The Coffee Bean & Tea Leaf(CBTL), Business strategy case study
How to sell to Fortune 100 companies? - An Insider's perspective - By Rahul Vijay
1. Mr. RahulVijay
Managing Infrastructure Sourcing & Partnerships
Walmart eCommerce
Audience: Australian Startups @ elevate61
Venue: Cuckoo’s Nest, 68 Willow Road, Menlo Park, CA
2. Partnerships &
Sourcing
• Walmart eCommerce
• Model N
• Cypress Semiconductors
Startup
• Upriso
Business
Development
• WeVideo
• The Startup Angel
Management
Consulting
• Verizon Business
• Hitachi Consulting
Engineering
• Software Engineer: Bank of
America
• Hardware Engineer: Dell
Other Jobs
• Internal Communications
• HR
• TV Production
• Anchoring
• Therapeutic Massages
Mr. RahulVijay
Managing Infrastructure Sourcing &
Partnerships
Walmart eCommerce
3. Really! Pull model is always
better than push model.
A consumer product like
iPhone is still widely used in
enterprise space
4. Why would you reject free
marketing?
Executives & Sourcing
professionals believe media
any day compared to the
best sales guy
5. Such a powerful point, but so
few ask
Once you find it, use it.
Mine is text messages.What
is yours?
6. It is surprising how many
people do not ask.
Most purchasing managers
will willingly share this info
Do you have your I’s dotted
and your T’s crossed?
7. Codebreaker is a partner or
reseller or distributor the
target company is dealing
with
Codebreaker already has a
relationship
Make sure they are not
selling your competitor’s
products
8. Totally ride on his or her
success!
As Issac Newton said, "If I
have seen further, it is by
standing on the shoulders of
giants."
Find a sales giant whose
shoulder you can stand on
9. Personal touch always has an
edge
Find something genuinely
impressive or good about the
decision maker
Then make sure you praise
them about those good
things when you get a
chance
10. Can you create a brand
image for your company
being the quickest?
So many people win new
deals by being the quickest
to respond
Be on top of your
communications
Hire an Executive Assistant
or Intern if you are
overwhelmed by the emails
11. Additional brownie points if you
can plot on the org chart your
supporters
Use the supporters to help sell to
non-supporters
12. Genuinely find good things
about the customers you talk
to
Lot of people treat decision
makers as people who stand
between then and their $1M
PO Not a good attitude
Take a Dale Carnegie course
to improve your LQ
13. Can you covet the title
‘Trusted Advisor’?
Sit with them, not across
them
Don’t get the title ‘Pushy’
14. If you are a small company,
try selling to smaller
companies first
Time and resources to sell to
big companies are huge
Long sales cycle (18-24
months)
15. Yes, it’s like dating!
50% might say yes, 50% might
say no
You might not be able to buy
lunch for some decision makers
as some companies have strict
gift policy. Others you will be
able to
Lot of executives and managers
get a pulse on the various
industries by talking to various
companies and sales people
Even if you don’t get a sale, you
get some tips
16. Any amount of convincing
will not move this mountain
There are always customers
with some business
problems. Go after them!
17. Do you have what it takes to stick
around for a while?
Fortune companies generally like
to buy from companies of their
size.
Be patient as you have a lot of
companies to sell to before you
reach to Fortune 100
Seed
Funding
Series A Series B Series C
Series DIPO$200M$500M
$1B $10B $50B $100B
$250B$500B
18. How quickly can you reach
the customer’s office if they
ask for a meeting?
Hire local presence
Decision makers love face-
to-face meetings
Decision makers hate con-
calls
20. There are known use cases and
unintended consequences; in lot
of cases,it is the unintended
consequences that sell the
product or service
In 1968 Hitachi magic wand was
launched as a back massager but
in recent times, it has found use
cases initially unintended
21. Possibilities are endless on
what you can do once you
are on the inside
Not all companies will allow
badge access to vendors, but
worth a try
22. Companies that spend less
time redlining the contracts
get a time advantage
Very relevant for startup
companies that does not
have full time legal staff
23. Warm handoffs as they say
Harder to ignore a meeting
request when intro is made
by someone you know and
trust
24. Treat them like how you
would treat the executive
They hold the strings
If they like you, they will
work for you
25. Don’t boil the ocean
Which sub-section of Fortune
100 would you sell to? -
Pharma, Internet, SaaS,
Telecom or Banks?
Would you rather ‘touch’ 100
prospects 3 times or ‘touch’
300 prospects once?
26. Find if the decision-maker has
liked your product or service
Sometimes decision makers
keep this information close to
their hearts
But a keen reader of people can
make out and devise strategies to
counter it
27. Models can evolve over time
Example: A company sold to
the 1st customer@
$250/license and to the 10th
customer @ $2500/license.
They used initial customers
as Guinea pigs
28. Catch executives when
gatekeeper is not there –
early morning or late
evening
Gatekeepers are better at
saying no than executives
29. Some companies just don’t
do business with startups
due to risk reasons
Check how many startup
companies your target
companies do business with
Some companies are open to
doing business with a startup
if they help with revenue
generation and not to keen if
they sell indirect
goods/services space
30. Psychologically, decision
makers like to deal with
people who they consider
equals
Can you talk to the decision
maker’s level at their level
about their problems not
putting them on a pedestal?
31. Do not reach out to people
who are no longer with the
company
Some even reach out to
people who are dead!
32. Research has proven that inmail
is a very effective tool in
reaching key decision makers
33. If you are sending
something(a package) to
decision makers, track it
Research says 70% of items
don’t leave the mail room of
big companies