An unusually powerful approach to validating startup ideas
One of our portfolio companies is solving a very specific problem in the accounting space. To help them, we’ve teamed up with a business in Australia/UK that takes a BRILLIANT approach to startup validation.
For starters, these guys say that cold calling doesn’t work…
…especially with well-known companies.
Such businesses are inundated with inbound messages from startups, all claiming to solve XYZ.
It’s not that they don’t care about the latest innovations in their space.
They just don’t have the capacity or capability to process them.
And they’re busy.
So, their standard answer is:
“Thanks, but no thanks”.
This is what the Aussie/Brits do instead (they’re called “Early Adopters Hub” by the way):
- They completely niched down.
- They approached the UK and Australia’s leading accounting firms.
- They said: “We will present you, every second week, with a pre-filtered selection of the best startups in your sector and geography. There’s no obligation to do anything other than look and provide feedback. And there’s no fee.”
- Each firm appoints a responsible person, who participates in the formal process, alongside peers from other firms.
- At every panel session, each pre-filtered startup is presented the same way, ensuring the process is objectively focused on the problem/solution, and not influenced by a charismatic founder.
- Each company can pass, request more information, or actively participate in a validation process with any (or all) of the startups they are presented with.
- In this way, the accounting firms stay in touch with the latest innovations in their space, at no cost and with minimal impact on their operations and people.
- Early Adopters Hub takes care of all the admin and workload, which is possible because the startups are willing to pay for access.
- Even better, when they’re approached directly by other startups, the accounting firms simply direct them to Early Adopters Hub.
Genius, no?
I’d love to know if it this being done elsewhere or in other sectors.
Has anyone else seen this?
Anyone found a better way of getting their B2B products into corporates?
