Finding ways to get the company out of its rut is a key business development strategy.
- Prioritize the most important things. Many business owners have tight schedules. One hiccup and the entire schedule is blown. If this sounds familiar, the problem may be that you are not prioritizing the right things. If you are panicking and scrambling with every urgent matter that comes up, your priorities are wrong. Urgent matters deserve focus and a steady mind. Clear your calendar of unnecessary meetings. Delegate routine matters. Free up your time to handle the things that matter most.
- Cull out the problem customers. A problem customer is the one that makes your life harder with little payback. This is the customer that only orders on occasion and never seems satisfied. This is the customer that is always the slowest to pay. You probably have at least a handful of these customers. Consider dropping these customers and referring them to other companies that can help them better.
- Leverage your team’s talent. If you have done a good job in hiring your team, you need to take advantage of the ideas and talent lying within it. Talk with your team about key operational and strategic decisions. Get their feedback. Ask them to submit new ideas. Keep communications open. You will find that once you open up the flow of information between you and your team, you will start reaping the benefits of innovation and creativity.
- Build processes in your business. If you or your staff have to perform a task on any kind of regular basis, create a process for it. This can be the thank you letters you send out to customers and prospects, or how to handle the mail as it comes in the door each day. Creating repeatable processes ensure two things. First, the task will be done the same way every time. Second, it makes the task go faster, this frees up time to work on more important matters.
What new business development strategy do you plan on adopting in 2015?