We all know that the life blood of any small business is cash flow, customer cash, and customers.
However, data from the Australian Bureau of Statistics indicates that times are tough for smaller operators and, over the past ten years, conditions have worsened.
While small businesses contribute around 35 per cent of the value of the industry to Australia’s GDP, around 20 per cent of small business owners still earn a weekly gross income of between just $ 400 and $ 599 – that is, as little as $ 8 – $ 10 per hour for your efforts.
To power a small business, you must find those customers who can pay the right price for services, and become regular and repeat customers, which will then put the business in a position of strength and power.
The good news is that many of the large companies operating in Australia are actively looking to spend on locally purchased goods and services, putting small business owners in a valuable position. For many small business owners, selling to corporate businesses in Australia is a game changer and the best way to leverage.
That is the good news. However, the challenge is that it is not always easy to walk in the door with large corporations and businesses, so here are three ways to help you increase your impact and influence so that you see an increase in the flow of your income:
1 – Create a MAP and follow it
The business market is a very attractive target market, albeit a very large one. For a small or medium business owner, approaching a market of this size with a dispersal approach would be costly, time consuming, and inefficient. Therefore, the first step towards building a complete portfolio of corporate clients is to develop a clear MAP (Marketing Action Plan) and then work on that plan.
In your MAP, you want to determine what type of companies would be best for your services or products, align how your services are a good match for the corporate market, and develop action steps to target those relevant companies.
Remember that businesses are busy too, so you have to be consistent and persistent to get your foot in the door.
2 – Boost the presence and profile of your brand
To be noticed in the market, your brand must stand out from the sea of uniformity. For many small business owners, especially if they provide professional services, I encourage you to focus first and foremost on your personal brand versus your business brand. Make sure the decision makers at the target companies know you and what you do.
Volunteer on a committee, attend networking events and business chambers, speak at events; The more you establish yourself as a thought leader in your field, the more likely a corporate customer will buy from you.
3 – Be unique
One problem for small business owners trying to sell to the greater part of the city is that there are far more of you than there are of them. So you can bet that whatever service or experience you provide, you are not the only one, nor are you the only one in your field that features corporate clients.
So you need to be clear about what makes your service or offering unique – is it your terms, the way you deliver, the team members, your philosophy? How well you communicate and experience this uniqueness is crucial to getting noticed.
The bottom line here is that decision makers exist in every corporation, and you can often overcome the noise when you find the most creative ways to participate or find an entry point. If a door opens, go through it. If you have a creative idea, share it. Some of the most lucrative corporate deals I know of have been struck through chance encounters, outrageous marketing tactics, and a different approach. The only sure thing is that if you don’t put yourself in the game, you have no chance of winning.