Last month I offered five characteristics of growth entrepreneurs, and speculated on what they may mean to marketers. If you haven't read that post, scroll down two posts or click here before reading on.
Growth companies are a huge potential market, fiercely loyal and ready to buy. To help you tap this growing market, here are five more attributes of successful entrepreneurs and growth firms - with a few clues about how you can use that information to sell to them.
6) An abiding personal interest in their products or industry helps most growth entrepreneurs persevere and succeed. Tip: Sell with passion. Entrepreneurs expect you to be as excited about your product as they are about theirs.
7) Growth firms pour most of their profits back into the business. However successful these businesses are, many remain cash-poor for years. Tip: When they question your price they're not being "cheap" - they have legitimate cash-flow concerns. To make the sale, acknowledge those concerns and address this need.
8) Growth firms think and operate globally. For them, borders are opportunities, not obstacles. Result: They need solutions that will work around the world.
9) These firms are keen to keep growing. That means their needs are always changing. And it means your products and services must be able to serve these customers all along their growth path.
10) These companies are on missions. Many of today’s top growth entrepreneurs truly believe their products and services can make the world a better place. Tip: To connect with these entrepreneurs, your business brand should stand for something, too.
If you want to add to this list, or if you have questions about any of these characteristics, please leave a comment below. Or e-mail me at rick(at)rickspence.ca