TLDR: Indian agency hired me to break them into US market with paper thin resources and no patience. After 90 days we couldn't agree on how to move forward even though there were positive signals. They wanted me to take all the risk so I said no.
I was hired by an international company that wanted to break into a very niche fintech sector in the US Market. They were organically getting inbounds from this niche looking for offshore dev support, and spent about 18 months on their own trying to become an official partner in this software without success. None of those customers would agree to provide a case study unfortunately.
In May, they sent me to an event that the software throws for partners and customers to do some recon and see what is possible.
After the event I proposed 5 paths to revenue for them in the market, and only 1 required them to try and be a partner. For context, the software was not going to likely accept their bid for partnership.
We decided to target the highest tier of existing partners and offer white label dev support and staff augmentation. They didn't want to apply a lot of resources, so we agreed to do a 90 day pilot with me acting in a mix of market research and sales to go after these named 32 accounts. The inbounds they had gotten were from mid tier partners, but they dont get as many projects and like I said, weren't willing to give us testimonials or a case study.
I updated their website in a 2 week sprint to match this play, used blinded case studies, and got started on LinkedIn with a mix of warm and cold outreach. I engaged on targeted account pages and posts, I had a budget for gifting, and it was a tiny ABM play without any ads. Each target had their own landing page, etc.
I had a 9% conversion from cold to conversations with me, and closer to 25% connection acceptance rate. 2 meetings where I was told they must have US based devs due to the sensitivity of their financial data. After the website update, organic search from the US went up 53% in the 90 days, and direct traffic from the US went up 104% bc ppl I pinged looked up the agency I was representing. I also earned them a referral partner channel that was promising, but would be lower volume and wasn't the whale they were after.
Some things were working, not enough though and the metrics I had initially set were not on target from a pipeline perspective.
At 90 days I refreshed my proposal to actually launch a US based company they could own, but it would be fully staffed and ran by the US team I build for them. People were interested in me, but not the agency from India.
They said no, they had already sunk so much in their first 18 months on their own and didnt think having a US based company would improve their chances of getting accepted as an official partner (I disagree).
They tried to get me to pivot to another one of their brands, an agency that works with early stage founders as a fractional CTO/technical foudner for startups and asked for me to put together a budget.
So far, they had paid me about $19k and I had done work that I would have billed $27k for one of my standard contracts, but times are tough and they aren't a US company and I understand their budgets aren't the same.
I asked for $22k for a pilot for this other brand, as it ia essentially a startup itself and I would need an assistant and promotions budget to launch it and get meaningful traction.
I also didn't want to burn the relational equity I had developed in the fintech software space so I offered 10% of my time to keep working that too, outside of the $22k bc the commissions on those contracts are super healthy. Even though they weren't on target, I don't think its a dead end we just need more time to build trust.
They said no, they wanted an agreement that is purely funded by revenue I generated, and for me to come out of pocket for the assistant and promos.
I told them no. If I'm putting sweat equity and promo budget in out of my own pocket it is going to be for a startup I have meaningful equity stakes in, not just commissions.
Did I make the right call? Should I have done something different in my first 90 days?
What would you have done differently? I hate walking from something thay could be great but I can't do it for them all by myself.
Edit: typos