‘Business Development’ is a term that frequently gets thrown around in the corporate world, but do you actually know what it means? and do you know how to successfully develop new business? If not, Salesworxs’ Business Development training could be the perfect solution.
Put simply, business development is all about building a long-term strategy that seriously considers the company’s ongoing relationships and identifies potential new opportunities. It’s about knowing which opportunities to pursue, secure in the knowledge that they’re going to add value to the company. You need to consider how all your customers, partners and markets interact and identify where any growth is going to come from.
On a Salesworxs’ training course, we’ll show you how to ditch the ‘get rich quick’ mentality and start thinking about how to craft a sustainable Business Development plan. To truly transform the culture of the company, the more people you can get involved the better, everyone in your organisation is a representative of your brand and has a role in Business Development.
Reviewing Your Current Business Development Plan
All our Business Development training courses begin with a frank discussion about your current goals. It’s common sense that any sales team needs to know what it is being asked to achieve before producing a credible plan on how to get there.
We know it’s a cliché, but SMART goals truly are the way forward. They bring some much-needed clarity to otherwise woolly sales statements. For example, ‘to increase sales’ might become ‘to increase sales from our primary service by 10% in the first quarter of 2018’. If, during this initial discussion, it becomes clear that your present goals do not contain such detail, are simply unrealistic or not ambitious enough, we can help you to formulate some that do.
As part of our review into your present Business Development plan and associated sales tools (sales process, proposals, presentations, product / service overviews etc.), we will discuss where you are currently concentrating your efforts. Your time and energy is precious and we want to ensure that you’re only focusing on the most fruitful opportunities. Spreading yourself too thinly without clear direction and allocation of time on specific activities will achieve nothing.
We will also assess the capabilities of the wider business development team. It may be that a knowledge or skills gap is what is holding you back and preventing you from fulfilling your goals.
Assessing Opportunities and Growing the Client Relationship
Any skilful Business Development employee should be able to make accurate judgements about the quality of the opportunities the company has been presented with. Following each meeting or conversation with a client or prospect, they should be able to quickly assess whether it is worth actively pursuing that relationship further, sometimes against some specific criteria that results in a ‘Sales Opportunity Score’. There’s little point in committing resources to an opportunity which isn’t going anywhere or not worth winning!
We will teach you techniques on how to effectively qualify leads, establish a roadmap for the relationship and secure firm commitments. With that foundation in place, we can then show you how to present back a compelling solution and handle any concerns or queries.
Sustainability is crucial to the success of any Business Development plan and that comes from excellent management of client relationships. By remaining proactive and attentive to the client’s specific needs, you are far more likely to secure an up or cross-sell. In our sessions, we’ll show you how to demonstrate your full capabilities and strengthen any current relationships to the point where you’re able to have those conversations.
Measuring Businesses Development Success
No matter how brilliant or SMART your Business Development goals are, you’re not going to get very far if you can’t measure the success of your work and identify where adjustments need to be made. We will introduce you to a variety of methods and techniques that will help you keep track of your progress. These include: noting how many proposals have been set out, recording client satisfaction and any referrals they make, logging instances where a client has been successfully up or close-sold, and knowing your current win rate. These essential data points can more often than not be recorded in your current CRM (Customer Relationship Management) system.
Understanding and effectively utilising this wonderful data is what makes it meaningful. We’ll show you how to identify trends and patterns within the figures, which should then highlight areas of strength and weakness within your Business Development plan and team. With this evidential data at your fingertips, you should feel empowered to make those crucial business decisions.
Our Business Development Training Course
Each of our Business Development training courses is bespoke to the client, created with their specific needs and requirements in mind. In the same way that every business is unique, so is every Business Development plan. We make no assumptions about the current knowledge level of your team so everyone should feel welcome and able to contribute to the discussion.
Given that all our training is classroom-based, we are more than happy to work in a location of your choosing. Whether that’s in your offices or off-site during an away day, we can be flexible.
For more information about what we can offer you, please get in touch today.