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Leveraging the Power of Large, Well-known Companies to Grow Your Small Business
Written by: Michael SchellArticle Overview: High-profile companies have the power of recognition and credibility. Discover the secrets (and benefits) of leveraging their recognition and credibility to grow your small business.
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Leveraging the Power of Large, Well-known Companies to Grow Your Small Business
When I started my small business seven years ago, I had the good fortune to
have a well-known and respected company as my first customer. Compared to my
local competitors whose clients were composed of local companies who were
unknown outside of our city, I had a distinct competitive advantage as I
competed for local and out of town business.
The bottom line is this: It's a lot easier to sign up new business when you have a marquee client or two. It's just simple psychology; people rationalize that a brand name customer would not associate with a business who could not deliver at a high level.
Consider some of the additional benefits of having brand name clients:
A note of caution: don't expect this process to occur overnight. It's likely to be a long drawn-out affair...but like many worthwhile things in life, it's worth your investment of extra time and effort.
And one more note of caution: While you are courting marquee clients, make sure you continue to add non-marquee clients to your customer base. It's all about balance.
Related ArticlesThe bottom line is this: It's a lot easier to sign up new business when you have a marquee client or two. It's just simple psychology; people rationalize that a brand name customer would not associate with a business who could not deliver at a high level.
Consider some of the additional benefits of having brand name clients:
- When introducing your
company, you can mention that you do business with well known customers
such as ABC Co etc, and this generates instant interest and dialogue
- Having a high-profile client
or two forces you to systemize your business processes in order to sell
to, communicate with, and service your name brand client's needs at the
high level they expect. And that's a good thing
- You can list your brand name
customers on your web site to generate instant credibility.
- You can mention your brand
name customers in your marketing material
- It makes it a lot easier to
garner additional brand name customers
- Brand name customers
typically pay their bills on time
- It's likely that the people
you would deal with in brand name organization have connections working at
other name brand organizations. Treat them well, and it is a distinct
possibility they will recommend you to appropriate contacts. Referrals are
the ultimate compliment and the best way to grow your business
- Once you have your foot in
the door with a brand name client, there is potential to do additional
business with them, providing an opportunity for you to expand your
service or product offerings
- You will find it easier to
attract high-quality employees. This is another psychological fact: People
take pride in their work, and working for a business that has high profile
clients makes people feel like they're working for a quality business. And
there's nothing duplicitous about this, because if you have a high-profile
client, you are that high quality business
- As a small business owner, having a marquee client provides you with a certain sense of accomplishment... and accomplishment is the very stuff that future success is bred from
A note of caution: don't expect this process to occur overnight. It's likely to be a long drawn-out affair...but like many worthwhile things in life, it's worth your investment of extra time and effort.
And one more note of caution: While you are courting marquee clients, make sure you continue to add non-marquee clients to your customer base. It's all about balance.
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