The next-hardest thing to building a business is growing a business. Capital is often hard to come by, and in times of increased supply costs and growing overheads, it can be harder than ever to grow organically. However, organic growth is still possible with a little helping hand.
That helping hand can come in the form of a business introducer. Business introducers are uniquely situated within industries to bring businesses and potential clients together, as well as to secure new funding opportunities. But how, exactly?
What is a Business Introducer?
A business introducer, in essence, is a third-party agent who specialises in forming connections between businesses. They will have access to a network within a specific industry, and offer introductions between businesses as part of a simple commission agreement. They are particularly useful for new businesses, and for businesses breaking out into a new industry or sector.
You might use a business introducer to help you gain access to crucial funding, in order to facilitate growth. Alternatively, a business introducer may be able to help you expand your industry network, and form meaningful partnerships that help you establish yourself properly.
The Benefits of Using a Business Introducer
As briefly touched upon earlier, using a business introducer can be hugely useful for emerging businesses, whether just starting out or attempting to break into a new market as part of their expansion. Business introducers can be used as a form of catalyst for discovering new clients, particularly large-scale clients that could form a significant portion of your month-to-month trade.
Business introducers are more commonly used as a method of obtaining private investment, enabling businesses to fund growth with seed capital. Introducers enable businesses to more directly appeal to potential investors, and foster a meaningful long-term relationship that may not otherwise develop.
In terms of logistical benefits, a sales introducer works on commission. In many cases, introducers operate with a no-win, no-fee policy, which enables you to seek out maximal relationships without the associated costs. Only in the event of a deal being brokered would the introducer take a commission, which makes reporting and profit calculations much easier for you.
The Stages of Introducing a New Client
An introducer will typically work in stages when it comes to introducing a business to a new client or investor. Firstly, they will draw up a shortlist of client and investor recommendations to the business in question, highlighting shared interests and direction. From here, you as a business can contact those potential leads directly, before negotiations begin. In the event of a successful deal being struck, the introducer receives a commission for facilitating the meeting.