Great deals - cfagbata

How Start-ups Can Close Great Deals With Large Enterprises

One of the very common pitfalls of sales is, neglecting the people you are trying to sell to.

Some entrepreneurs, often, come with the mindset, of selling to the companies, rather than selling to the people, in the company.

If you can take care of this challenge, then, you would find it, quite easy, to make great deals, with very large enterprises, irrespective of the size of your own company, or, start-up.

By, simply, following some set of advice, you save yourself, from unnecessary stress, when it comes to closing great deals, with big enterprises. These are analysed below:

Knowing The CEO Is Not Enough

You might have a connection, say with the CEO of the company that, you are about to pitch to.

Do not feel on top of the world yet, as the CEO will not be the only member of the panel, or, a committee to access, approve, or, take the final decision on whether to take you on or, not.

The board and committee members want the best of great deals, for their company and do not, really, care about your relationship, with the CEO.

The CEO, or, any other Senior Manager, maybe quite excited about your product, but the final decision to land you that dream deal, does not lie in the hands of only one, or, two people that you believe are influential.

It might just be one person, like the Project Manager, or Quality Control Manager, for instance, that will, eventually, give a damning report about your supposedly, “wonderful product”! Your product, therefore, must be flawless.

Also read, Raising The First Seed Capital For Your Startup

All Must Key Into Your Product

In selling to a big enterprise, you will have to face a lot of decision-makers, who have a stake.

The CEO might have bought into your product, but you still need others, like the Product Manager, Operations Head, Quality Control Manager, etc., to buy into your product, before you can get the deal closed.

All these people are equally, as important as, the CEO. If they are not, wholly, convinced, then, your potential deal is, heading for a brick wall.

Research indicates that, some accomplished CEOs, base their decisions on their team’s feedback.

This is, why you cannot afford, to look away, from dealing with them, in your quest to getting them to key into your product.

An Internal Giant Help Cannot Push Sales

Okay, you have secured an influencer in the company you are trying to sell to and have gone, to a good extent, in convincing him, to be on your side.

Such a person may have given you the assurance of landing a good deal with the company.

Should that be the end? That is just, quite the beginning of your journey, as you will still need, to sell your product yourself.

Your internal contact, no matter how influential he, or, she appears to be, the total power of conviction, still lies with you.

Your internal person(s), cannot convince others, about your product, better than, you would do. A single person, excited about a product is, hardly ever enough, to influence the general feeling of the company.

Get To Know Them All

Do not just plan to work with your internal contact. Everyone else in the company is, also, important. The fewer people you will need to convince, the lower your chances of rejection.

You will need to be in touch with the IT guys that would guarantee the other members of their company, of the security of your solution.

Explain to the executive team, how your product will set their company, on a path of adding to their revenue.

This suggests that you need to know an ample number of people, working at the company. Beyond that, you will need to know about the company culture and ethics, to increase your chances. This process, of course, requires a lot of conversation.

There Is A Specific Need For Each Stakeholder

It is not just about selling alone. but also, having a clear understanding, of what each stakeholder in the company requires.

A Product Manager, for instance, wants more than the technical details, of your product. He, or, she may require knowing, how it will enhance the final product that comes out of the company, into the market.

The company, department and individuals, must all appear, in your equation. These three tiers are very important.
Try integrating them, into your sales process and this will get you closer, to striking your much-coveted deal.

Do Not Ignore The Power Of One Person

Balancing the need of an individual and a company might be, quite a daunting task, especially, if the decision of the individual is, quite negligible.

Balancing this to work is, however, essential, for closing deals. Is it in making the company’s job easier, or, well? You can outrank your competitors, with your product.

These should be able, to answer the need, for each stakeholder, in the company.

Striking great deals, with big enterprises, as a start-up, can be quite complicated, however, you need to talk to many people, within the company you are trying to penetrate.

Featured Image: mortgageintroducer