Chasing the big deal
Many small deals may be a better idea
When you know that increasing sales will solve your problems, it is tempting to chase the one big deal that will get solve them all quickly. It could be a mistake. Maybe it’s better to say, “No thanks, for now.”
It can be great for your ego and your brand if you win a big deal and make the headlines. But it may be only a short-term win based on a small price difference, product improvement or service innovation. You may simply be a temporary negotiating tactic between the customer and their regular supplier. Don’t get too comfortable. The big guys will not leave you alone for long and they will not make it easier the second time.
Wining that big deal can solve some problems, but it may introduce new ones. Do you have the resources, suppliers and financing to deliver as promised? Will you now be too dependent on one big customer? Will your other customers be concerned, disappointed or feel neglected and start to leave? Have all the risks been considered?
Before even making a presentation or proposal on that tempting big deal, be sure to check that it fits with your strategic plan. Are you matching your competitive strengths to a clear long-term opportunity? Or are you “swinging and hoping”? Will you be able to build on this success or are you making an all-or-nothing bet?
Building your business slowly but continuously one customer at a time and one deal at a time will make you a stronger competitor and more likely to become the next big guy doing the next big deal.
Be better. Do better.
Your Uncle Ralph, Del Chatterson
Contact DirectTech Solutions at www.DirectTech.ca for consulting assistance on your strategic business issues, growth and profit improvement plans or your exit strategies.
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