The company initially targeted small firms lacking R&D capabilities, but discovered they struggle to survive, have no innovation departments, and can't afford commercialization services. Large enterprises showed stronger inbound interest and proved a more viable market.
So the assumption we had in the beginning was that we would go to smaller companies to help them because they didn't have the R&D, they didn't have all this infrastructure, we didn't have the powerhouse that we offer them. Right. What are all these changemakers that they have great products, but they don't know how to commercialize them, how to go from their benchtop to the shelf? However, we saw when we started that We received great inbound interest from big enterprises. Yes. And we saw that the smaller companies, many of those, they have lower survival rate. Those that didn't have the innovation departments to find us. So it has to be outbound to find them. And many of those, they didn't have the budget or even the time to adopt. You know, with many startups, they're just trying to survive. So even if you tell them like, you're trying to dig this hole, take the shovel, and they say, I don't have time for that. I need to fix that.
How Can You Maximize Your Business Value Before Selling? with Randy Katz Video
