One of the most exciting things to happen to a small business is to get the big contract from the big company. There are a lot reasons to be excited – reliable and steady orders, a big boost to your cash flow, a great credit customer, and bankable receivables.
Unfortunately, there are a number of risks that come with the big contract. Risks you need to be aware of and prepare for – large companies move slowly, purchases are cyclical, a big dollar volume to the small business is small to the large one, and demanded volume and delivery times can be unrealistic.
StartupJournal has a great article on this topic and offers some sage advice on how to prepare for the big win. Here's one of my favorite pieces of advice…establish a stream of small pieces of business before going after the big pay day. "You need to have a lot in the pipeline. You need to make sure that every 60 to 90 days, something is being paid.
The bottom-line is you shouldn't fear going after the big deals, you just need to be careful in how you service them.