6 Principles & 2 Myths
Successful business development relies on following key principles, and debunking popular myths…
principle #1:
understand your audience
Start at the beginning. What problem exists that only you can solve? What do people need? And what do they want? Learn this, and you’ll have won half the battle already,
principle #2:
define your identity
Once you have your why, you’ll need your what, how, when and where. Blending these first two principles together is the most important step (and where it goes wrong more often than not)
myth #1:
get immediate sales results
Generally, the success of your business development approach should be measured in months, if not quarterly. So whilst the moving parts can be added and deployed to your organisation quickly, you will have to wait a little while to see the results. Anyone promising anything else is reeling you in.
principle #3:
Map your universe
Current clients, lapsed clients, networks, friends, friends of friends – everyone is a potential source of business but you also can’t talk to everyone. Strategic targeting is a must for any campaign to run successfully
principle #4:
invest to succeed
In a similar way to expecting things to change immediately, expecting to grow your client base without investing into that growth is a waste of time. You don’t have to spend thousands of pounds a month to achieve this, but it shouldn’t be free either. Use trusted partners who will give you exactly what you need, when you need it. Which leads to…
Myth #2: pay only on results
The practice of paying commission on income or profit after a fixed period of time is still too common, and it rarely breeds a committed working relationship. I’m here to work closely with you and your team to improve and build sustainable and successful business development programmes. And that means we all get out what we put in (but it needn’t be expensive)
principle #5:
be pragmatic
An American General once said: “No battle was ever won according to plan, but no battle was ever won without one… Plans are useless, but planning is indispensable.” You’ll need a plan that lasts the year, with sensible review periods and the fearlessness to adapt and change on the go. At the end of the year, you’ll look back at how far you’ve come. (FYI it was Dwight D. Eisenhower…)
Principle #6: Be interesting
In the olden days (around 2005) hammering the phone lines was the main way to build your pipeline. Nowadays it’s pointless unless you already have some sort of awareness built. And to do that, you need a full channel strategy filled with engaging content. It’s about creating the demand first then the leads will follow.