Here at yieldHUB, we have several dozen customers varying from small startups to multi-billion dollar corporations and in many countries. There are advantages to having such a variety and here are the main ones we are finding:
- Big customers like LG electronics and others give us, a relatively small, agile company, tons of credibility. Korean companies are notoriously quality focused, LGE is no different, and our product reflects that
- Smaller customers like Ambiq or Decawave are at the leading edge in niche areas and have needs that the larger companies may not have *yet*. We work with them on these needs and many of our larger customers benefit in the long run
- Smaller companies pay within a reasonable time frame, larger companies tend to pay much later, so cash flow is positively impacted by having a mix of smaller and larger customers
- Smaller customers are less paranoid about their data and so share reports with us where we can help give direct insights ourselves with first-hand data from them
- Engineers leave large customers for smaller ones and the word spreads about our offerings faster to smaller companies
- It’s less likely that smaller companies have an IT department and so they are happy to hand us all their IT requirements for which our cloud offering on AWS is ideal
- Large companies can have very experienced IT people. As the data generation can be terabytes per annum across hundreds of products, the on-site support after we train them is very useful to extend the local support load for our products
- Visiting and talking every day to customers in many countries (as well as having staff around the world) makes us a very outward-looking company
- Selling into so many countries and different types of company diversifies risk, including political, economic and currency risk.
On the latter note, a competitor with a good product offering went out of business because they had a huge client who dominated their revenue and pulled the plug. We have no such issue as no one customer has a large percentage of our revenue and we are adding customers regularly. Hence, the risk continues to be spread across more and more companies and geographies.
So for B2B companies like ourselves, we believe it’s ideal to sell internationally to companies of various sizes and not to be concentrating on just one or two large accounts in your home country.