How To Overcome Your Fears And Beat Competitors In Their Own Game

                      

#Business

Most  entrepreneurs would love to land large corporate accounts, but they often don’t try for one simple reason: They are afraid. “smaller companies get intimidated by them, “says Guy Sophie, the President of Global Insite, an Austin, Texas, Consulting firm with annual sales hovering around $200,000. “So instead of trying figure out how to approach larger companies, they just write them off as potential customers.”

On the blog today, I am going to discuss on what an entrepreneur needs to do in order to overcome the fear, and equally map out strategies on how to win big corporate accounts. I just want you to relax and continue reading this post.

However, taking about fear it can be justified, says Sohie, who specializes in helping smaller businesses sell to bigger ones. Corporations tend to do business very differently than entrepreneurs.

They’re more hierarchical, more conservative and slower to react. In addition, it’s not easy market to break into – especially now that the trend at many bigger companies is to use fewer suppliers.

Nevertheless, Sohie believes, entrepreneurs should still pursue corporate accounts. It’s not just the initial revenue you get, “ he says, “once you’re in there and do a good job, one division in the company can easily refer you to another.

Also read..  How to Overcome Your Fears and Move Your Business Forward

BIG-TIME EFFORT

The first step to getting a considerable account is to spend time doing research. Since bigger businesses are, by nature, more complex, you’ll conceivably need to more research on those companies than on smaller ones. Through networking, communicating with suppliers and reading business publications, unearth all you can about the company. What are its plans? Marketing strategies?

Don’t just stop there, however follow through and take extra steps towards landing that great account. The steps are as following:

      Focus on the company’s current challenges and those it’s likely to face: Then determine ways that your products or services can help the company not just meet those challenges, but overcome them.“Present a departmental head with a solution to a problem – don’t just go there and try to sell something,” notes Sohie.

    Find out where cutbacks have occurred: As Corporations concentrate on core business, they often trim non-essential departments and outsource more work. This could be a chance for your company to supply them with the services that used to be done in-house.

    Get the names of managers in the targeted department: Talk to them about their jobs, particularly some of the obstacles they confront. Find an ally on the inside, who can help facilitate sales. Don’t says Sohie.
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Concentrate solely on the purchasing agent. Their job is to focus on price,” he says. “You want to seek out the person who needs help doing his or her job.”

  Find a niche: Create a product or service that doesn’t go head-to head with that of larger suppliers. Rather, try to make a smaller inroad by offering something unique to a company. To help do his, Sohie suggests making a detailed list of all the benefits your products or services can bring to the larger company.

     Keep in mind that big companies have suppliers calling them every day: But if you’re able and ready – to provide something different that solves a specific problem, you’ll stand out and just as important, avoid a price war that you probably can’t win anyway.

Use your size: Instead of being intimidated, emphasize the advantages of smaller companies over their larger competitors; speed, customization, service and access to top management. You’re apt to be more eager for the business. Let the big boys know it.

    Consider partnership: Look for someone you can work with on this one sale-even if it’s competitor. Getting in the door is often worth the shared sale.

Be patient: Entrepreneurs usually aren’t too keen on the slow, methodical way corporation organization operates – in fact; it probably reminds them of old job. Don’t expect the quick answer or give or get from smaller companies.

Finally, be prepared to be scrutinizes, probably like you’re never been before. In a very deliberate, detailed manner, corporations are likely to go over financial and other information, particularly before committing an order to a company that, in their minds, is untested.

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