No matter where you currently are in your business one of the most difficult things that any business owner can do is sell. Business development is not easy, because you are trying to bring your business to the forefront of everybody’s minds, expand your offering and extend your reach.
There are many companies out there that now rely on business development representatives to help them to engage pre-qualified leads. Companies such as Linked Hacker also are able to help. The sales teams then only have to follow up on the sales ready leads and business development becomes far easier than you expect. So, how can you do this? Here are some of the top business development tips that you didn’t know you needed.
- Choose the correct strategy. You need to have the right business development strategy in place for the one that you choose will depend on the type of growth that you are hoping for. Understanding the challenge that your business needs to overcome will help your hair. The full primary strategies that you need are sales development, strategic partnerships, product development and market entry. No matter what, research is your friend.
- Build your processes. You may have heard that some business development executives enjoy cold calling – but most businesses don’t like to receive cold calls. Warm leads are going to help you here. Your revenue operations will be responsible for developing the business development process, as this is going to help you to drive success. Once this process has been solidified, everybody needs to know what to do to support that structure. This is how you build something solid that won’t fold.
- Get to know your target market. If you want to win at business development then you cannot go in blind. We talked about research being your friend, and it really is. You need to understand your market, your audience and the product that you are hoping to offer. You should always be aware though, that you will never fully know your target. People and their needs will continually change and you have to be able to keep up with this which is why business development can be so difficult in the first place.
- Refine your skills. Not everybody who goes into this area is an expert. It takes time to learn. It’s easy to get distracted and feel lost when you’re trying to develop something and it’s very difficult to also find your confidence to do it. Improving your communication skills will help, as well as practicing persistence. Only a small percentage of your cold calls and cold emails will generate sales ready leads, you need to look at ways you can generate these days without having to constantly cold call and feel like you’re bothering people.
- Take your time. Business development doesn’t happen overnight and you need to give yourself some space and some grace to get it right. The more time you give yourself, the easier it will be to see your business grow.