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Is A Key -- Intentional Quality -- Missing --- From Your “Business Development Strategy”…?

January 10, 2018

By Sid Chadwick

“A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.”……………….John C.  Maxwell

INTRODUCTION:

A recent article, published by a relatively large association, and written by our own Bob Lindgren, was well written, logical, instructive….and missing critical elements of “strategy” that --- in my opinion --- impact profitability --- and which most organizations in our great industry --- also --- omit.

In Bob’s well-written and instructive article, there was --- “No Business Development Strategy” --- for generating higher margins, and more predictable revenue growth --- which is available --- to almost every organization.

A few questions  --- most Customer Surveys should answer:

  • What are the “profile qualities” --- and “names” ---of customers who allow you the largest margins and most value-added dollars --- when producing their work…?  If you “Researched” the names of companies within your servicing area, who  “fit” that description, who are they, and which ones do you not currently serve…or even pursue…..?
  • What are the “profile qualities” --- and “names” --- of customers who value your organization --- the most….?  If you followed-up by “Researching” the names of companies within your servicing area --- who  “fit” that description, who are they, and which ones do you not currently serve…or even pursue…..?
  • What are the “profile qualities” --- and “names” --- of customers whose use of print --- and related services --- are growing?  If you “Researched” the names of companies within your servicing area, who  “fit” that description, who are they, and which ones do you not currently serve…or even pursue…..?

As supportive issues to address at another time, hiring and training practices, pay, self-promotion, equipment, and targeting for future business development --- should also be a part of your “Business Development Strategy”.

SUMMARY:

Money CostWe recently responded to a long-term client’s request for a Customer Survey Proposal. His company should generate about $10 million in revenues this year.

I know the owner well, and I cherish him and his company….During discussions, I guaranteed him --- over $1,000,000 in new business opportunities --- from current customers --- through the Customer Survey we’ll develop, and administer.

We expect to launch his Customer Survey between early February, and early March……our processes are specific….time tested….and relatively - Confidential.

As a sidebar, he expects his high-performance executive son to join his company --- as part of their succession plan --- by the third quarter, 2018. (His son is a “Top 1% Pharmaceutical Sales Executive”.)

Speaking candidly, we are honored to serve --- their more prosperous future.

“You ain’t gonna learn what you don’t wanna know”………Jerry Garcia

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