5 Tips to Landing Your First Business Deal

Jul 20, 2015 • Entrepreneurship
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Entrepreneurship is thriving in the United States with approximately 543,000 new businesses created each month, according to Forbes. Starting a business, therefore, is not a hard thing to do, but getting the first client can be a daunting task. Here are five tips that will help you get your first business deal.

1. Marketing

Advertising your new business is the best way to attract potential clients. You can spread the word by attending conventions and conferences relating to your field of business. Friends and relatives can also help you by referring you to prospective customers.

Social sites are a great way to advertise your business. Create pages for your business on Twitter, Facebook, LinkedIn, Google+ and any other social sites that are used by potential customers. You also need to have a business website or optimize your current site. A good website allows you to sell your products and services online.

2. Know Your Target Clients

You should list all your potential clients and investigate them as much as possible. Learn as much as you can about each customer and their current product or service providers online.

Also, try to understand how your clients think and work. The better you understand them, the easier it will be to woo them and finalize your first deal. Use your knowledge of the customer to explain how you can help them to attain their goals. If you can identify their problems, your ability to offer a solution is defined more clearly.

3. Perfect Your Pitch

If you get an opportunity to deliver a sales pitch to a potential client, make sure you utilize it. You possibly will not get another chance to impress the client; make sure that you make every effort to impress and deliver the best pitch you can. Your pitch should clearly explain why you are the best option to offer the services.

Do not become intimidated or tongue-tied when dealing with a big client. Stand your ground and do not back down or get terrified. You may need to show some audacity to convince a client that your business is worth the risk. Lay out all the advantages they will get by working with you.

If you are unsure of yourself, enroll for sales negotiation training. The training equips you with skills necessary to reach the best win-win solutions for your business and your client.

4. Collaboration

You should work with other related enterprises that can help you attract customers to your business. If you always see your competitors as rivals or enemies, you may never succeed in your business venture. Sometimes, competitors can refer clients whom they are unable to serve to you. If you work with them, any surplus business they have will be directed to you, getting you much-needed clients and, hopefully, your first business deal.

Working with the competitors also helps you to increase the reach of your business. Together, you can take your businesses to greater heights and increase your clientele exponentially.

5. Don’t Quit

According to Wasp Barcode State of Small Business Report, 47 percent of small businesses are more confident about the economy than 12 months ago. Therefore, do not quit. Landing your first deal may not be easy and sometimes it may take you months. You may also attend countless fruitless meetings before landing your first deal.

You should accept any refusal and try to understand why your product or service is not being accepted. Refusal by many clients is usually due to a problem with a part of your product or service. Fix any errors you notice and try again because you are bound to get a satisfied client in the end. The harder you work on your products or services, the more likely you are likely to land your first business deal.

These five tips, if properly used, should help you land your first transaction and have you well on your way to having a larger customer base. | Images via Shutterstock

Alex Espenson

Alex Espenson is a technology writer with a passion for home automation, tech security, and wearable smart devices.

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