The document provides guidance on engaging prospects for startups and industry. It discusses profiling ideal prospects, producing prospects through research and outreach, preparing for meetings, and maintaining relationships. The 4 Ps of prospecting framework is introduced, including value proposition, profiling prospects, producing prospects through various research and outreach methods, and preparing for meetings. Maintaining relationships over time through repeated contact is also emphasized.

1. Engaging Prospects
MIT Portugal Innovation Symposium
Beth E. Zonis
May 13, 2014

2. Agenda
➜ Objectives: Startups and Industry
➜ Offer
➜ 4 Ps of Prospecting:
➜ Value Proposition
➜ Profile ideal prospects
➜ Produce prospects
➜ Prepare for meeting
➜ Maintain and build relationship(s)
➜ Contact information
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3. Startup objectives are…
… to establish and build
relationships with businesses
who will:
➜ Purchase products and
services
➜ Partner to sell,
manufacture, and/or deliver
products and services
➜ Provide funding to enable
Startup’s growth
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4. Industry objectives are…
➜ For BUYER: New/better
products/services
➜ For PARTNER: New
contacts and products
➜ For INVESTOR: Investment
to increase revenue and
profit
➜ For ALL: Make money and/
or solve problems that
improve society
➜ Today our focus is on the
BUYER
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5. Features, Advantages and Benefits
➜ Features: What is it?
➜ Color, shape, size, location
➜ Advantages: What does it do?
➜ Functions, capabilities
➜ Benefits: What does it fix or improve?
➜ It makes the user happier
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6. DISCUSSION: What can you offer to your clients?
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7. DISCUSSION: What do your clients get?
➜ Now ➜ Future
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8. DISCUSSION: What examples, success stories or statistics can you cite?
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9. DISCUSSION: Who is an ideal “prospect”?
Types of Organizations Roles
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10. What do you know about your target, by role?
CTO: an Agent of Innovation (example)
“The many, wide-ranging
activities associated with the
Chief Technology Officer role
should deliver a measurable
impact on a company’s
financial and innovation
outcomes… The result is a
company that can make better,
faster, and more efficient
decisions.” – THE
EFFECTIVENESS OF THE CHIEF
TECHNOLOGY OFFICER, Scott Hartley,
Industrial Research Institute, 2011
The Role of the CTO: Four Models of Success, Cabot Consultants, 2002
“We are on the lookout for developments that are truly going to be
disruptive and try to tie ourselves to them. We constantly challenge
ourselves and refresh that list of the large trends that we should be looking
at…” – Gregg Zank, CTO, Dow Chemical, 2011
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11. DISCUSSION: What is your value proposition?
Value Proposition Worksheet
For…
Who want/need…
We offer…
We are better than alternatives,
because…
Proof points:
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12. Discussion: How do you reach your
prospects?
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13. Assembling lists of companies (example)
➜ Top 100/500/1000 lists (general)
➜ Forbes Americas Largest Private
Companies
➜ Fortune 500
➜ Inc 5000
➜ Top lists by industry group
➜ Deloitte
➜ E&Y
➜ PWC
➜ Industry lists (custom or off-the-shelf)
➜ Industry publications/journals (e.g.,
PFC Energy)
➜ Associations
➜ Social media
➜ LinkedIn
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14. How can you find these people?
➜ Campaign: broad
outreach and
communications
➜ Lists/ directories
➜ Introductions
➜ Events
➜ Warm calls and cold
calls
➜ Inbound marketing (they
find you)
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15. What to know about a prospect before
you reach out to them (suggestions)
➜ What business are they in?
➜ What are their major
initiatives and challenges?
➜ How does their mission
relate to yours?
➜ How do they make
purchases?
➜ How do they establish
partnerships?
➜ How do they buy/invest?
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16. Where to collect this information (example)
➜ Online databases and search engines
➜ Hoovers.com
➜ D&B
➜ Google search, Google news
➜ Company website
➜ Home page/ About us
➜ Investor information, annual reports
➜ Leadership: Board of directors, Executive officers
➜ Latest news
➜ Jobs/ careers
➜ Social media
➜ LinkedIn
➜ Whom do you know?
➜ Who’s in your network?
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17. Preparation before meeting with prospect
➜ Know about the company whom you’re calling (see research questions on
prior slides)
➜ Assemble a list of names, telephone numbers and email addresses
➜ Prepare an “elevator pitch” for a telephone introduction (2 minutes max)
➜ Use a personal introduction if possible (e.g., “So-and-so suggested I
call you…”)
➜ Introduction to Startup and why you’re calling
➜ “May I speak with the person who is responsible for X?”
➜ “I’d like to share some information about how our solution could help
your business. (e.g., What’s in it for them?)
➜ Do you have a few minutes now, or can we schedule another time to
talk?”
➜ Leave only 1 message. If the person doesn’t answer or respond, try
his/her assistant by touching “0” when his/her voicemail comes on
➜ If you can’t reach the person via phone, compose a brief email offering a
time to talk.
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18. A small % of leads progress through the
pipeline
Leads
Prospects
Qualified
Committed
Transacted
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19. How can you maintain and build the
relationship?
➜ Make connections to multiple people within the organization
➜ Consider how many “touches” it takes to close
➜ Have a new “reason to call” with something of interest each time
you contact them, such as:
➜ Startup milestones, new products, etc.
➜ When you’ll be in their area so you can arrange to meet
➜ Link to relevant article or report
➜ Invitation to upcoming events
➜ Reach out multiple times in a variety of ways
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20. Takeaways: 4 Ps of Prospecting +
Maintain and Build
Value Proposition
Profile ideal prospects
Produce prospects
Prepare for meeting
Maintain and build
relationships
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21. Beth E. Zonis
Beth Zonis is the Commercialization Program Manager for the MIT Skoltech Initiative. She
has been instrumental in establishing and growing the Center of Entrepreneurship and
Innovation at the Skolkovo Institute of Science and Technology in Moscow. Ms Zonis has
spent her career in marketing, business development and program management. Early in
her career she delivered 100% of new business to an IT start-up, including major Fortune
500 companies, driving growth from 10 to 1000+ employees. At IBM she built a foundation
and culture of generating references to drive business growth as Global Marketing Manager
for IBM Site and Facilities Services which delivered 125% year-over-year growth; and
generated over 70% of customer referrals. Ms Zonis founded and ran Eco Marketing LLC, a
successful consulting firm specializing in marketing sustainability and cleantech solutions.
Since 2009 she has been a mentor to startups in the Cleantech Open. Ms Zonis holds a BA,
cum laude, from Wellesley College; a Certificat de Science Politique from l’Institut d'Etudes
Politiques in Paris; an MBA from Boston University; and a Certificate in Sustainable
Business from the University of Southern Maine. She is fluent in French and Spanish, and
has some knowledge of German, Mandarin and Russian.
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22. Questions?
Beth E. Zonis
617-324-8292
zonis@mit.edu
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