The Biggest Business Development Mistakes

 

If your business relies heavily on sales, then you know just how important it is to have a strong business development strategy. Still, even the best businesses fall victim to the same old mistakes!

  1. Assuming you know EVERYTHING there is to Know: Becoming proficient in the business development arena takes practice. Not just anyone can be successful…it takes serious work!
  2. Selling to the Wrong Person: Make sure you are talking to a decision maker. Don’t waste your time selling to someone who can’t even make the decision to buy your product or service!
  3. Failing to Make Multiple Contacts: What happens if you spend a ton of time developing a business relationship with a prospect only to have that prospect fired? Well, if you failed to make multiple contacts, you are screwed!
  4. Not Enough Prospects: Prospects are your lifeline. Without a healthy number of prospects in your sales funnel, your business has no chance of thriving!
  5. Waiting for Referrals: Referrals are great and a lot of the time, they drive your business. But you cannot rely on your clients to just hand over referrals. Get you’re a$$ out there and find business. Don’t be afraid to ask for referrals from happy clients. What’s the worst that could happen? They say no.
  6. Not Bringing More to the Table: What do you have to offer your prospects? If you are having trouble answering this question, then you are probably in the wrong business! And we are not just talking about your product or service. The prospect already knows about that. But what’s something you can do to help your prospect in their business? What can you offer the prospect that no one else can?
  7. Assuming you know what the Client Needs: You don’t know what the client needs. Only the client knows what he/she needs. So stop talking and start listening.
  8. Fear of Closing: Don’t let a prospect pull you in every direction. You are in the business of making money. So make the sale or cut your losses. You cannot waste your valuable time on a lost cause. That is just a poor business strategy.
  9. Trying to do everything In House: With salary ranges of $120-175k plus benefits, taxes, and expense reimbursements, companies are wisely moving away from in-house business developers and beginning to turn to outsourced business development firms, like Springboard, to ask, “How can we do this at less cost while hitting all the key areas?”
  10. Trusting Someone other than Springboard! If we didn’t think we were the best and if we didn’t know we could help you grow your business, we wouldn’t be doing what we do! So start putting your trust in Springboard Business Development!

If you have any questions about Springboard Business Development, please contact Springboard Business Development by calling 410-832-7560 or click here today!

Located in Baltimore, Maryland, Springboard offers outsourced sales solutions for businesses in the professional services arena. Our approach to business development makes it easy to find new clients without the financial burden of an in-house business developer.

At Springboard we know sales!

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Leadership Development Tips for 2012

What is your New Year’s Resolution? Maybe you want to lose weight, travel more, or stop smoking. Or maybe you want to become a more efficient leader. After all, business development begins with you, the business owner. To grow as a business you must first grow as a leader.

There are lots of things you can do to better yourself as a business leader, but we don’t have enough time to explain them all so we have outlined our top suggestions.

Don’t Neglect the Present to Plan for the Future: Yes, the ultimate goal is to grow your business. But you cannot be so focused on future growth that you neglect the here and now. If you re-direct your focus on current business transactions and work to perfect what your business already does well, the rest will fall into place.

Listening: Listen to what your employees and clients are saying. After all, happy clients provide referrals, which brings in more business and makes you more money. This will make you a happy business owner. And happy employees will work harder and more efficiently, which brings in more business and makes you more money. This will also make you a happy business owner.

So stop talking at people and start listening to what they have to say.

Unlearning: Forget what you think you know about business…it is ever evolving. So stop relying on outdated methods and ineffective techniques. If you want your business to grow and prosper, you must first be willing to change your way of thinking. Just because something worked in the past does not mean it will continue working. Always be on the lookout for new sales techniques and more effective business practices.

Focus on What You do Best & Outsource the Rest: As a business owner, you are pulled in several different directions at once. You are forced to divide your attention between marketing, sales, business growth, customer service, and much more. And there is simply not enough time in the day to give each area of your business the time it deserves. As a result, your business suffers.

You cannot afford to do anything halfheartedly in the corporate world. So what is the solution? What is the best use of your time? Well, unfortunately there is no one answer. Every sector of your business is equally as important as the next.

However, one of the best ways to lessen your business burden is to outsource your sales to a professional business development firm, like Springboard!

Springboard offers outsourced sales solutions for businesses in the professional services arena. It’s simple, while you focus on delivery, we bring our sales expertise and connections to focus on your business development challenges.

If you have any questions, contact Springboard Business Development by calling 410-832-7560 or click here today!

Our approach to business development makes it easy to find new clients without the concerns of sales team turn-over, lack of sales expertise and payroll.

Follow us on Facebook and Twitter as well!

Sources:

5 Leadership Tips for 2012