The right enterprise client will signal to the market that you have a valid product/service and that you are to be trusted. Enterprise procurement teams (even only for a POC or Pilot Project) will do their due diligence and risk assessment that will have any start up grow up fast. On the other hand these sales cycles are usually very long and elaborate and will require focus and sometimes adjustments of your product roadmap.
I help companies analyze their enterprise readiness by walking them through how a procurement process works, how the stakeholders think and what roadblocks there are. I also ensure we make a good market research so we know what we are getting ourselves into. And we talk post-close, how to deliver on expectations and what that entails from your organization.
I also believe that a broader understanding on what the buyer side deals with is fundamental if you want to break through. The perfect pitch and demo will only take you so far, at a certain point (no matter how much AI processes have been involved ) a human will make a decision. People buy from people.
Your competition is broader than you think
You're not just competing with similar solutions – you're competing with anything that solves the same problem. You don't need to be best in class you need to solve the most important problems in a way that makes the most sense.
Enterprise retail prioritization is brutal
Retailers have limited resources and must prioritize their investments carefully. And a part from what you do, the enterprise organization covers a multitude of areas: supply chain, logistics, finance & HR, design and store, marketing and sales - and the list goes on. If your business case cannot compete with other areas that needs improvement, the executive decision makers will most likely not have your product prioritized, even if it is the best in class in your segment,
Biggest hurdle: Risk aversion
Decision-makers in retail procurement take personal career risks when choosing a new tech vendor. The easiest decision is always to say "no" or postpone to the next quarter. Learning how to identify what ICP has the right approach to risk and to challenge status quo is crucial. So is mapping all stakeholders, who is your advocate and who is gatekeeping or only focusing on risk?