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Surviving Success

For a small business, landing the Big Deal is an occasion for caution.

CHECK OUT THE CLIENT
Run a TRW or Dun & Bradstreet on the prospective client. Talk to other vendors. Do they pay on time? Any lawsuits against them?

THINK STRATEGICALLY
Do you want this level or kind of growth? Does the deal fit with your business?

STAY COOL Don't be so eager to hook the client that you sell yourself short on time or profits.

EXPECT THE WORST
Leave a financial cushion in case the client pays late, dumps you, or goes bankrupt. Act as if a big contract could vanish at any moment.

KEEP OLD FRIENDS
Don't neglect your other customers or stop looking for new ones. You may need them.

GET THE CLIENT'S HELP
Ask your customer to chip in with money, technical or other support.



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Updated June 15, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.
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