• Charleene Mundine

Connecting the Dots on Business Development

Over the past few years, we’ve had hundreds of individual conversations with our clients and Aboriginal and Torres Strait Islander businesses about business development.

You’re not the only one who struggles with it!

Most businesses find sales or business development one of the toughest things they face.

How do we get more customers?

How do I know where to look for business?

Who should I be targeting?

How come we don’t get approached for opportunities?

In this article we’d like to share three key tips on improving your business development.

Tip 1 - Connect the Dots.

You have to have a real and tangible connection with your customers and prospective customers. That connection comes from taking the time to understand the needs and wants of your ideal customer. But there is a step before this that is often missed by companies in their marketing and sales activities.

There are loads of different types of customers for businesses - the trick is to find out who is going to be the best type of client for you.

Part of the answer comes from your capabilities and capacity to service your clients but you also have to connect the dots of these capabilities to the needs and wants of the prospective client.

Take a gymnasium for example. They could target young people wanting to build muscles, they could target women who want to just be a little fitter, or they could target older people needing to improve muscle tone after an injury.

All of these clients could be targeted, but perhaps only one will have the right mix of needs to match your capabilities as a business.

To find these things out you need to survey the needs and wants of a variety of clients and then pick the type of client who will get the most value out of your business. The highest value will ensure you can generate a higher revenue from each client because they inherently value what you offer.

Don’t make the mistake of thinking you can service everyone - you need to niche your target audiences.

Tip 2 - You Have to Be Out There

There is a useful old saying - she who whispers down a well about the goods she has to sell will never make as many dollars as she who climbs a tree and hollers.

What this means is you can’t rely on people just finding out about you. You need to be out there in the right marketing channels to reach the audience you want to target. How do you find out what marketing channels to use? You survey! In this case you need to ask questions like ‘how do you research finding companies like ours?’ or ‘how do you go about deciding which supplier to use in a service like ours’

Tip 3 - How Do I Win More Business?

The secret to winning more business is being more attuned to the needs and wants of your customers and directly reflecting these needs and wants in your submission or tender.

Don’t make it about you. Make it about them and how you can help them reach their needs and wants.

Too many sales people are product floggers when in fact you have to be about the Prize - how choosing you can help that particular client achieve whatever goal they are trying to get to by purchasing that product or service.

The more you make it about your client, the more chance you have of winning.

So listen carefully when they tell you what they want, and ensure your response includes reference to that.

That’s it for this article. We trust you found it useful.

At the moment we’re running a business issues survey and would appreciate your feedback. One lucky person will win a personal business mentoring session valued at $450 and everyone who answers gets a free online business course valued at $125.

Click Here to Participate

#DLCM #BusinessDevelopment #Strategy #AboriginalBusinesses #IPP #QIPP #APIC #SocialProcurement

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