Bagging Preferred Vendor Status

How do you eat an elephant?

One bite at a time.

As discovery conversations take place with senior executives in each business unit or division of a multinational, inevitably a bite-sized piece will be uncovered. It may be that a particular line of business has an current need. It may be that one area of the business is willing to fund a pilot.

Simultaneous discussions have been taking place in several other areas of the Fortune 1000-sized company. Why? The objective of Big Game Hunting is to secure a company-wide vendor agreement.

In other words, during discovery conversations, the discussion may be whether or not your company’s solution would be relevant once success is demonstrated.

“Will it work here?” may be an objection your firm can put to rest after the first assignment is delivered.

Since your firm makes the case that your solution has widespread relevance, it is reasonable for you to go through the due diligence process required to become an approved vendor at the pilot stage.

Going through this arduous process can make it easier for other business units or divisions to use your firm once the first project is underway.

If you are asked for pricing concessions at the pilot stage, a purchasing agreement based upon volume assumptions can be negotiated. Since you are laying the groundwork for an enterprise-wide engagement, now is the time to build in incentives for other areas of the company to use your firm.

It is also the time to set customer expectations around deliverables and to educate about how you deliver a successful solution. This is not the time to compromise on quality standards. If the client wants a modified solution, document what the risks are to them.

A pilot can be a bite-sized piece: the first step in eating an elephant.