As a small business owner, having a big corporate as a client can be the ultimate dream. Not only is it going to ensure that you have a constant source of revenue, it is also going to lead to higher brand recognition and brand awareness. So what can you do as a small business to potentially reel in the big one?
Find out which corporate companies actually have a need for what your business offers
This is the first thing for you to do. You need to find out the corporate companies that need something that your business can actually provide. Whether you have a product or a service, make a list of all the big companies that can make use of it.
Contact the right person within the company
This is the second step. Unless you can find who the right person is within the company, you are not going to go far. The trick is to know exactly what you are offering and then finding out who the person responsible for the specific thing is within the company.
Ask for help
Getting introduced is something that is not too hard if you already have a well-developed network. It does not matter whether you can directly find the person who deals with the merchandise you are interested in selling. Anyone within the targeted corporation will do. Use your social media networks to do this.
Prepare a great sales pitch
This is something that can make or break you. If you want to reel in a big corporate client, you need to have a great sales pitch. Take time understanding the needs of the corporate before you write down your pitch. You should have something to offer that fulfils one or more of their needs.
With dedication and effort, there is no reason why you will not be able to get a big client for your small business. It can literally put you on the map!
On the other hand, when you get a big corporate client, it can pose a few problems as well. It’s not all rosy. Here are the things to look out for.
Concentrating on only one client
This is something that can be potentially devastating. It is easy as a small business owner to try to do everything to please that one big client. But have you thought about what happens when the revenue you are making goes down? It makes sense to not put all your eggs in one basket and work towards better customer service for all your clients.
Problems with cash flow
It is easy for a big corporation to get longer payment terms from small businesses. But that can lead to a cash crunch if you are not careful. So study the terms being offered before signing.
Go for long-term
It’s in your best interest to get longer business term periods from the corporate client. You don’t want to be left out of the loop after you meet a short-term demand!