Resource Guide
Get on the list
An overwhelming majority of women’s business enterprises credit their corporate success to a relationship with a key corporate decision-maker – but for many who are new to the scene, starting at the top may seem beyond their reach. This is why it is important to note that a large percentage of women’s business enterprises also found their relationships with purchasing agents and supplier diversity personnel to be key. The second strategy points to the importance of knowing where purchasing professionals search for new suppliers: they go to networking events, sponsor their own matchmaker events, and search their databases.
Go to the party It may come as a surprise to learn that purchasing professionals are out and about, actively “working the room” in order to meet women’s business enterprises. In fact, they are more likely to attend networking events than are women vendors. While only about half of the women surveyed are members of a women’s business organization, three-quarters of the corporations surveyed have joined the same kinds of organizations.
While relationships are key to success, they are also limited. How many people can you realistically meet and greet? Because of this, it is imperative to understand how heavily buyers rely on internal databases, as well as lists from third-party certification organizations.
Put yourself in the shoes of a supply chain manager or other purchasing professional. Faced with the changing demands of customers and the complexities inherent in any project, you would most likely look for the speediest, most efficient way to find potential suppliers. Many buyers do this by sitting at their computer and pulling up lists of suppliers to consider. When your name is on the list, you increase the potential of establishing contact with them.
Meet Your Corporate Match In addition to trade shows and conferences, “matchmaking” events are an excellent way to connect with corporate purchasing executives. These events allow buyers and vendors to pre-schedule meetings about projects and needs. Here’s how matchmaking events work.
Small business owners and buyers complete online profiles before the events. These profiles are designed to provide information on what each has to offer. Based on the profiles, matches are created and appointments are set. Business owners and corporate representatives use the appointments to discuss potential opportunities.
When corporations participate in matchmaking events, they typically delineate specific types of businesses and/or criteria they are looking for. They may also say they want businesses with a minimum of revenue (i.e., $5 million in annual sales).
Many corporations host their own matchmaking events, though some partner with other corporations. You can find out about these events by visiting corporate web sites. The Women’s Business Enterprise National Council also provides information about upcoming matchmaking events to certified women’s business enterprises.
Citation
Center for Women’s Business Research. “Get on the list.” Washington, DC.