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How to Do Business with a Big Company
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Putting yourself in position to do business with the largest corporations takes motivation and perseverance, but the rewards can be considerable. No one has more money to spend than Fortune 1000-size companies. The key is to convince the right people that you can make their enterprise run more smoothly. Representing an emerging company, you have to show them that you're serious and reliable, that you can handle certain functions more efficiently, or that your product saves them time or money.
In order to succeed, you need to know something about the company you're dealing with. Internet or library research is a good first step. But 90 percent of the battle is getting in the door long enough to understand their needs. And getting your foot in the door of a big company takes some creativity.
Meet the right people
Since receptionists are basically trained to keep people out of the company, it takes ingenuity and some detective work to find the back door. Start with your target firm's corporate Web site for basic background. If you can, get your hands on a company directory, so you can better navigate the hierarchy within each department. You need to know who the decision-makers are before 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 these companies watch, and some they don't. If your research turns up a familiar name in the news or you discover that someone won an award, send them a congratulatory note on your company letterhead and include a business card. Compile a mailing list of decision-makers you've found at your target enterprises. Send everyone a simple brochure about your business that includes some of your other client names.
Go to the conferences 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 you need to know.
Become the expert
Turn your research into a value-added service. Start an email newsletter on relevant business topics; 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, then host a small conference at your office or get someone from your office to speak at another event on that topic.
Finally, realize that doing business with big companies takes time. A recent Harvard Business School study found it takes five meetings or presentations to close a deal -- trying to break the ice at a multinational company magnifies those odds. Keep in mind that half of your competitors give up after the first try, and 90 percent head home after four attempts. Be the patient one.
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