Currently working on an early stage GovTech startup & curious to hear from others what are the chances that the government will buy into my startup? What are some tips/suggestions to ensure that a deal goes through?
Govtech or any public sector sales/adoption process is inherently different from B2B or B2C in many regards. Its critical to be able to explain the value proposition in terns that are meaningful to the decision maker, but its as crtical if not more so to also be able to "sell" to the multitude of influencers. Unlike in many business or consumer purchase decisions, where the decision maker is also the end user, in public procurement that is rarely the case - or at least not in a vacuum. In competing for dollars in the public sector, you have to know exactly which budget line item will be used to purchase your giids or services. Further, you have to know what or who else is competitive for those dollars (often an established "incumbent" even if your idea is new. The established incumbent could even be "do nothing" - because its safer. If "your" dollars (or those that would be used to procure your goods/services have historically been spent elsewhere - well then you will likely have to find a way to convince a whole team of people to go in a new direction and that can be hard. Its not all lost however because if you find some champions, they will likely be champions for the long haul as long as your product or service delivers. Since people in the government sector often move around to other public sector organizations, the influence of these champions can be widespread! Professional organizations of public agency procurement officials is a great place to find champions. Relationships. Relationships. Relationships. I am always intrigued by this sector. Its ripe for more change and now more than ever, there is funding for great solutions.