Is Your Business Development Failing?

Some people may be upset by what they are about to see.  Keep in mind the you that I’m talking about is your business so please don’t take this personally…unless you see yourself here, if you can honestly see what’s not working you are more equipped to fix it and create a structure by which your business development soars.

Top 10 Reasons your business development is failing

  1. You hired the wrong person
  2. You didn’t train them properly
  3. You didn’t lay out expectations
  4. No one is managing them
  5. You have a Ready, Fire, Aim approach to marketing
  6. You don’t have the tools to manage business development
  7. Your marketing stinks (technical term)
  8. You don’t know why people really buy you
  9. There is no follow up
  10. It’s all about you and not the prospect – square peg round hole, anything to close the sale
  11. Bonus – your expectations are impossible to meet
  12. Bonus #2 your compensation is flawed

Chances are if your business development isn’t as successful as you’d like it’s probably because of one of these reasons but did you notice the common denominator?

A person who shouldn’t be doing business development in the first place gets put in a job with no tools, no training, no understanding of expectations has nothing else to do but fail – but you feel guilty right, because you like them and you want it to work.  Of course you do.  The people who interview for this role love to talk to people but it doesn’t mean they are good at developing business.  You had an amazing interview, the conversation just flowed and you had fun learning about them and telling them about all the amazing things you’ve done with your company – again it was just a conversation.

Good conversation doesn’t equate to a good interview – it’s important absolutely but what’s most important in business development is developing and moving a pipeline forward and results and that is tough to determine in one interview.  If over time results have not improved and you have failed to address it, there still is time.  Not all is lost, it’s possible this person could improve if given the proper motivation, direction, tools, etc. but how do you know?

This isn’t something we advertise but we can certainly help, with a short assessment and better understanding of how you handle business development we can see the gaps and can give you easy and quick solutions to addressing those gaps in most cases.  In other cases, it’s simply the wrong person and you have a decision to make.  After 20+ years of business development we’ve pretty much seen everything and here are some of my all-time favorites:

  • Firing your top salesperson because your SVP of Sales feels threatened
  • Keeping your worst sales person because he’s puckered up (you get the image, right?)
  • Expecting your business development team to be able to sell a product that can’t lawfully be sold in the state
  • Trying to force a square peg into a round hole then being upset when the client fires you a few months later
  • Your BD person selling whatever they can then leaving it up to your customer service team to figure out how to deliver the services when they don’t currently offer some of the services
  • Purchasing an extremely expensive CRM that no one uses
  • Trying to be all things to all people
  • Failing to close a slam dunk deal because you never followed up

Now I’m going to assume you don’t do these things but if you did, it would be obvious that help is needed.  What we typically see is the company saying I am struggling to get business development right but I don’t know what I’m doing wrong.  This happens in all size companies – sadly some of the situations above came from publicly traded, national companies who should know, right?  It’s just that business development is changing, it’s not about cold calling, it’s about being viewed as a resource, being the go-to for everything, creating that relationship – then you are viewed as a partner and not a vendor.

We’ve been asked to help with these types of scenarios many times and we welcome your call if you have concerns whether you have a business development team in place or looking to create one.  You don’t need to be local, as long as we can gain access to the documents, systems, people we need the analysis can be done.  For us this work is second nature so it typically isn’t too cumbersome.  Our typical fee ranges from $2000-5000 depending on the size of the business and how many BD/management staff we need to address.  Small changes can mean a drastic increase in revenue to an organization.   Email Karin at kschwartz@springboardbizdev.com if you have questions.

FAQ’s What if I need help with strategy?

Answering your questions, have one – email me directly at kschwartz@springboardbizdev.com

Do you help with strategy?

Yes, I can’t tell you how many times I’ve been called in to simply strategize.  Essentially these are companies who have sales staff who are looking for new, fresh ideas to move sales forward.  I love this part of our work and I do it personally.  There is nothing I enjoy more than figuring out the puzzle piece.  I can see opportunity where you can’t, I can help you get there without doing it for you.  This works exceptionally well with sole proprietors or small sales teams.  We focus on overall strategy, target markets, how and where to find decision makers, what influences them, your unique capabilities, why people buy from you, your process, your presentation, your competition, your strategic partner, etc.  Most importantly we focus on what’s holding you back.  I’m not a coach by any means but I do know sales and I find with most business owners sales is an afterthought .  If you need a business coach I know great ones and will be happy to make a referral.

The initial month of sales strategy and consulting is a full scale evaluation of the entire sales process and it’s a minimum of $2500, each following month is a minimum of $1000.  If you think this is a better fit call the office and ask for Karin at 410-832-7560

FAQ’s Do you do SALES TRAINING?

Answering your Questions, have one – email me directly at kschwartz@springboardbizdev.com

Are you a Sales Training Organization?

No, we don’t do training.  In fact, I may piss off a few people by saying this but I believe for the most part the tactics taught in sales training organizations don’t work today.  I do believe they have a purpose – mostly for commodity or high volume sales organizations.  I can see a value there.  However when you are selling a service based on building and maintaining strong relationships tactics are the fastest way to lose business.  We’ve all been through these programs and we can spot the strategies from a mile away.  Do you know how bad I screw with someone who is “mirroring” me?  I spend the entire time focused on my next move and I don’t even hear what they are saying.

Your sales cycle is a fallacy.  You need to know where your buyer is in the process and ensure they have the right information necessary to move forward but you can’t make them move forward you can only encourage.  If you’re looking for a “trainer” I know a number who are excellent at what they do, they get results and they focus on the buyer, your internal processes, your people and not tactics.  I’d be happy to make an intro.

FAQ’s Team Poaching

Answering your questions – have one, email me directly at kschwartz@springboardbizdev.com

Can I HIRE your consultant on a full time basis?

Typically the answer is no.  Our consultants are not out of work in house business developers passing time until a full time gig shows up – they chose the consulting world many years ago.  For some it’s been over 30 years and for most it’s closer to 5-10 years they’ve been on their own.  We aren’t good employees because we won’t allow you to manage us.  Part of what makes us successful as consultants is the ability to challenge your beliefs of how things are done.  We’ve had to evolve as business has changed and we continue to evolve as we deal with more unique challenges like sequestration and global competition.  Consider us a resource and a partner but not a recruiting firm.

FAQ’s Can you terminate me?

Answering your questions.  Have one – email me directly at kschwartz@springboardbizdev.com

 

Everyone always asks how they can get out of the contract if they need to but they forget to ask if we can terminate the contract and yes, turnabout is fair play.

Can I be terminated?

You sure can and unfortunately we’ve had to terminate clients in the past.  Our new Client Acceptance Protocol will hopefully eliminate the need to do this in the future however we have terminated several clients over the past few years.  Typically the reason we terminate is the behavior is detrimental to our ability to represent you properly and it runs the risk of damaging valuable relationships.  We have had to terminate for non-payment or excessive late payments but also insulting a decision maker, getting angry at a prospect in a meeting, lying to us, inappropriate behavior in meetings with decision makers.  You wouldn’t believe the stories if I told you.  Some things can be addressed and fixed but we’ve found that at this point behavior is pretty much set in stone and if we can’t trust your behavior in a meeting it’s best to terminate the relationship immediately.  We can’t in good conscious take your money if we can’t do a proper job for you.