Success often boils down to who and what you know.
That's especially true when it comes to snagging contracts with
major corporations.
Supplier diversity programs have given women a jump on the who
part of the equation. Much of the what factor can be found by
reading, doing and talking. Four supplier diversity insiders offer
tips to increase your knowledge and possibly provide the edge you
need to secure that contract.
Tip No. 1: Know what type of supplier diversity programs
you're dealing with. Otherwise, warns Chicago management
consultant Ralph G. Moore, you'll waste time and energy trying
to work with corporations whose effort is merely window dressing.
Most programs fall into one of five categories:
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1) Token programs are at the bottom of the barrel.
They're typically nothing more than a contact number that's
never answered. 2) Basic programs are embryonic efforts,
which respond to queries and attend trade fairs. 3) Companies with
traditional programs are active in advocacy efforts and have
an easily identifiable program leader but tend to limit contracts
in noncritical areas, such as janitorial or office supplies. 4)
Advanced processes incorporate supplier diversity into the
way the company does business; companies have a stake in women
suppliers doing well. 5) A world-class process permeates the
corporation from the CEO down. Suppliers compete for
mission-critical contracts, and the second-tier supplier program
has built-in accountability requirements, eliminating lip-service
subcontracting.
Tip No. 2: Look for opportunities to connect with a
corporation. These connections don't have to be related to
procurement, says Debra Faraone, who regularly works with the
procurement department at Freddie Mack and owns The Elements,
a corporate gifts company in Great Falls, Virginia. Other points of
contact with corporate executives include joining trade
associations they belong to, serving with them on industry
committees or being involved in community causes they support.
Tip No. 3: Be short and sweet when sending marketing
materials. Enid Mary Winn, senior vice president and director of
the Chase Manhattan Bank Minority and Women-Owned Business
Development program, suggests you focus on your essential unique or
value-added service. If corporate buyers don't know what's
in it for them by the end of the first paragraph, they're not
going to read additional material.
Tip No. 4: Be persistent. Leslie
Saunders, whose Lutz, Florida-based boutique insurance agency
specializes in rental car insurance, has done business with eight
Fortune 1000 companies. She says just tacking "certified"
after your company name doesn't ensure you'll be beating
buyers off with a stick. They probably have a vendor supplying the
product or service you offer, so it may take a while to get them to
consider you.
Tip No. 5: Don't display an "entitlement
mentality." Saunders says many corporate employees already
perceive women as having this mind-set. Excelling at what you do,
providing good products and services at competitive prices, and
demonstrating good marketing skills may help adjust this
attitude.
Tip No. 6: Try to understand a corporation's thinking
about procurement strategies. Do this by attending meet-and-greet
functions, especially those hosted by the companies you're
interested in.
Ysabel de la Rosa is a freelance writer in Madrid, Spain, who
specializes in international business.