Some months ago I came up with a fairly unique web based idea that can be beneficial to businesses. I have had several meetings with 2 major UK employers, and both seem keen to take the idea on board. I have submitted quotes for the service to both businesses, and now it is a waiting game. I did do a "follow up" to one of the companies, and their response was they are still considering the product, and due to the current financial downturn, it may take longer than anticipated. I am now faced with some major problems: 1. To have these businesses sign up for my service would be a huge boost to me, and if other companies see that I have two well known names on board - it will only make my service more appealing. 2. I no longer have a job, I have put all my time into developing this idea, money is now very tight, and Christmas is around the corner. So I have been thinking that if I offer my service to these two major companies for free, it may well attract other companies to take the idea on board. Or should I hang on a little longer to see if they accept the quote I put in? I really do need to find out if this is going to work out for me now, money is really tight, and I am thinking of calling it a day, and trying to find a job. Any advice is appreciated
well if you are concidering offering it for free, before you do that you may as well try another tactic first to get paid for it. if you are able to contact the company that is most interested, you should find a professional way to let them know you have another company equally interested in your service who has already agreed to pay for it. Tell the company you are willing to let them have it first if they can make the payment sooner. This way they feel they should get on board before losing the chance, plus you are being honest in saying there is in fact anotehr company interested in the idea. Also, if they still turn you down you can offer it for free to the other company. Did that make sense? lol. I'm not a pro in this field, but it just seems like a possible tactic to try out before offering it for free. of course you want to come up with a very professional way to pitch this to them.
There is another option for you though. You could try to get both companies on board. I guess that if you do the thing I am about to tell you, you will have them both on board and they will both pay you the quoted prices. You must be asking yourself now, "but how?". Well, if they have showed certain interest in your service this means that they really want it integrated with their businesses. Just tell them that you give them a trial period of let's say three months - like a Christmas present During that time you will have to work your @$$ off to make them feel secure with what you are offering them, so that they continue using your service once the trial is over. Give them occasional calls and ask them if they need anything, like support, something revamped or anything of that kind, you know what I am saying. Make them feel special, and always make your message, be it on the phone, via e-mail or IM sound personal, like it was addressed just for them. If the service you are offering them is of good quality they will stay on board with you for a long period of time and you will see more customers coming your way. Best of luck! aah, and keep us updated. I'll be happy to hear more about your company's progress. turbulence
Thanks for the advise guys. The service I am offering can be beneficial to any business, and because it is web based, I can have hundreds or thousands (I wish!) of businesses on board. All I have to do is meet with the company, show them how my site can benefit them, and see if they take it! The problem is, is I need a well named company on board to get me started! Managing directors of two of the companies (both of whom have also been giving me advice on how to progress) have said I could charge businesses £5000 a year for the service. I have submitted a quote to these two companies for £2700. I need them on board so it makes me look "stronger" when I try to sell to other businesses, basically I need them more than they need me! I am very nearly broke - should I bite the bullet and give the two companies this for free, in the hope it will attract more paying custom, wait - and hope they pay, or call it a day and get a job?? Don't suppose there are any UK based venture capitalist on here is there???
Alright, I see that you are in a bit of a dead end situation here. You have quoted the two companies for $2700 and there is still no response. That quote is fine, having in mind that the managers of these companies have evaluated your services for a higher price. Now, what you need to do is write an e-mail with a personal touch like a follow up to the quote. This e-mail will have the 30 day hold in it. What is that you say, well, remember my idea about the Christmas present from my post above? OK, here goes the thing that will complement it. Write both managers a letter letting them know that you are sure they will love the service, and that you are not even going to cash your check until at least 30-days after you have activated the service. Tell them that this will provide them with plenty of time to examine the service and discover for themselves how wonderful it is. Let them know that if they feel dissatisfied, they will have the chance to cancel the service and you will send back to them your UNCASHED check. If they pay you by credit card, tell them that you will not process your credit card for 30-days. If they decide to return the product, you will destroy all of your credit card details and their cards will never be charged. If that doesn't bring them on board tell them that they have the 30 day trial period and once this period is over you will be charging them $2700 for life or whatever the quote was for. This should be your last resort, though. The main goal here is, as far as I got it, to get those two big sharks on board and attract more clients through them. Well, that is all from me. Hope it helps you close these two deals. Good Luck! turbulence
Turbulence, Thats actually a REALLY good idea...what you are doing is removing all risk from the buyer so that issue is removed as a stumbling block. It's not easy to sell someone something worth 2700 but if you remove the risk factor it gets WAY easier. Great Post! +rep
No don't fall in their trap. They are waiting you to offer your service for free. Call them up every morning to keep them remind of this service. And threat them if them don't approve this idea within week. You will sell this idea to other interested company
Yes jryan54, that is exactly what I am trying to achieve with the 30-day hold. Removing the risk factor and the fear factor is of great importance when doing business. I have plenty of experience as a sales and business person and I acn tell you that this really works and has been tested many times. Thanks for the rep btw turbulence
Some great points were made here, thank you for the useful tips guys. Another thing to take into account is the position of the two companies in question in this deal. You have to converse with them in a very specific manner. I mean, you have to ask them open ended question. Questions that will force them to talk and discuss things more. Once they initiate a conversation or a discussion, no matter what they use be it online via IM, email or the like or offline, you will have to listen to them very carefully in order to define their needs and desires. Only then you can establish interest in them, showcase the benefits and the features of your service, present yourself and the organization, and then close the deal. If you do not know the order and how to carefully conduct this you run the risk to loose them as clients. All in all, you have to be very careful with such big names, because they have a team of pro marketers and sales reps working for them. This is like a game of battleships. You have to sink their battleship first with a carefully implemented tactics...
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You're supposed to quit your job after your idea takes off knucklehead. Get yourself working again, then focus your free time on getting the idea off the ground.
jobs are for the weak and afraid you can also offer a few options for payments in your grand opening. Like a small payment plan or a half now half later deal just to get them into your service then hopefully you can do a good job so that they can. Also let them know that you really want to work with them and help them out and that they will be helping you out. Business isn't always run by heartless robots there are people inside those businesses. Offer your desire to work personally with them to help them out and tell them that giving them options is a better way. List them half now half later or small fee for a trail then more later.