Whether you're new to business development or a seasoned professional, selling as a smaller company to a larger one is always a challenge. Unlike dealing with smaller companies, there's rarely a direct route.
(Plus, figuring out who holds the budget can be confusing).
I've listed three key distinctions in this blog.
First, reaching out to prospects in big companies can be tough.
With so many people and distractions, you'll likely need multiple meetings to address new concerns each time. Being referable is crucial. How you get into a big company sets the tone for what happens next. Leverage your existing network and referral skills. Once inside, aim to be referred around the company so the engagement process is not in the hands of one person.
Second, identifying budget owners can be tricky.
In smaller businesses, it's usually clear who controls the budget—often the owner or managing director. But in larger companies, each department has its own budget, and other departments might influence spending. Understand who else is involved and where the budgets actually sit. This will shape your sales and negotiation approach. Being skilled at getting referred around a bigger opportunity is essential to get the picture of how financial commitments are addressed.
Third, decision-making in big companies involves more layers.
They often have purchasing or contract managers with standard terms and conditions. Know these early on to decide if you want to proceed. These managers will negotiate the terms of your agreement, including the price point. If you can satisfy these different groups, you're in with a good shot. Larger companies usually follow a standard procurement pathway. As a smaller, agile business, you can decide if you want to be flexible to win.
In my next blog, I'll share three more considerations before diving into how to get referred around a business. Best wishes, Bob.