Seven Tips for Selling to Big Businesses Many small businesses make blunders in trying to sell to Fortune 500. Here's how to land a big account from the other side of the negotiating table:

By Carol Tice

Opinions expressed by Entrepreneur contributors are their own.

Seven Tips for Selling to Big BusinessesWhat does it really take to sell to big corporations?

It turns out, many small businesses make some basic blunders in trying to sell to Fortune 500 companies, according to Hewlett-Packard's director of global supplier diversity and sustainability Brian Tippens and Dun & Bradstreet's senior analytical consultant Phyllis Meyer and D&B's risk management vice president Bill Balduino. Here are their tips on how to land a big corporate account:

1. Do your homework. Prepared entrepreneurs know what products or services the prospect is already using that they might be able to provide. They've scoped out the competition and are ready to explain why doing business with their small business will be better, says Tippens.

2. Be ready with your short pitch. The "elevator pitch" is alive and well in the halls of big-company vendor departments, especially on mass "supplier day" events. Tippens says, be ready to explain what you do and why you're a better alternative within 30-60 seconds. "I've seen so many owners say: "What does H-P need?" says Tippens, "instead of saying: 'This is what I do really well. This is why I'm better than H-P's current solution.'"

3. Have your financials in order. Know that big-company buyers will investigate your credit, says Balduino, both when you land the account and on a regular basis. They're looking at doing business with you as a risk. "If your review shows you're in the red, you could lose the account."

4. Be able to deliver. If you don't have the manufacturing capacity to sell a big national chain your product, make that clear at the outset. Balduino notes big companies want to form ongoing relationships, not make spot buys, so be sure you can provide the volume they need.

5. Plan to follow up. Buyers are busy. Be a little persistent -- but not a pest -- and buyers will get the picture that you're serious. Leave your meeting by asking: "What is the best way for me to follow up with you," says Tippens.

6. Get pro business cards. Meyer says a joke at D&B is: "You paid for both sides of the card, so use them." Put a special offer on the back, and make sure it lists any professional licenses you own. Include your street address. Cards with nothing but your name, company name and an email don't present your business very professionally.

7.Get a company email address. Nothing turns off a major-corporate supply contact faster than hearing your elaborate presentation about your company's amazing abilities end with: "So please contact me at joebizowner@yahoo.com." Splurge on a professional email address that matches your company name.

Will you sell to big businesses this year? Leave a comment and let us know your goals.

Wavy Line
Carol Tice

Owner of Make a Living Writing

Longtime Seattle business writer Carol Tice has written for Entrepreneur, Forbes, Delta Sky and many more. She writes the award-winning Make a Living Writing blog. Her new ebook for Oberlo is Crowdfunding for Entrepreneurs.

Editor's Pick

A Father Decided to Change When He Was in Prison on His Son's Birthday. Now His Nonprofit Helps Formerly Incarcerated Applicants Land 6-Figure Jobs.
Lock
A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John
Lock
3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff
Lock
The Next Time Someone Intimidates You, Here's What You Should Do
5 Ways to Manage Your Mental Health and Regulate Your Nervous System for Sustainable Success

Related Topics

Business News

'I Am Just Floored': Woman Discovers She Won $1 Million Lottery Prize While Checking Her Email at Work

Initially, she thought the email was a scam, but went to lottery headquarters and walked away with a six-figure check after taxes.

Business News

South Park Creators Spent 'Infinity Dollars' Renovating Iconic Colorado Restaurant, Set to Reopen Soon

Casa Bonita, a long-time favorite of South Park creators Trey Parker and Matt Stone, went bankrupt during the pandemic. The duo purchased and painstakingly renovated the Mexican spot "like a piece of art," Stone said.

Leadership

How Leveraging External Trainers Can Advance Your Companies Growth and Talent Optimization

Discover how your organization can use external trainers to build capabilities, lower training cost and create a sustainable workforce for the future, while still delivering high-quality training and lasting results.

Marketing

5 Simple Tweaks for Better Email Deliverability

Email success starts in the inbox. Learn five easy ways to tweak your strategy so you can achieve better email deliverability.

Business News

'I've Got the Bug for Business': See All of Mark Wahlberg's Entrepreneurial Endeavors, From Marky Mark and the Funky Bunch to Wahlburgers

Mark Wahlberg owns businesses in several categories, including entertainment production, apparel, fitness, and nutrition.