HOW SMALL BUSINESSES SUCCESSFULLY SELL TO BIG BUSINESS Big Game Hunting in the Urban Jungle Catherine McQuaid CM Associates
HOW SMALL BUSINESSES SUCCESSFULLY SELL TO BIG BUSINESS
Big Game Hunting in the Urban Jungle Catherine McQuaid
CM Associates
Business Development Principles
•Executive outreach
•Permission-based, pre-qualified conversations
• Improving the Odds: BIG pipeline
•Engage ALL stakeholders
• Messaging: Relevance to various roles’ needs
•Each business unit is a different opportunity
1.Executiveexploratory
conversations all biz units
2. Referral to other roles
in decision: warm intro
3. Exploratory conversations with
all roles in decision, all biz units
4. Initial project secured;
development continues in other biz units
5. Brag about outcomes to other biz units Enterprise-wide
vendor status
6. Re-engage: new executives, acquisitions,
reorganization
Case # 1: Becoming Market-Ready
• Startup with deadline to repay investors• Revenue was unpredictable, no asset value
• Long-term contracts secured:• High-volume, blue chip credit card issuers
• Future value of contracts a cash asset• Co. profitably sold
Case #2: Leverage Sector Success
• Early-stage specialty firm: Fin. Services client• Market potential in Canada limited
• Pricing model depended upon large head-count• Top 20 US fin. Ins. targeted for expansion
• After 3 yrs: 24% growth compounding annually• Pref. Vendor status with 7 of 20 US banks• Cons. Fin. entrée to other sectors: retail, auto
Case #3: Vertical Biz Dev Strategy • Point of Purchase design-build offer
• Bldg. Supplies retailer shift:contractor to DIY
• Feet-on-the-street: access to “implementers”
• Outreach: US-HQ Mktg. Exec.
• Biz Dev investment repaid in 13 months
Golden Rules
• Simultaneous outreach inside multi-line bus.
• Cold call only once: referrals from there
• Reconnaissance mission
• “THEM” vs. “I” message
Big Game Hunting in the Urban JungleBusiness
Catherine McQuaid
Principal
Big Game Hunting
416 923 0877
www.HuntNewBiz.com