When building a company that services much larger organizations, the pressure can be scary. Starting a small company that creates technology in the B2B space is both exciting and at times overwhelming. Everyday choices on how to give great service to the business customers, while continuing to develop the product and not over extend our resources is a daunting task. These are 3 ways your startup can work with larger companies.
1 Focus on our niche.
Instead of trying to create a larger much better feature packed product than what currently is on the market, try choosing to focus on areas that are of importance to the end-user but not serviced properly by competitors. tocario’s ultimate goal is to make access to work software more fluid and efficient. We do this by creating cloud workspace technology that doesn’t limit the user to their one device or OS. What offer service providers is a fresh view on the way they give their customers access to workplace software by adding to their current portfolio of offerings.
2 Follow the A.B.C. rule.
As in the film Glenngarry Glen Ross, “Always be closing.” In the early stages of a company you must stay persistent in getting new client revenues but should also know when to cut your losses and move on. Traditionally, large organizations have long approval periods for new contracts. When you are still small, time is your enemy and speed is your friend. Focus on contracts and agreements that will help you reach critical mass in recurring revenues as fast as possible. This may change the targets of your sales team or you may have to actually say no to potential business if their process is too slow. Once you have closed enough contracts with recurring revenues, you still have the option to go back and look at that other potential business. At this point you should have clients and testimonials which will make it easier to gain trust and reduce future closing periods.
3 Never over promise.
Reputation is everything in business. If you promise something make sure that you can over deliver. Making sure that you can not only meet demand but exceed expectation will make sure that your customers will continue coming back for more business. Sometimes there will be temptation to accept all business that comes your way. Unless you have infinite scaling capabilities (which you don’t), I recommend keeping a high focus on customer service. As the saying goes “happy wife, happy life” the business equivalent would be “happy customer, happy business.”
Working with large companies can be tricky. Finding your niche, learning how to recognize good business opportunities and over delivering on your promises your business will thrive. Stay patient and true to your mission, the rest will develop itself over time.