At IMPAX, the concept of “Business Fit” is central to our sales and account management processes. We define Business Fit as: 

Two companies, working together, to drive critical business outcomes for the customer. These outcomes typically result from attained objectives, implemented strategies, and resolved issues.

This definition of Business Fit is pretty straightforward, but another way to think about Business Fit is to think about what it is not. 

For example, business fit is not a list of commonalities between two companies. This misunderstanding is common, where someone believes that a list of shared values equals a business fit. It doesn’t; however, having common values and a desire to help each other strengthen those areas can be an element of business fit. 

Commonalities must be positioned effectively when presenting business fit. Saying, “We both believe in Environmental Stewardship,” is not compelling. Instead, we could present this shared value more effectively by saying something like, 

"Each of our companies believes strongly in Environmental Stewardship, and I feel that by working together, we can improve upon it. Our companies have both learned a lot over the years, and by sharing best practices and innovating together, we can each move closer to our own carbon emission reduction goals. As I understand it, you are looking to reduce your emissions by approximately 25% by 2030. Together, we can […]” 

Similarly, if you want to position your long-standing relationship as an element of your business fit, position it well. Instead of saying, 

“We’ve been working together a long time”, say something like, “We have been working together for nearly 10 years, and over that time have created a series of processes, relationships, and integrated systems that have created great efficiency. Together, we have driven gross margin improvements of X% […]”

The key point is this: if you are going to highlight commonalities, make sure to share why they are important to the customer. After all, the Business Fit is all about the impact on the customer’s business.