Large companies show no worries about turning to SMEs as their product or service suppliers, provided that they bring their different products or services and/or specialized guarantee of quality, offer or have a close relationship with competitive prices. In this article, we will discover what the key strategic are to attract the big fish and close the deal in business through the suggestion provided here.
1 – Acquire the Best Talent
SMEs need to attract and retain talent and be surrounded with an environment of prepared and committed people. This is the best way to address the reservations, which can be attributed to SMEs before betting on them. In this sense, some companies leave behind the stereotypes that suggest that a good professional staff is inevitable, in fact, it is a closed circle.
If you work with big customers, you must have people to work with you and people will also be willing to join you when they hear the bog names and this is the simple formula to attract and retain the best people in industry. When you tell them you will be working with the largest in the industry, it works like a magnet to them and the same feature works to attract the big customers too.
2 – The Main Strength is a Differentiated Product/Service!
If a small business wants to take a large contract, it has to offers a product or service that is specialized, differentiated and tailored to the needs of the customer. It obviously cannot compete on an equal footing but it does not mean they do not have a chance to compete for large contracts.
Specialization in one type of product or service is another key to success and the adaptation of products and services to customer needs is another pattern to be followed by SMEs, which must demonstrate specific knowledge of the needs of the customer.
3 – Do not Be Overflowing!
Mortgage business with a single customer can be negative and have too many customers may affect the quality of work. Understanding how to combine these factors and determine how many clients in total can offer products and services is the key.
The number of customers is determined by the ability to provide quality service. The key is to have a portfolio of loyal customers and high potential for SMEs. In this regard, it is critical to focus on customer segment that is the most valued and beneficial and the level of expertise of the portfolio of products and services have greater potential. The optimal number of customers is what allows the balance between economic sustainability of the company and the level of quality requirement.