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Your FinTech idea is taking shape.
The accelerator loved your story.
This feels like the mainstream.
Your mentors have some pretty fancy business cards from the banks you want to sell to.
You know they need what you’re building — you spent years yourself frustrated by the inefficiency and inertia on their side.
So you quit.
And bootstrapped to an MVP and a (re-)entry ticket.
The accelerator promised you first class introductions to your Top 10 targets.
The meetings arranged; your pitch polished.
And then nothing.
You don’t seem to find any way to close a deal.
This route in is a dead end, not the fast track you were promised.
Your contact has the perfect job title on paper, yet doesn’t seem to want (or be able) to act.
It’s not me, it’s you
You’re likely talking with the wrong person. Not because their job title is wrong, but because they’re disconnected from the problem you’re helping their organisation solve.
Take a step back.
Who’s your true customer?
Who’s actually on the hook for delivering the business success?
The person who you should be talking to is sitting atop a ~$5billion P&L.
Five billion dollars
That number is too huge for one person to be accountable for.
There are many mouths to feed.
Armies of originators, salespeople, traders and risk managers.
RMs, branch staff, eCommerce teams, Compliance.
Data wizards, architects and UX leads.
Every single day
Together, this team are expected to generate $19million today.
$19million tomorrow and the day after that.
Each day they don’t hit $19mln makes the next day tougher.
But you’re ready to ship the very thing that’s going to make it easier. You know it’s going to work. It should be an easy sell. Yet nobody is pulling the trigger and the mentors tell you to hunker down for up to 2 years to build pipeline.
The person negotiating with you isn’t on the hook for the $5bln.
They may not even identify themselves as a revenue contributor.
They don’t feel the urgency and don’t demonstrate the passion you expect.
They need to let you help them be successful.
But it’s your job to make that happen.
Help them see that the quicker they onboard you, the quicker your solution increases the chances of their team hitting $19mln the next day.
Connect your solution – through their role – to their underlying commercial target. Navigating the organisation is far from a linear process.
Force them let you help them — they’ll thank you for it.
In the time you’ve taken to read this, your customer needed to generate $68,750 in revenue at a 42%-48% cost/income ratio.
How much does your solution cost?
Unless your accelerator explicitly negotiates a vendor fast track process through Procurement and Information Security, you may find momentum disappears.
Get yourself in front of the people who feel the pain.
Show them you understand what they’re facing.
Match your solution to their opportunity.
Get to work.