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- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Steve Kaplan's book: "Bag the Elephant: How to Win and Keep Big Customers".
This complete summary of the ideas from Steve Kaplan's book "Bag the Elephant" shows the merits of acquiring and retaining big clients to grow your business. In fact, working with fewer big customers has many advantages over working with many small ones, ranging from being more cost effective, being more focused, being able to build lasting relationships and reduce advertising spend. These 'elephants’ of the business world are hard to acquire, and a successful contract is contingent on an effective game plan which must contain the following four elements: 1) Develop the right business mindset, 2) Have an appropriate sales strategy, 3) Leverage your big business clients and take full advantage of them, 4) Avoid the five killer mistakes which could mitigate your success. The summary is logically divided into the above key points, ending with the five mistakes which should be avoided all costs – from biting off more than you can chew, to keeping all your eggs in one basket.
Added-value of this summary:
• Save time
• Understand key concepts
• Increase your business knowledge
To learn more, read "Bag the Elephant" and discover a series of simple checklists and structured guidelines, that will help anyone who wishes to acquire and retain the best clients for their company.
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Seitenzahl: 42
Veröffentlichungsjahr: 2013
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Book PresentationBag The Elephant by Steve Kaplan
Summary of Bag The Elephant (Steve Kaplan)
Book PresentationBag The Elephant by Steve Kaplan
Book Abstract
MAIN IDEA
Getting and then retaining big clients – the figurative “elephants” of the business world – is a great way to grow your business. Landing a sizable contract with a large organization can dramatically increase your long-term profits, but it won’t happen by accident. Instead, you need a smart big-business game plan.
In practical terms, a workable and effective big-business game plan will have four elements:
Develop the right “big business” mind-set – know what you’re attempting to do and why it’s important before getting into action.Have an appropriate sales strategy – so you can approach this systematically.Leverage your big business clients – and take full advantage of everything they have to offer.Avoid the five killer mistakes – which always mean the end of your big-business successes.Overall, selling to large corporations is hard work but it’s feasible. You just have to orient yourself in the right direction, work intelligently and then avoid the problems that can arise. Fortunately, if you do this right, there will be no looking back.
“I’ve owned, managed, or consulted with more than 100 businesses – from runaway winners to outright dogs. One thing the winners have in common is they all remember the exact moment they knew they had made it big. In nearly every case, that moment came when they ‘bagged their first Elephant’ – won their first customer big enough to provide the cash flow and profits they had craved. Then, refreshed and replenished, they could finally realize their dreams, finesse their products and services, hire more people, and capture even bigger Elephants. Why do I call these giant companies ‘Elephants’? Because they are huge, slow-moving, ponderous, strong, slow to react, often loveable, sometimes stubborn – and because they require enormous amounts of input which, if you make it your job to supply, can bring you great financial rewards. Elephants are also smart, sometimes dangerous, uniquely individual and equipped with long memories – all reasons for being super-cautious and respectful when dealing with them.”
– Steve Kaplan
“To build a business, you have to do one of two things: either make a lot of small sales to more and more small buyers, or make a few big sales to a few big customers. In my experience, it’s better to sell to a few big customers. Why? Because you can do it quicker, with fewer staff, with less capital investment, less advertising – and it’s easier to develop meaningful relationships. Many business owners would rather have a very large number of customers because they feel it’s safer. This means the big-company path, the road to rapid, sustainable growth through the cultivation of a few big customers, is open to you – if you understand the principles, strategies and tactics and execute them better than your competitors.”
– Steve Kaplan
About the Author
STEVE KAPLAN is the founder and CEO of his own business consulting company, The Difference Maker Inc. He also served as CEO of Bounty SCA while it grew its revenues from $200,000 to $250 million in less than ten years. Mr. Kaplan is a graduate of Bradley University and Rosary Graduate School and has taught courses in marketing at Triton College.
The Web site for this book is at www.differencemaker.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Bag The Elephant (Steve Kaplan)
1. Develop the right big business mind-set
Know the benefits of selling to elephants
Selling to big businesses makes good sense for a business, whether it is a mom-and-pop operation or a multinational. The key benefits in doing this are:
You can grow your own business in sync with your big clients – because you’ll be able to ramp up your operational base in order to attract, keep and leverage those clients.You’ll even out your cash flow – because your revenues will be derived from long-term relationships rather than one-off retail transactions.You’ll have more options when it comes time to sell your business – because you’ll be able to sell it with a retained client base and guaranteed future business.As you serve more and more big clients, you’ll find you instill a big-business culture in your own organization – because you’ll acquire the strategic and tactical expertise you need to be able to serve those big customers well.Overall, there are some very compelling reasons why you should deliberately make an effort to sell to large corporations. It’s a smart way to grow your business.
Realize elephants need you as well
It might sound daunting to a small business owner but big corporations actually need the products and services you offer. This is true right across the spectrum of business activities. To cite some examples:
