Some new rules to an old game Guest post by LeShane Greenhill, founder, Sagents Partners, LLC
More than 92 percent of businesses in America are small and medium enterprises (SMEs). With entrepreneurial businesses representing such a large majority, we all can understand why SMEs are so important to the growth of our nation's economy. It’s no secret that doing business with SMEs provides a competitive advantage for today’s corporate elite.
Since May 2011, Sagents LLC has conducted more than 100 conversations with small business CEOs, sales managers and sales reps. After compiling our data and debriefing, we realized that three common challenges arose time and again:
1. Identifying corporate buying requests.
SMEs often struggle with identifying corporate opportunities for one major reason: They do not have the resources (time, money, expertise) to allocate to this sales activity. Without these resources, they are generally geographically confined to a smaller sales territory.
2. Gaining immediate access to these opportunities.
If SMEs are not already a part of a company’s vendor or supplier database, there is a good chance they will miss the window to bid on a request for proposal or request for quotation. Once the sales opportunities have been identified, how do SMEs gain quicker access to them?
3. Managing multiple sales opportunities with limited resources.
Selling to large corporations generally involves a longer sales cycle. For a typical SME, it can be challenging to manage multiple opportunities with limited resources.
We developed Sagents to match pre-qualified suppliers with ready-to-purchase private-sector buyers. The Sagents platform provides products, services and solutions that transform the way businesses gather, manage, distribute and communicate information.
This week, the Chamber announced a new Business Matchmaking program that helps SMEs shorten the sales cycle, increase visibility, and gain access to decision makers and better-qualified leads. Powered by technology from Sagents, this new offering helps growing businesses in Middle Tennessee connect with procurement offices in Fortune 1000 companies. To learn more, click here. Sagents Partners, LLC has been a member of the Nashville Area Chamber of Commerce since 2012.