As a new business, your first business contract is memorable. Its successful execution and completion are what puts you in the limelight and send a message to other potential clients so that they know you can deliver. That is why for small businesses, attracting and keeping clients is the game changer.
But for any type of SME, the competition is usually stiff. There are usually too many businesses chasing few contract opportunities and it can be rather difficult attracting the leads you need. So, what can you do to increase your chances of landing your first contract?
Create a network list –
Competing successfully with hundreds of other small businesses and landing that business contract will be difficult, if not impossible unless you have an ace up your sleeve.
For some people, that ace is the people they know who can help them get one foot through the door. But if you don’t have the advantage of a network, you should create one.
To get started, create a list of company prospects you will like to target, then map out a strategy that would create an opportunity for you to interact with the people that matter. Before you run through your list, persistence will pay off.
Focus within your sphere of influence –
One of the easiest people to sell to are people you know, or those that know about the skills you possess. The plan is to land the first business contract that will open the door for others, and not necessarily a multi-million pound engagement deal.
It is a lot easier to key face-to-face meetings with decision-makers in companies you worked for when employed, or those located within the same city as you. In fact, one study showed that corporate decision makes tend to favour vendors located close-by when making business decisions. Therefore, take a good look within, before going out.
Emphasize your brand –
When it comes to impressing corporate decision makers, your brand needs a loud voice. For this reason, one of your most important responsibilities as a small business is building your brand to the point where it becomes synonymous with the identity you are trying to achieve.
There are a number of cost-effective methods of brand building, such as being active on social media, running regular promotions, sponsoring local events and content writing. The more you portray yourself as an industry in your field, the easier it will be to attract your first contract from a corporate client.
Show you know what you are talking about –
One thing about persistence is that it usually pays off. Therefore, chances are that after a while of cold calling, social media posts and local events sponsorships, you will eventually clinch a meeting with the decision maker of a corporate client. But all your effort will be for naught if you are unable to show that you know what you are talking about.
While you are doing the needed publicity, ensure that you keep up with what is happening in your industry so that when you get to the meeting, you can prove that your business is the best for the job.
There are other handy tips in this guide that would help land your first business contract in the public sector, but hopefully, this short article has provided some needed insight.
Remember, luck is simply opportunity meeting preparation.