Monday, March 11, 2024
Let me tell you a quick (real) story
There was a Aerospace products manufacturer who considered us an "Awful" supplier.
He NEVER gave us an opportunity.
Why?
Here's how one of the key customer representatives described us:
"... we tried you guys and we got terrible support from your team. We don't want to do business with you."
Ouch!
The business potential of this particular customer was in multiple crores,
...and it looked like a dead end!.
But...
We did something about it.
...and we found a leverage (You'll know shortly)
After 6 months of continuously focusing on this customer, we got the first opportunity to do business with them.
Here's how it later rolled on.
1st Year - ₹4 Lakhs Business
2nd Year - ₹ 9 Lakhs Business.
3rd Year - ₹75 Lakhs Business (700+% Growth )
and recently... In 9 months - ₹1.51 Crores Business
Boom!
We did the same with other customers in different industries & Different Segments and got similar high-growth results.
So, how did we do that?
What did we do to go from "We don't need you" to becoming a "Preferred supply partner"?
It's all about:
"Winning Over Resistive Buyers & Turning Them Into Loyal Customers"
But first...
You need to understand which type of supplier you are? (From their perspective)
Refer the below Image:
You'll be one of the 4 types of supplier.
if the buying potential of the customers is large, and...
If you're the Type 1 - "Asset" Supplier - The opportunity that comes your ways will be in Lakhs and Crores.
If you're the the Type 2 - "Alternative" Supplier - You may still get a few good opportunities. (Most often when Type 1 fails at something or a safety net for critical items)
But...
If you're Type 3 (Ad Hoc) or Type 4 (Awful) supplier, you'll NEVER be able to tap into the potential to grow your business in such high-value customers.
Want to hear some good news?
No matter which type of supplies you currently are...
You can become the Type 1 - "Asset" Supplier and win big business.
Even if you can win over ONE high-value resistive buyer and convert it into a Loyal customer...
Your business can possibly grow in lakhs or crores.
Started my Career as a "Sales Engineer" roaming in Industrial areas in Bangalore on a Two Wheeler meeting and getting new customers.
And now, an Author of a Amazon's Bestseller book titled: A Salesperson's Honeymoon, A business owner having Two Distribution Businesses, A Service Business and an impending Manufacturing Business and A Business Growth Coach having trained more than 10,000 people.
I believe that the current education system doesn't breed entrepreneurs and hence on a journey as a Business Growth Coach to help business owners transform their business from "being stuck" to a "Growth" driven business.