Posts Tagged ‘Business development’
Wednesday, June 7th, 2023
One of the key lessons I remember from a time when I did a lot of writing about consulting and had the opportunity to interact with dozens, maybe hundreds, of consultants, was the importance of focusing on prospecting even when you’re very, very busy.
It’s wisdom that I was well aware of when I started my business, Strategic Communications, in 2008, and at first was very easy to do. I wasn’t that busy after all during the early days (especially since this was 2008 and the beginning of a recession!). But as many consultants warned me what I’ve fallen prey to over the years was slacking off on prospecting when my workload became too heavy. (more…)
Tags: Business development, connecting with prospects, constant prospecting, prospect nurturing
Posted in Business Development, Career Advice, Client Relations | No Comments »
Monday, March 21st, 2022
Elevator pitches have been a mainstay of business networking for decades. Initially named because they were likely to be delivered while riding in an elevator, requiring a short, pitchy and impactful statement for that brief span of time, today’s elevator pitches are just, if not more, likely to be delivered via Zoom.
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Tags: Business development, connecting online, elevator pitch, elevator speech, making connections, Zoom
Posted in Business Development, Marketing and Branding, Remote Work | No Comments »
Thursday, November 11th, 2021
There is often tension between marketing and sales in many organizations. But why? Shouldn’t these two functions be closely aligned to most effectively achieve the revenue and ROI goals of the organization? What causes this tension, why is alignment important, and what steps can you take to bring these two important organizational functions closer together? (more…)
Tags: Business development, coordinating sales and marketing, effective sales, Marketing, marketing sales, Sales, sales and marketing
Posted in Business Development, Marketing and Branding, Promotions | No Comments »
Tuesday, June 29th, 2021
I saw a very interesting question in an online group I monitor recently: “Is it ever a good idea to give your work away?”
In this case, the question was related to consulting services but the question could just as easily apply to companies selling tangible products. And, perhaps, it is in comparing the two ─ services and tangible products ─ that this answer can make the most sense: “Yes, there are definitely times when giving your work─or your products─away can be a good idea!”
But when?
(more…)
Tags: Business development, charging for your services, charging for your work, Customer Communication, giving your work away, pro bono, product sampling, speaking fees, Strategy
Posted in Business Development, Client Relations, Marketing and Branding, Small Business Strategy | No Comments »
Thursday, September 13th, 2018
by Justin Grensing, Esq., MBA
One of the most difficult aspects of starting a new business is raising some start-up capital. It’s great if you have sufficient savings built up to keep you going for a few years – yes, it often takes at least that long to start turning a profit – but that isn’t the reality for many entrepreneurs. In addition to the costs of running the business itself – which could include rent, marketing, utilities, raw materials, staff wages, etc. – entrepreneurs are often leaving an existing job, foregoing a steady paycheck.
Traditionally, start-ups are frequently funded by one or more of the “3Fs”: family, friends and fools. (more…)
Tags: business capital, Business development, business startup, crowdfunding, crowdsourcing, funding, venture capitalists
Posted in Business Development, Small Business Strategy | No Comments »
Tuesday, September 5th, 2017
Customer relations is a crucial aspect of any business strategy. And for good reason. Amy Gallo of Harvard Business Review writes, “Depending on which study you believe, and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.” The importance of customer relations is especially true in the B2B context. Typically, B2B companies are working with a smaller pool of customers than B2C companies, and each customer, therefore, makes up a larger share of revenue.
McDonald’s doesn’t want to lose customers, but it’s a lot less painful for McDonald’s to lose a customer than for Boeing to lose one. Similarly, many businesses serve both consumers and businesses. Consider a rental car or hotel company. They obviously have many individual consumer customers, but they also serve large organizations, such as corporations with staff who travel regularly.
So how do you maintain those crucial strong relationships with B2B customers? Here are some tips. (more…)
Tags: B2B, B2C, Business development, Customer Communication, customer engagement, customer relationship management, customer satisfaction, Customer Service, retaining customers
Posted in Business Development, Client Relations | No Comments »
Tuesday, August 8th, 2017
A frequently quoted “formula” in the field of customer relations tells us: “expectations – reality = disappointment.” While this may seem simplistic, don’t relegate it to the ranks of witty sayings or bumper sticker slogans. There is a great deal of truth in this straightforward equation. Most business owners, managers and customer-facing employees have dealt with unhappy customers. It’s part of the job. But all too often, that customer frustration or disappointment can be avoided by properly managing expectations. (more…)
Tags: Business development, client engagement, Customer Communication, customer engagement, customer expectations, customer satisfaction, Customer Service, managing customer expectations, realistic sales preview, sales process
Posted in Business Development, Client Relations | No Comments »
Thursday, September 15th, 2016
We talk a lot about the value of online marketing and analytics for growing your business. These are crucial tools; however, it’s also important to keep in mind that business is also very personal. While outreach through the internet is certainly a must, knowing how to effectively network on a more personal level is critical. This is especially true for larger customers, business-to-business relationships and engaging with key influencers. The same is true for executives in larger organizations. As reported in Fast Company, “A recent study of 6,000 executives at 3,000 companies in the U.S. and Europe found that executives with 50% more professional contacts above the average, had a salary 3.5% or $15,000 higher than their less gregarious/friendly/sociable colleagues.”
So how can you network online, and off, in a way that’s designed to build value—and relationships? (more…)
Tags: building business, building client relationships, Business development, business networking, effective networking, networking
Posted in Business Development, Career Advice, Client Relations, Marketing and Branding | No Comments »
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