Mayo615's French Odyssey Week 12 Report
Channel: Mayo615
Date: 2019-06-17

Hello! 
…and welcome to the Week 12 Update of Mayo615’s Odyssey to France, and how to transform Big Ideas into Big Realities. 
A crucial part of running a startup company is developing customers, sometimes much larger customers. This can lead to very lucrative revenue and growth. Also, a common exit option is to be acquired by a larger company. However, I want to offer a cautionary tale from my experience. A large engineering company whose products were lagging began buying large amounts of the newest product technology from our startup in Silicon Valley. Unfortunately, it soon became clear that the large company’s strategy was to not pay their invoices, assuming that our company would become starved for cash, and eventually, the large company might be able to acquire our startup’s technology for a very small price. In a tense negotiation, the large company offered to pay one-third of what we were owed. We refused the offer and won. The lesson is that entrepreneurs need to be alert that not everyone plays by normal business rules and to expect it will happen eventually.
Remember that my website, mayo615.com has over 400 posts on a wide range of management and technology topics, including the corporate life cycle and strategic inflection points.
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