale.” Otto Chan, EVP, Wells Fargo • Value must overwhelm cost and risk • Build personal relationships • Reduce hidden costs
  7. 7. 3 THE GAP OF THE FOUR S’s
  8. 8. “Startups often miss how complex an environment can be in a large organiza- tion. We have 120 country offices all over the world and there are a lot of layers and startups don’t typically come in with the understanding of that complexity.” BRIDGING THE GAP OF THE FOUR S’s Stephanie von Friedeburg, COO, International Finance Corporation • Enterprises are evaluating not just technology value, but also the Four S’s: 1. Scale 2. Security 3. Spend 4. Supportability • Startups and enterprises need to preemptively understand and shrink the feasibility gap
  9. 9. TH E QUICKSANDS OF CUSTOMIZATION 4
  10. 10. AVOIDING THE QUICKSANDS OF CUSTOMIZATION Diana McKenzie, CIO, Workday • Customer requirements must be balanced with strategic priorities and company resources • Just as customers choose startups, startups should choose their early customers “Give us complete transparency about what your technology can or can’t do. If we like what we see, we will often ask you to come back and see us when you can get X/Y/Z capabilities on your roadmap. Being open to and taking us up on that type of feedback is how a lot of these relationships become successful.”
  11. 11. THE DESERT OF PROCUREMENT AND APPROV A LS 5
  12. 12. SURVIVING THE DESERT OF PROCUREMENT & APPROVALS “[The purchasing process] depends on the dollar value. Something under $50K is quick, over that it’s a substantial decision-making process.” Jay Dominic, CIO, Princeton University • Plan ahead for sales cycles • Find and enable internal champions that will assist you through procurement
  13. 13. THE OCEAN OF EARLY EXECUTION 6
  14. 14. CROSSING THE OCEAN OF EARLY EXECUTION “Can you get an MSA signed? There’s a great network effect in having overarching MSA with other business units in the same company…[that way] we don’t have to repeatedly do legal work.” Deepanshu Bagchee, SVP Technology CNBC • Structure PoCs with short timeline and clear criteria for success • Avoid poisoning the well • Execute and extend
  15. 15. 7 T H E GOLDEN FIELDS OF INNOVATION
  16. 16. REACHING THE GOLDEN FIELDS OF INNOVATION In order to meet their shared goals, startups and enterprises must: • Choose their partnerships carefully • Treat the relationship as a true partnership that involves work and compromise • Communicate both goals and challenges clearly and early “What’s really important is that there’s a shared vision around the need to drive innovation.—if you have a checklist ap- proach to choosing a partner, that’s not going to work. Find a [partner] that sees this as a journey, not a static vision, they have to really believe your startup is a partner that’s going to help us transform a whole area.” Joseph Ansanelli, CEO, Gladly
  17. 17. Sarah Guo sarah@greylock.com @saranormous

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