Secrets on how to get US business contracts after the Global Entrepreneurship Summit (GES)

Now that the funfair is over and the reality of life is back, you might be wondering “How do I get those mega million contracts in the US after the GES?” Here are six keys that are critical to business success:

  • Follow ups are critical. Business contacts you met at the summit need to hear from you while the memory of the GES is still fresh in their minds. One smart way to do this is to create a brief 5 – 10 slide PowerPoint template highlighting the main elements of your business and 3 areas of collaboration between you and a potential angel investor or partner. You can also develop a YouTube PowerPoint video clip of between 3-5 minutes using screen saving programs like “Screen-o-matic”. Imbed these as clickable hyperlinks on one of the slides of your portfolio. Be sure to include your contact information including email, phone (What’s-app numbers are recommended since they are free), fax and relevant website link information.
  • Be persistent. In Swahili, the term is “Mvumilivu hula mbivu” (persistence pays). If you have not heard from a contact in 10 business days, a quick one line email reminder will be in order. Remember to make the follow up email using your original email so as to make flow up easier for the reader.
  • Negotiate on your terms. While you look for investors and/or partners, remember to negotiate on your terms. A business relationship with a foreign company is a partnership of equals, not a master / servant relationship. If the terms of a deal do not suit your short and long term goals, do not be afraid to walk away. The right partner will come along eventually.
  • Look to participate in trade shows in the US. Major cities like Los Angeles, New York, Chicago, San Francisco and Miami have regular trade shows where you can build on networks you have already created and advance the credibility of your company. Reach out to the US embassy in Nairobi for leads on the best options for your business.
  • Make sure you sign a contract for every deal. Ensure the terms of the contract are enforceable in both Kenya and in the US. Contracts are advisable because they ensure clarity on the part of both parties involved and ensure redress should the interests of any of the parties be violated. When you get that contract, the work has just begun.
  • Remember to deliver as per the terms of your contract. My experience doing business in Africa is that delivering on business contracts from the US is tougher than getting the contract itself! African entrepreneurs face a multitude of challenges including lack of access to credit, logistical problems, and lack of insurance for export of product and shipping delays on containers. Plan ahead and develop contingency strategies for potential problems. Communicate with your business partner immediately should you run into delivery issues. 

When all is said and done, stay positive and keep working on your dream. It sometimes takes longer than you hoped, but nothing beats a bottomless spirit of optimism. Onward and upward!