You’re probably wondering what is the 10 percent rule and what does it have to do with growing your businesses. Sadly, only 10 percent of the small businesses that meet with government agency and large business representatives at small business conferences will ever follow-up on that conversation.

I can pretty much guarantee that the folks who get the business are the ones who follow up.  I know that all small businesses are not a match for every agency and large business but I believe the follow-up is the key.

Government agency and large business representatives talk with hundreds of potential business partners at conferences, like the 6^th Annual National Veteran Small Business Conference held in Las Vegas in July, and can’t be expected to remember and reach out to each and every one. The burden is on the small business to follow up.

It’s crucial for you to gather up all the business cards and information you collect at conferences, and any other networking opportunities, and prioritize the potential opportunities. In addition, you’ll need to conduct additional research on each and every of these companies’ needs by reviewing forecasts, web sites, news articles, etc.  

Reach out and thank the folks you met for taking time to talk with you at the conference and sharing information about their needs.  Remind them of your capabilities and interest in doing business. Describe how your business matches with their needs and ask for a follow up visit or phone call to discuss in depth what you offer and how it will help them become more efficient and effective. Always provide a link to your website so, if so inclined, they have the opportunity to research your company as well.

Remember, these companies don’t owe you anything simply because you’re a veteran. They need to buy from veteran-owned business, but they still only award contracts to the businesses that provide the best fit for their needs. Put simply, you need to provide a solution to their problems. These conferences simply provide a way for contracting professionals and small businesses to meet and discuss opportunities.

Make sure you’re one of the 10 percent who actually follow up and maximize your chances for new business by following up with solutions. The old adage of “the early bird gets the worm” applies in business as well. Except here it’s called FOLLOW UP, FOLLOW UP, FOLLOW UP!!

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