Entrepreneurs must shift tactics when chasing large contracts

Entrepreneurs reaching the growth stage of their funding journey must change how they win work, according to a Funded and Focused feature. Small customers often discover a business on their own. Large buyers rarely do. They must be persuaded that a firm exists and is the right fit.

Those bigger clients are not browsing Instagram for vendors. They draw from approved supplier lists, act on referrals and judge capability statements. Suppliers have to approach them directly and present themselves as credible partners.

Artificial intelligence can ease that process because different kinds of large buyers demand different volumes of documentation. The main obstacle is not rival firms. It is paperwork and how a business positions itself.

The segment divides the large-client market into four groups. Government — ministries, agencies and statutory bodies — is described as the biggest purchaser of goods and services in every economy.

Multilateral and development organisations, including the IDB, UNDP, World Bank, USAID and the EU, regularly hire local firms for consulting, training, logistics, construction, research and other services.

Large private-sector players such as banks, insurers, manufacturers, hotel groups and supermarket chains maintain vendor relationships and formal procurement units.

NGOs and foundations, both local and international, round out the list. They contract for project delivery, community programmes, training and professional services.