Wednesday, June 26, 2013

Business Development steps


There is an old saying “If you don’t know where you are going, any road will take you there.” The following 11 step process is a road map for identifying, tracking and landing new business. Unfortunately I can’t do justice to the process in one article but I hopefully will provide you with a good overview. In my seminars and workshops I have found this process helpful to many small business owners. Seeing the big picture of new business development, recognizing areas of missed opportunities and assisting in the elimination of that overwhelming feeling can move an entrepreneur to utilize the many marketing tools available to increase their business.
Warning: Do not expect to do this all yourself. Consider a family member or friend to help. An administrative assistant is a worthwhile investment, if you can afford it. Make sure they want to do the job and they understand your business.

1. Goal Setting – Pick a dollar figure you wish to attain for the year. Make it realistic. A desired salary is a good starting point. A financial goal is needed to help work out how much business must be conducted.
2. Prospect List – There are many places to acquire prospect lists. You usually have to purchase them but not always. Remember, you get what you pay for. Get lists from list brokers, associations, magazines, networking groups, Chamber of Commerce, and other companies with similar target groups to yours. You tend to pay more money for newer more accurate and more specific information.
3. Qualifying Prospect Call – No matter where you get a list or prospect name you must do 2 things. Check the accuracy of the information and make sure this contact is in fact the real prospect. Do Not Try To Sell Over The Phone at this stage.
4. Database – Take the prospect information out of the shoebox and put the information onto a database. There are many inexpensive contact management software packages available. They will make your prospecting 10 times more efficient and effective.
5. Lead Generation Package – No cold calls. Before you make a contact with a prospect send out a lead generation package. This could be a post card or letter or simple flyer. Printed and mailed is better than faxing. All you want to do is whet their appetite. Tell them a little about your product or service. Who you are, what you do, why you are different.
6. Lead Generation Follow-up Call – Make sure they have seen your lead generation piece. Determine if they can use your product or service. Do Not Try To Sell Over The Phone at this stage. Set a meeting; put a face to a name for your benefit and for theirs. (If your product or service lends itself to telephone sales and it is not cost effective to meet in person, go ahead with the sell.)
7. (A) Interested or Immediate Need – This means you will need to have a first meeting/presentation.
(B) No Need – Track them with follow-up calls, newsletters etc. If they have no need now, they may need you in the future or this contact may move on and be replaced.
8. Meeting Presentation Package – You are not going in to do a huge elaborate presentation; because you don’t know what they need yet. Remember, your job is to find out what they need. Rule for first meetings is 80% listening and 20% talking. You may also, at this time, introduce some additional information on your company.
9. Proposal – Could be in written form and sent in or preferably presented in person. Either way you have a limited amount of attention from your audience. When in person you have a limited amount of physical time. Ask how long you have before you get there. Avoid unnecessary background, review the opportunity and get to the point quickly. Backup data and more information on your company can be included in the written proposal. If the audience wants to know more they will ask or review it later.
10. (A) First Job – Congratulations, remember it is an opportunity to prove yourself, don’t blow it. Follow-up make sure everything went well. Many unhappy customers won’t tell you. They just stop calling.
(B) No Immediate Need – Track prospect send newsletters etc. Circumstances change. Your job is to get on their shopping list, preferably at the top.
11. Ongoing Relationship – Introduce new products/or services keep in touch. It’s your responsibility to stay top of mind with them. Out of Sight Out of Mind.

You must develop few habits and skills to automate the sales activities.  When I said automate I am referring to automating your mindset.  And here are “10” skills that will help you sail through the sales journey.
  1. Always be planning: spend 20% of you time planning your day, week and month in advance. Plan for activities and plan for results.
  1. Always be learning: Learn everything you can learn about selling.  Read “6” best sales methodologies books and explore what is useful and effective.  Use it.
  1. Always Stay hungry. If you are hungry you will visit the restaurant.  Think hungry think customers and always have 10 – 15 active prospects in your plate that you can close this month. 
  1. Always be positive. You lose some and you gain some.  And when you lose some it’s your attitude that will lift you up and it’s your attitude that can let you down. Hence maintain a positive attitude.
  1. Always be genuine: Always be genuine in your commitments and recommendations. Selling is a game of trust relationship.
  1. Always be sincere: Always be sincere.  Treat your prospects and customers as you would like to be treated.
  1. Always be adding value: Go a step further when delivering your commitments.  A little extra service, an early delivery, a little extra wrapping, an extra training will go a long way in maximizing your customer returns.
  1. Always be developing: Spend more resources on yourself than on your job.  Invest on self development.
  1. Always be measuring: Brush up your mathematics skills.  It will help when calculating discount and measuring to retain statistics on your calls, closures, commission, pending and sales figures on the finger tips.
  1. Always be closing: Explore how you can close your business faster and earlier.  How can you reduce the sales cycle?

Santosh Salve
Consultant & Business Analyst
www.santoshsalve.com
Hello :- (M) +91-9922221349 || Skype :- santoshsalve || Email :- me@santoshsalve.com

Monday, January 14, 2013

Why I have my own domain?

We are social animals.  Business-to-Business is no different.  They are highly socially active and, whether you like it or not, we are getting most of their information from sources that you do not directly control. Neither you are aware of so what you do in such case. The best way is that you take the ownership of your name and promote yourself the best way possible as "Sales & Marketing" is all about it.

After working in various business segments over the past 10 years I have witnessed the way contacts are established and people from various industry segment & business verticals try to search you and connect with you. Also as you work day in and day out over a decade you can not really share all the knowledge and let people know about your achievements, derivations and thinking's but majorly portray the Skills that you have and how you can help an business or group of people who might be looking for you or your guidance and perspective on various things.

Also while socializing you always want to be with group of like minded people who share common visions or thought process to be associated with or to spend time with and build alliances. Hence I have this own self named domain so I am very easily reachable and found when people look for me or my skills or my company to be associated with or form alliances. I ensure I am also highly active in my professional and personal social networks to ensure all my activities are highlighted and shared with the near and dear ones & all my colleagues and partners in the professional world.


 Earlier last year, Base One and B2B Marketing , in association with Research Now and McCallum Layton , published research that sheds new light on the importance of social media marketing. The 2012 Buyersphere Report is based on a survey of 800 B2B decision makers who were personally involved in a business purchase in the last 12 months. The survey included buyers in the UK, France, Germany, and Italy. While this obviously gives the survey a European focus, I believe the results are generally applicable in all markets.
The most significant finding in the Buyersphere survey is that social media currently plays a relatively small role in B2B buying. When survey participants were asked whether they had used any of a given set of channels to obtain information about a potential purchase, the responses were as follows:
  • Web searches – 71%
  • Word of mouth (excluding social media) – 56%
  • Online community sites – 12%
  • LinkedIn – 10%
  • Facebook – 5%
  • Twitter – 3%
  • Other social media – 2%
  • Other – 1%
So considering the above no one can loose the option of been found on the web search results. Hence considering all the above options I am highly active as below :- 

Google Web Search :- www.santoshsalve.com 
Facebook profile page:- https://www.facebook.com/santosh.salve