Prospecting

The many reasons small business turn this vital function into a part time job!!

It goes by many names, prospecting, business development, cold calling etc. depending on your industry. Regardless of the name, the function of driving new sales revenue is not easy & can be downright discouraging.

Therefore it''s not a surprise that many small companies put this on the back burner & only engage in the practice when they see a sales deficit. Unfortunately, this is not much of a business development plan that will return positive results.

If there was ever a business practice that would test your resolve & commitment, this is it. In baseball, we constantly hear that failing 70% of the time can result in an excellent batting average. Well be prepared to fail more than that (again depending on industry).

We are talking about thousands of email, phone calls, presentations etc. Not to mention the thousands of follow up notes. AND the thousands of "no thank you's"; if in fact you get anybody to return an email or phone call.

Yet, those companies that do have a consistent 12 month business development plan are much more prepared to replace maturing accounts, find new prospects & develop new relationships for the future. The sales cycle is never put on hold.

If you are not fighting each & every day for new business, it is only a matter of time before the natural forces of the business sales cycle negatively impact your account base and revenue.

There seem to be many reasons & excuses to avoid prospecting. Yet, none seem to make any sense when faced with the options.

In business you are either growing or losing market share; there is no standing still.