What to do when BIG companies come knocking

Big & Small

In today’s rapidly changing landscape, businesses of all sizes are working together. It’s no longer the case that big companies only do business with other big companies.

Anytime, Anywhere

The democratisation of technology, better access to lending and a global market for talent mean that your business can find clients anytime and anywhere.

Bigger & Better

This means that you have every chance of landing a big client. This can provide your business with many advantages.

Pro Tip:

Working with big businesses requires staff at their best. Think about giving a raise to retain your best staff.

Big B2B can take you to the next level

Revenue & Cashflow

Bigger clients often come with bigger budgets & while they can be slow to pay, you know they eventually will.

Enabling business development

The extra revenue from a big client can help fund the resources you need to go after more new business.

Simplicity and efficiency

Bigger organisations often have systems and people in place to make your job as a supplier easier & bigger projects should give you economies of scale.

Advertising and credibility

There’s nothing like landing a marquee client to make other businesses notice you. A prominent client can dramatically raise your profile.

Staff engagement and retention

Working on a high-profile client account can boost morale and make your employees feel more fulfilled by their work.

Plug into bigger networks

You can sell to other divisions within their business or form relationships with fellow suppliers who could send work your way.

Beware the pitfalls...

While big clients bring many benefits be aware of the challenges as well

1

They can leave a big hole

If you lose a major client – and this can happen without warning – it can take a long time to replace all the revenue.
2

They can be very demanding

With big budgets come big expectations. Large clients generally have a lot of process and approval requirements so they're going to take up a lot of time.
3

Payment can take time

They may take a long time to pay your invoices. That will almost certainly create cashflow issues, especially if you’re carrying third-party costs.
4

They can cost you money

You’ll may need to hire extra staff or subcontractors to meet the demand of a big project. Be careful those costs don’t get out of control.
5

Stress levels may go up

Meeting the expectations of a demanding client who’s just spent a lot of money with you can change workplace dynamics.

Whatever you do, remember that your clients – big and small – picked your business for a reason. Be confident in what you can do. Hold onto your small business roots. Be honest, upfront and give them the personal touch they simply don’t get from big corporates

Speak to your peers

It’s also worth asking any of your small-business peers for their B2B tips. They’ll each have different experiences and they’ll all have valuable advice.

Stay Flexible

Consider these B2B tips for working with big companies, stay flexible, and you could take your business places.

Get in touch with us today to find out more about CBHC can help you with your business.