Background
A journey to the north resulted in a reference at the south and subsequently resulted in years long strategic partnership. Industries, specifically the ones dealing with Enterprise markets and manufacturing heavily rely on existing relationship to develop new businesses.
PROBLEM / OPPORTUNITY STATEMENT
If you are starting a new business or your business proposition carries high value to the contract, in person, direct interactions are often key to succeeding. If there are conversation enablers or common trust sources, then the chance of success increases exponentially.
But how does one go about finding the right references?
CRITICAL CONSTRAINTS
References depend on your reputations and could stake their reputation in the market, going with anything less than a perfected solution or absolute ability to deliver on your concept is vital and extremely critical. Wrong introductions and conversations could close doors on years of cultivated relationships.
KEY OBSERVATIONS
Many critical and high value decisions are taken up past references and risk governed proposals. For instance, manufacturing contracts rely on references and past performance to grant, essentially multi year, multi million dollar contracts. This only takes a few weeks to accomplish for seasoned references.
SOLUTION
GoGlobal101 has relationships with the big four and research, advisory agencies such Gartner's. Even if the relationship does not exist, we focus on participating in industry events and essentially being placed at points of conversations wherein undiscovered relationships could be generated. We bring the advantage of such relationship to our clients, thus augmenting velocity to their business growth needs.
APPROACH TO SOLUTION
Value proposition is key to generating interest among reference groups and knowing that your proposition aligns with the network references interests is monumental for ensuring a deal progresses. The alignment needs to be ethically governed, structurally well placed and innovation simplified.
KEY SOLUTION METRICS
Reference driven networking usually generates business in multiple millions, it can be unpredictable at times, however is most effective
SOLUTION LIMITATIONS
Quality of individuals and proven track records plays a pivotal roles. At times vouching for wrong resources can prove to be very costly and deeply loss making for everyone involved.
PROCESS APPLIED
Develop a strong business proposition, be ready to present and be through in your presentations, such that there are nearly no rebuttals and demonstrate through professionalism in conduct. These are the absolute rules of engagement, being consistent in communications and expectation is key to succeeding.
REVENUE IMPACT
All enterprise deals takes months to mature and more than a year or two to start delivering on contract driven values, however, the time needed to know if you will succeed is greatly reduced.
AD-HOC CONTRIBUTORS
If government bodies are involved in any segment of the deal making process, the influence provider i.e. the references are often termed or seen as power brokers. They come from all walks of life, often present unexpected demands.
KEY BENEFITS OF SOLUTION
Shortens contracting duration and provides immediate access to decision makers.