There are a few questions that I hear regularly from MBEs. Questions like: Which corporate members are most committed to supplier diversity? Or, Who do I know at so and so corporation? But the one question I most hear from MBEs is: How do I become a supplier to XYZ corporation? I most often admit that there is no simple answer to this important question, but that there are some things that a prospective MBE must do in order to become a supplier to one of our corporate members. First, the MBE must have a concise statement of their value proposition for that particular company. This is different from a general statement about what you can do for every corporate member. A client, a customer is not all that interested in what you can do for other customers. A customer is interested in what you can do for them. This specificity requires understanding who that customer is and what they are trying to accomplish and how your company can provide a solution to that particular customer's problems or support that customer's goals. Secondly, the MBE must have identified a range of opportunities that match their capacity and capabilities, and where there are gaps in those, the MBE must have an identified solution for the corporate customer. Thirdly, the MBE must have a game plan, a strategy, for marketing to the corporate member. This game plan must be realistic in terms of time, energy and resources that are necessary to complete the mission of securing contracts with that corporate member. And finally, the MBE must have the patience, perseverance and confidence to see this through. If the MBE is at the point of blaming the corporate member for not doing business with them, this is an indication of failure not on the corporation's part, but in one or more of the areas identified above. Could our corporate members do more? Absolutely, they can. But this is business for them. The value of your minority certification is that it gets you an audience and the opportunity to make your case when thousands of other companies would go to extreme measures for this opportunity. We can help you with honing your presentation to the corporate member. We can offer our support and recommendation based on your past performance. We can direct you to companies that based on our knowledge might make the best candidates for your company's goods and services. But ultimately the ball is in your court once the opportunity is created. Successful entrepreneurs answer the questions.
February 16, 2010
