If you are in business-to-business (B2B) sales, how do you find budding businesses that are growing? While getting the right small businesses as part of your portfolio can pay off big, there are two big risks to be aware of:
- The risk of non-payment
- The risk that your competitors will win away the business
Move Fast, Win Big
Iridium can send out a weekly alert when any of your prospects has received a cash infusion or is poised to grow. The alerts are triggered by events such as:
- Relocation or new development (when a company moves or signs a new office lease)
- An approved loan from the Small Business Administration
- Investment from a private equity or venture capitalist firm
- Receiving a research grant from the government
Companies using Iridium can customize their triggers by zip code, SIC code, size of loan or investment, or square footage of the office lease, to name a few.
Receiving timely alerts before your competition helps enable you to prioritize your leads and reach the right customers before your competition does – increasing the chances of a win. Imagine having Microsoft, Apple, Starbucks, LinkedIn and Twitter as your customers before they became household names. Would you have achieved double-digit growth by only having those five customers, and growing with them year after year? It seems like a pretty good strategy to me.
Image credit: Karen Roe