Bag the Elephant!

About the Author

Steve Kaplan, a distinguished entrepreneur and seasoned business strategist, has carved out a niche for himself in the world of business growth and development. He is the founder of The Difference Maker Inc., an organization dedicated to equipping businesses with the necessary tools to achieve success. Kaplan's experience spans several high-profile roles, including serving as CEO of Bounty SCA, which operates 24 offices globally, and as group president of Snyder Communications. His deep understanding of business dynamics, particularly in scaling operations and managing large client relationships, forms the foundation of his book "Bag the Elephant!"

Main Idea

"Bag the Elephant! How to Win and Keep Big Customers" is a practical guide for small and medium-sized businesses aiming to secure and maintain lucrative contracts with large companies, metaphorically referred to as "Elephants." Kaplan's central thesis revolves around the notion that small businesses can provide unique, valuable services to these large entities, which are often slow-moving and in need of specialized support. By adopting the right mindset and strategies, smaller businesses can effectively penetrate these large organizations, create significant value, and sustain long-term, profitable relationships.

Table of Contents

• The Elephants Need You
• Six Keys to Thinking Like an Elephant
• What to Know About Elephants
• Embracing the Bureaucracy
• Drawing Up Your Hit List
• Knocking on Doors
• Matching the Prospector to the Prospect
• Face to Face with Your Prospect
• Standing Up to Your Elephant in Negotiations
• Recruiting Great Champions
• Putting Your Elephant to Work

The Elephants Need You

Kaplan begins with a reassuring message: large companies, or "Elephants," require the unique offerings that smaller businesses can provide. Despite their size and resources, these large organizations often lack the agility and specialized focus of smaller firms. This creates opportunities for businesses willing to position themselves as indispensable partners. Kaplan asserts that understanding this dynamic is crucial: "The Elephant needs you almost as much as you need the Elephant."

"The truth is, the Elephant needs you almost as much as you need the Elephant. As you'll see, after you've been together awhile... the Elephant may end up needing you more than you need the Elephant." - Steve Kaplan

To illustrate this, Kaplan shares the story of Paula Westman, who transformed her small CPA firm by securing a contract with a large company. Initially focused on individual tax returns, Westman identified a niche service—providing tax planning for senior management as an employee benefit. This strategic shift enabled her to secure a large corporate client, dramatically increasing her firm's scope and profitability. Her journey underscores Kaplan's point: by understanding and fulfilling specific needs, small businesses can become essential to large corporations.

Six Keys to Thinking Like an Elephant

To effectively engage with large companies, Kaplan outlines six essential principles that help businesses align their strategies and mindset with those of their potential big clients.

One and Done

This principle emphasizes the critical importance of making a strong first impression. In dealings with large companies, businesses often get just one chance to prove their worth. Kaplan advises that every interaction, from initial contact to service delivery, must be meticulously planned and executed to perfection. "You have one shot, and if you blow it, it's over," he warns, highlighting the unforgiving nature of first impressions in the corporate world.

Priority One

Kaplan stresses that large clients need to feel prioritized and valued. He recommends businesses to "make that big company feel looked after and cherished," which involves responding promptly to inquiries, resolving issues quickly, and demonstrating a high level of attention and care. This approach not only fosters trust but also encourages long-term loyalty from the client.