Do you love me?
Wouldn’t it be so cool and easy if that’s all that was required to woo, win and wow new business? Simply ask do you love me and then, well, that would be it. They’d say yes and you’d be on your way. Or no and maybe you’d try to figure out why or maybe you wouldn’t and just be on your way.
In any case, business development, easy it is not.
In fact, it’s darn difficult and yet there is no way around it – business development is an integral part of all business and whether you do it yourself or have an entire staff to execute the biz d efforts make no mistake about it, it must be done.
Effective business development is highly strategic and must be approached that way. Done in a haphazard manner and you will get absolutely no return on your time and investment.
My recommendation – do the following and you will be in a much better position generate new business opportunities:
- Do a SWOT analysis of your business so that you are cognizant of exactly what you bring to the table and how you might fare in the face of the competition.
- Direct your efforts to the correct prospect market. No one can service everyone.
- Test your marketing and don’t roll-out until you know what works…and what doesn’t.
- Measure everything that you do every step of the way.
- Be prepared to re-engineer what you have done.
- Bring in external resources if you don’t have the required competencies in-house.
- Don’t give up. Business development takes time but be certain that you are planting the (right) seeds.
Remember that business development is an ONGOING effort. It can’t stop even when you have lots of business coming in the door. You are investing in your future and when you cease your efforts you can anticipate a sales slowdown sometime in the future.imply taking too much time and rendering you or your staff incapable of accomplishing their work and still attending to other clients.