Part of the problem is that when things cost beyond a certain amount they need approval. With approval comes delays and red tape. You'll have to have some sort of pricing and buy-in strategy for you to be able to get the large company to buy your stuff if that's the case.
If you can manage that, then by all means, go kick ass.
But you're absolutely right - the sales cycle is very different. Not only do you have looong lead-times, but you also have to understand all the corporate bullshit, and weird decisions that get made based on the sometimes irrational behaviour of big corporations.
But if you do it right you can make big-corp pay for your development. If you sell it well some companies will give you the opportunity to sell them something you have yet to make, and that they full-well know will make your company very profitable. Nix the VC, go straight to the customer, and make them pay up front.
The other approach is to take on a narrow vertical and do a bangup job, Grow from there.
Who just can't afford/manage ERP but could use it? I think there are a bunch in this sphere.
However, all such products do require a systematic sales team/plan/process including inbound/outbound/inside sales kind of approaches to build revenue.
- ERP ssystems are impossible to understand for the people that work with them, and require an army of highly paid consultants just to get it up and running.
- financial software for large companies doesn't allow managers to see numbers in real-time, is difficult to get numbers in and out of, and hard to use.
- HR software for managing people, their interests, knowledge, track record, etc. in large companies.
These are just a few examples off the top of my head, I'm sure there are many more.
The advantage of B2B software is that you have a very good income model. A SAP ERP system for a company with 1000 employees runs into the millions. There are customers out there willing to pay you by the bucketload if you can make something that doesn't suck. And most of what is on the market today sucks badly.
This is an industry that has been resting on its laurels for many years, and is ready to be picked off by nimble competitors.