Everyone has dreamt of becoming his/ her own boss. And the way to do this is by putting up a business. However, only a few people have realized their plans and much fewer succeed at it. People say that businessmen, aside from having the money to start their own business, have a certain skill which few people are blessed with. They are risk-takers. Business development in some way is like gambling. An entrepreneur invests money, time and effort into a venture that has a fifty-fifty success to failure ratio. This is the very reason why a lot of dreamers do not pursue their business ambitions. Successful businessmen have mastered and formulated their own recipe for success but it all boils down to careful planning. Because they may be risk-takers but they are also careful planners.
One controller who knows the approaching plane’s situation inside out hands over the plane to another controller who knows nothing, except for some codified information. To avoid this, it’s vital to have a “First Contact to Signed Contract” system which where your prospects can go through your sales cycle without major humps and bumps. And this requires an integrated Christopher Nashed department as opposed to a separated sales, marketing department and client service silo which often work against each other.
In order to develop your business you have to get known, and, while it is not easy to get your web pages listed within the top 20 on Google (preferably the top 10), once you have achieved that then you have potentially the whole world standing on your doorstep knocking to get in.
Meeting Presentation Package – You are not going in to do a huge elaborate presentation; because you don’t know what they need yet. Remember, your job is to find out what they need. Rule for first meetings is 80% listening and 20% talking. You may also, at this time, introduce some additional information on your company.
Create a sales funnel. The sales process resembles a funnel. At the top end, the widest part, are the people who are just finding you, checking out their options, considering using your services or buying your product. If you can adapt your product or service to match the funnel, you can often pick up sales. For example, at the top, where the funnel is widest, you may want to offer an entry-level product or a special report at a reduced price. This may help you to capture some of those people who otherwise may not have gone past the looking point.
Prospect List – There are many places to acquire prospect lists. You usually have to purchase them but not always. Remember, you get what you pay for. Get lists from list brokers, associations, magazines, networking groups, Chamber of Commerce, and other companies with similar target groups to yours. You tend to pay more money for newer more accurate and more specific information.
Match your Goals to tasks. Look at your brain dump of the things in your business – the marketing strategies, the phone calls, the sales, the accounts – and match them up to your goals for the coming year. All those activities that will help you achieve your goals put a tick next to them. For the activities that do not help you, put a cross next to them.
Business development can be the lifeblood in many small agencies and what enables the firm to stay in business year after year. Is your ad agency working on business development or do you continue to struggle wondering when someone is going to arrive on your doorstep?