Last week, we discussed about the nature of business development and why it is essential for your company in terms of creating value for your customers. In this second part, we will discuss the inherent challenges in business development and how to overcome them to ensure long-term success for your company.
Problems can arise when we treat business development as a function, and not an intention.
When we rely on salespeople to find new business, we ignore the people who interact with customers every day and who have access to insights and opportunities.
When we rely on proposal teams to write proposals, we ignore the knowledge of the people who deliver the service every day and who know it best. We are also letting those people abdicate from the need to sell what they do, as well as just “do” what they do.
And when we rely on our good track record as the incumbent supplier to see us through a contract renewal, we leave ourselves vulnerable to being picked off by competitors. Only 50 per cent of incumbent suppliers end up keeping the customers they have worked very hard to win and to serve. This isn’t because they are doing a bad job – most do quite a good job. It’s because they are still doing the same job, and this just doesn’t cut it with customers any more.
As an HR Director or practitioner, here are five ways that you can contribute to the long-term business development success of your business or organisation.
Robyn Haydon, www.robynhaydon.com, author of “Value: How to talk about what you do so customers want to buy it”