TheMiddleShelf.com

Following is a list of tips to help you, fellow entrepreneurs, best position your company to landing contracts and growing your business.

1.  Understand the company’s needs or pain point so you can ease, if not eliminate, their pain. So, who likes pain? No one.  Find out a company’s pain points externally through researching via the Internet, news articles, trends within the industry, and government or industry mandates.  Internally, you may want to have multiple contacts inside the organization because if you’re connecting with someone in the IT department, for example, you may find out that a pain point is in technology – a need that you can provide as a service.  Through your external and internal research there may be something of value that you can offer to that particular client through innovation or cost-saving mechanism.  Make sure to include that information in your request for proposal (RFP) process.

2.  Sell the value of your company to the appropriate audiences you are approaching. As an entrepreneur, you’re always selling your products and services through phone conversations, Websites, e-mails, social media and marketing materials, but it’s key to know your audience.  Know that your pitch to a law firm will be different from your pitch to a fashion boutique owner.  If you are selling to different audiences within the organization, the same rule applies.  If you’re talking to someone in the Purchasing Department, understand the key objective of any purchasing group – to save the company money.  Sell the value of how your company’s product and services can help save the company’s bottom line.

3.  Enhance relationships at various levels within an organization.   Always network.  Join professional associations or become a member of industry organizations.  For example, if you want to do business with HP; you might want to go to events that HP sponsors, giving you the opportunity to meet individuals within the organization to connect with.  Know the decision makers in addition to the influencers that can help you land contracts.

4.  Know your unique selling proposition.  What is unique about your company’s product and service?  Know your brand.

5.  At the end of a meeting, ask for the business.  Do not forget to make an attempt to close the sale at the end of each meeting with a prospective client.  Ask for the business.  If they are not ready to make a decision at that point, let them know that you are intending to follow-up after a week.  Also make sure that you have presented all the relevant information during the meeting and if not, make them aware that you will be sending them additional information within 24 hours.

Once you secured the contract, it does not hurt to under promise and over deliver. This is a very positive way of securing repeat business from a client.  Let’s say your contract  states that you  produce 10 deliverables.  There’s nothing wrong with giving the client additional 2 for a total of 12 so the client feels as though they are getting something they need but didn’t pay for.