Sick of losing tenders to larger more established companies?
Tired of not being taken seriously?
Always wondering how to get better recognition for your offering?
The answer is you need to show previous success.
If you are selling a commodity style product with little need for follow up service or guarantees then you can get away with being the cheapest on no track record as your relationship is solely transactional. However, as soon as you are offering a more complex service or products which require ongoing support and maintenance, then you need to prove the likely longevity of your company.
Can you bring on board employees or advisors from the industry you are entering? They will understand your client’s needs, the competition and typical costs in your industry. If they have good industry contacts then you can borrow their track record to give your company credibility.
Do you personally have a track record of setting up long standing businesses? If this is your first time out of regular paid employment then buyers will be nervous that you won’t last. The simple answer to this is that for the first 18 months to 3 years you are on probation. Customers will start to take you more seriously after that.
Branding, advertising and media can provide the appearance that you are a long standing company, but this will be seen through by many procurement departments when they have a closer look, so don’t overplay your hand on this.
Persist at your efforts. Do your best. Keep contacting customers. Be prepared to not grow as fast as you planned. Accept that the high growth stage is normally between years 3 & 7, but beat that if you can. Most of all, calmly accept that your customers will be watching for you to succeed before they buy from you.
No comments:
Post a Comment