We run a platform (www.mydreamstore.in) for designers/ artists/ groups to create and sell custom merchandise with out any upfront costs & hassles.
There is a potential competitor & bigger market player situated in the Bay Area. They are doing good with the numbers. Their Strategic Business Development Team approached us. They assume there could be interesting ways for us work together.
We’ve a meeting scheduled early next week. Any first hand experience on what things to share and what we should not?
Eg: Revenue Figures
Traction
Marketing Plans & Objectives
Plans of targeting International Markets
Tech Road Map & Marketing Road Map etc
Cost of Customer Acquisition etc
Rudrajeet Desai
I have done business and made partnerships with most companies that were a lot bigger than me… Google, FB, Microsoft, Yahoo, Linked etc… My experience is share everything… hiding stuff just makes things longer and mostly if a company is bigger than you then they would expect information.
Having said that… Share Theory upfront and rest only when asked… and what is asked… so if they ask you Cost of Acquisition… just give the number…. not the strategy… If asked Revenue, give figures not breakup
Hope it helps…
Karthik Venkat
Thanks Rudrajeet. Noted your feedback.
asha chaudhry
karthik,
has this meeting happened yet?
Alok Rodinhood Kejriwal
Why should you not share ANYTHING?
Karthik Venkat
Right Alok.
The meeting did happen and it went well & we’ve shared our details with not much hesitation. They were figuring out to enter into Asian markets and figuring out synergies with existing ventures.