Identifying & generating new business requires a laser focus on the critical skills required to open and develop sales with new AND existing customers or clients.
My experience is that this is far easier to say, than to actually do it consistently, effectively, and successfully.
I have seen many organisations, and heard many sales leaders talk about developing new business as a numbers game. You know the story… “If you call 100 prospects, you’ll end up seeing 10 and doing business with 3.” The problem with that approach to generating pipeline or managing the ‘sales funnel’ is that it is demoralising and frankly ineffective, since that approach mathematically tells you that 97% of the prospects don’t find you or your message relevant.
In my experience, these are the things you’ve got to be good at, to succeed in developing new business:
- Go To Market Strategy;
- Targeted Market Messaging;
- Effective Targeting and Prioritisation;
- Research & Preparation;
- Creating Powerful Value Hypotheses;
- Planning Initial Contact;
- Making Effective 1st Calls;
- Needs Analysis Dialogue Skills;
- Recognising Different Social Styles; and
- Handling Pushbacks or Concerns.
Top performers are good at ALL OF THESE. Organisations that prioritise, prepare and plan effectively get the best results, i.e. the greatest share of opportunities.
Here’s the GOOD NEWS. All of the above skills are teachable and coachable, with willing participants and a well constructed approach.