Putting yourself in a position to do business with large corporations takes motivation and perseverance, but the rewards can be considerable. No one has more money to spend than Fortune 1,000-size companies. The key is to convince the right people that you can make their enterprise run more smoothly. In representing an emerging company, you have to show that you're serious and reliable, that you can handle certain functions more efficiently, or that your product saves them time or money.
To succeed, you'll need to know something about the company with which you're dealing. Surfing the Internet or doing library research is a good first step, but 90 percent of the battle will be getting a foot in the door long enough to understand their needs. And getting your foot in the door of a big company takes some creativity. Here are some pointers:
Meet the right people. Since receptionists are trained to keep people out of the company, it takes ingenuity and detective work to find the back door. Start with your target firm's corporate Web site for basic background information. If you can, get your hands on a company directory to better navigate the hierarchy within each department. First, you need to know who the decision-makers, and then you can worry about how best to reach them. Learn the formalities, too. For example, most big companies have a purchasing department. Chances are purchasing isn't your best route to the real decision-maker, but you'll be better off understanding the department's needs when you do meet the right person.
Network, network, network. Read the same magazines and trade journals as these companies, as well as some they don't. If your research turns up a familiar name in the news or if you discover that someone important won an award, send him or her a congratulatory note on your company letterhead and include a business card. Compile a mailing list of decision-makers that you've found at your target enterprises. Send everyone your business's simple brochure; your brochure should include the names of some of your other clients.
Go to the conferences that they go to. Meet everyone you can, at every level. Get together with these people later for coffee to chat further. Pick their brains about the industry, about the competition, and especially about their company. Next time, ask them to bring their boss or someone else critical.
Become the expert. Turn your research into a value-added service. Start an e-mail newsletter on relevant business topics and include articles of interest. This way, you spread your name and reputation without being seen as a pest. Take notes at the industry events you attend, and then host a small conference at your office or have someone from your office speak on that topic at other events.
Finally, realize that doing business with large companies takes time. A recent Harvard Business School study found that it takes an average of five meetings or presentations to close a deal, and to break the ice at a multinational company magnifies those odds. Keep in mind that half your competitors give up after the first try, and 90 percent head home after four attempts. Be the patient one.
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