Business mentor: Winning big can take time

Q: I run a small business providing technology training solutions and I am seeking large corporate clients. What is the best way for a small business to approach and work with large corporates in New Zealand and overseas?

* John Morrell, founding director of New Zealand Business Forums replies:

A: There is no single solution or "best way" for a small business to secure large corporates as clients.

The challenge in the first instance is to differentiate your small business from all the others.

Assuming that you are technically strong and good at what you do, you need to become adept at selling and marketing your services.

This is what holds most small businesses back - they are technically sound but are not strong marketers. I would suggest that you first ask yourself:* Which corporates should I target?

* What specific technology training should I offer them?

* How can I introduce myself to the chosen corporates?

Having focused on a specified list of ideal corporate prospects you need to:

* Identify the internal decision-makers regarding training spend.

Typically if you are introducing a new service, you need to tap into an existing budget or create the need to establish such a budget.

* Endeavour to be introduced to such people by somebody who knows your capabilities and who will act as a referral source or advocate.

Successful small business operators are inevitably good networkers, which helps them achieve business introductions.

Leveraging the power of third party endorsement is the most effective way of getting to see decision-makers. Doing your research and homework on prospects and then being introduced to them by a third party is far more effective than cold calling.

There are opportunities for smaller companies to form partnerships and alliances to deliver services to larger companies.

Experience working with professional services firms has helped me realise that there are real efficiencies to be gained by effectively moving best business practice across a larger group/market .

Costs can be amortised over a greater group (reducing the cost per job/project) and continuous learning (we all make mistakes) can save organisations from reinventing the wheel.

This approach has a long gestation period and the time from selling the idea to the time that the business starts to flow can be long.

The benefits, however, will outweigh this disadvantage and you could secure long-term clients.

Most small players lack the tenacity and persistence to attack the corporate market, which reduces the competition.

The trick is to balance the short-term cashflow jobs with the medium, long-term business from corporate clients

Good luck with your campaign. Have fun, after all your enthusiasm for what you are all about is what will win the business.

* E-mail JM Business Forums or call 0274965-172

NZBF specialises in helping corporate and professional services firms leverage their respective business relationships with an emphasis on the SMB-SME space.

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