How to Land a Consulting Contract with a Big Company

By MBO Partners | October 16, 2018

people talking at desk in office img

A contract with a large enterprise is a good way for independent professionals to start or expand their business. Large companies will often turn to the same vendors for services, providing you with an opportunity for steady work. Higher value contracts, name recognition, and the potential to acquire work from multiple departments are all reasons to consider adding a large enterprise to your client roster.

Many times, getting in front of large enterprises is a matter of networking—once you have a contact at the company, you can expand that relationship through referrals. If you are looking to land contracts with large enterprises, it is important to present yourself as a credible, professional business. Another great way to expose your business to large companies is to join an online consulting job marketplace like MBO’s marketplace.  More and more large companies are using job marketplaces to source skilled independent talent for project-based work.

Here are six tips to keep in mind when competing for work at larger companies.

1. Establish Your Business

At a minimum, ensure you register a Doing Business As (DBA) name, a process that lets your state or local government know the name you are operating your business under. Large enterprises want to see that you are a real business, and this is the first step to establishing that credibility.

2. Have Marketing Materials

As a business of one, marketing materials such as a professional website, business cards, and other collateral are essential. Even if you do not have a standalone website you should have a business presence on LinkedIn, as many organizations will go there to source contract talent.

3. Get Insurance

Many large organizations have requirements for insurance along with specific limits. At a minimum, you will likely need general liability insurance. A good insurance broker or service company like MBO Partners can help you obtain the correct business insurance coverage.

Landing a contract with a large enterprise isn’t typically the challenge for independent professionals; the challenge is meeting contractual requirements like insurance and payment terms. Here are a few important things you can expect to encounter when engaging with a large enterprise.

4. Make Sure You Have a Final Contract

At a large enterprise, you will likely have a key contact who wants to engage your services. This client may be the head of a department, region, or business unit, but they are typically not the person paying your bills at the end of the day. After you’ve finalized a deal, your client may have to run your contract through the organization’s bureaucracy. This may include review by senior executives, procurement, human resources, legal, and more.

It is important to approach this process properly. Don’t begin work until you have a final contract that has been approved by the organization’s process. Ask about this process during initial discovery meetings with your client, and, if possible, include additional approvers on pre-contractual discussions. It will be much easier to finalize a contract if you are a known entity.

5. Be Prepared for Longer Payment Terms

When contracting with large enterprises, be prepared for extended payment terms. Bigger companies typically have payment terms of 90 days, with some up to 120. A common challenge for independents is cash flow, so it is critical to realize that entering into a contract with a large company might mean not receiving payment for several months. The timeframe for the first payment may be even longer as accounting works to get you set up in the payment system.

Unlike working with smaller clients, you may not have much negotiating power to change payment terms. Before deciding to land a contract with a large enterprise, make sure you have a cushion that will enable you to wait for payments as well as operating capital to manage the ongoing timing of payments.

6. Define Your Deliverables

Lastly, don’t neglect to have a written scope of work. Your scope should include the services you will provide and specific deliverables the client will receive. Make sure your deliverables have a price and value. In larger companies, many departments may be reconciling payments made with what was received, so it is important to have a written, clearly defined scope of work.

Landing a contract with large enterprises can provide great opportunities to grow your business and skillset. The work you do may be more complex and challenging, and it can raise your visibility and open the door to more business opportunities.


Related Posts

consultant group

How a Healthy Pipeline Helps You Price Properly

As part of our educational programs on pricing, we bring you part two of a four-part series from Reuben Swartz, who spent over a decade helping companies from Fortune 500 giants to independent consultants improve profits through better pricing. Read part 1: Stop Commodifying Yourself, if you haven’t already. He also created Mimiran, the fun,…

Home podcaster

How to Create Content that Sells

Service marketing differs from product marketing in a number of ways. One is the absence, usually, of a tangible sample that a prospect can hold, inspect, or try out. Creating content to promote services is a great way to demonstrate your expertise as well as your personality and work style. Building a content library can…

Seasoned independent professional

5 Myths and Facts about Engaging Seasoned Independent Professionals

Though an increasing number of Millennials and Gen-Z members are going solo, Baby Boomers and Gen-Xers still make up nearly half of the independent workforce,  with 26% and 23% respectively. These professionals are demonstrating the value of their experience and perspectives to the companies that engage them. Seasoned independent professionals of all ages have retired,…




Learn more about the MBO Platform


Start, run, and grow

your independent business with MBO


Engage, scale, and optimize

your independent workforce