big game hunting 3 cases
DESCRIPTION
Catherine McQuaid, a Toronto-based business-development consultant (www.huntnewbiz.com), has a theory. She calls it "Big-Game Hunters in the Urban Jungle." It's an approach to prospecting that might help you build stronger relationships with hard-to-reach executives.TRANSCRIPT
HOW SMALL BUSINESSES SUCCESSFULLY SELL TO BIG BUSINESS
Big Game Hunting in the Urban Jungle Catherine McQuaid
CM Associates
Business Development Principles
•Executive outreach
•Permission-based, pre-qualified conversations
• Improving the Odds: BIG pipeline
•Engage ALL stakeholders
• Messaging: Relevance to various roles’ needs
•Each business unit is a different opportunity
1.Executive
exploratory
conversations
all biz units
2. Referral
to other roles
in decision:
warm intro
3. Exploratory
conversations with
all roles in decision,
all biz units
4. Initial
project secured;
development continues in
other biz units
5. Brag about
outcomes to other biz
units Enterprise-wide
vendor status
6. Re-engage: new
executives,
acquisitions,
reorganization
Case # 1: Becoming Market-Ready
• Startup with deadline to repay investors
• Revenue was unpredictable, no asset value
• Long-term contracts secured:
• High-volume, blue chip credit card issuers
• Future value of contracts a cash asset
• Co. profitably sold
Case #2: Leverage Sector Success
• Early-stage specialty firm: Fin. Services client
• Market potential in Canada limited
• Pricing model depended upon large head-count
• Top 20 US fin. Ins. targeted for expansion
• After 3 yrs: 24% growth compounding annually
• Pref. Vendor status with 7 of 20 US banks
• Cons. Fin. entrée to other sectors: retail, auto
Case #3: Vertical Biz Dev Strategy
• Point of Purchase design-build offer
• Bldg. Supplies retailer shift:contractor to DIY
• Feet-on-the-street: access to “implementers”
• Outreach: US-HQ Mktg. Exec.
• Biz Dev investment repaid in 13 months
Golden Rules
• Simultaneous outreach inside multi-line bus.
• Cold call only once: referrals from there
• Reconnaissance mission
• “THEM” vs. “I” message
Big Game Hunting in the Urban JungleBusiness
Catherine McQuaid
Principal
Big Game Hunting
416 923 0877
www.HuntNewBiz.com