Recently, I wrote about how important it is to improve your ‘public speaking’ skills, as that skill alone can give you an incredible edge in your business and/or investing life; Jacob asks:
How do you get in front of the large companies in the first place?
Before I answer that question, let me backtrack a little:
This isn’t a blog about how to earn more money in a job or consulting … because those, alone, are unlikely [AJC: for most] to get you to your Number by your Date.
But, as Luis gently reminded me, this is a blog about “how you can make $7 million in 7 years … no scams, no schemes … just good old financial advice!” so I had better be talking to those with large Numbers and soon Dates!
So, why did I choose today’s topic?
Because, you probably want to start a business to really ramp up those required annual compound growth rates …
… the problem is how do you transition from a small fish in a huge sea of competing businesses? Especially, if your business services other businesses (i.e. B2B) … and, particularly if the Fortune 1,000 is your stomping ground …
1. With better sales?
Possible, but unlikely, because Friendly McConglomerate – that multi-billion-dollar-multinational around the corner – already has a sales rep in each state, lunching your best prospects right now!
How do you, on your lonesome – even with the help of your out-of-work brother-in-law (who is ‘busy’ mooching off your limited capital and patience) expect to get to, let alone win over, all of those guys when you simply don’t have the gold Amex cards to splash around like your competitor’s reps?
2. With better marketing?
Hmmm …. you mean those leaflets that you stuck on all of those lampposts around the neighborhoods that you service? I’m sure they will really zing compared to that multi-barreled discount-coupon-backed television, radio, magazine, and letterbox drop campaign that your competitor’s ‘top of the town’ advertising agency cooked up!
3. With a better product?
Whoever it was who said: “build a better mousetrap and they will beat a path to your door” was wrong! A ‘better product’ ONLY works on the back of excellent sales and marketing, so you had better refer back to 1. and 2. above 😉
But, don’t sweat it, even with all their money, your major competitors are not really collaring the market either …
… and, while they’re out there spending money, there is still one way that your B2B business can compete – nay, totally smash – your ham-fisted-big-budgeted corporate competitors; it’s to:
Be seen by your clients – and competitors – as the expert in your chosen field.
You see, your competitors are actually wasting their mega-millions trying to get to – then ineffectively schmooze with – the middle managers who don’t even have the capacity to actually make buying decisions without referring their proposals to the Big Guys Upstairs …
… but, if you are the expert, you are side-stepping this whole time-and-money-wasting ‘sales process’ simply by using your Industry Expert status to:
1. Gain free publicity in the general media and/or trade press that the decision-makers actually see and read, and
2. Virtually demand – and, get – interviews with those same ‘top management’ guys for the clients who actually need and want your product or service, and
3. Present your ‘proposal’ to all the decision makers so that you set the ground rules that your competitors will need to follow.
So, Jacob, the answer to your question about how do you get in front of the large companies is simple: become the expert in your field and all doors will magically open.
Just remember that being ‘the expert’ gets you to the table … it’s then up to you to close the deal.
In an upcoming post, Jacob, I’ll tell you HOW to become an expert in your chosen field, something that I’ve done 2.5 times already!
It’s easier … and, much quicker … than you think 😉