We now return our reasons based on the topics themselves for our 6th reason to attend. You will remember leadership I rated such an important issue for us, not only in business but in life, so that for that reason alone the conference (http://www.astoundingleadershipinsights.com/) was worth attending. But there is also another prominent topic that the day is about. True, this is much less generic than leadership, but if you are in business or even in a not-for-profit organisation it is still vital; I mean business development.
Business development and its associate, selling, is the life blood of any organisation and without it nothing happens. I heard on social media recently some report outlining the number one reason businesses fail: poor cash flow! Almost sounds like a tautology, doesn’t it? But it’s not if I think that poor cash flow results from poor sales, and poor sales inevitably stem from a lack of business development. Without in any way undermining marketing, which should go hand in glove with business development and selling, I can truly say that often times I have encountered situations where organisations have failed because they have marketed and relied solely on that or those marketing channels, and there has been no effective business development or corresponding sales strategy to realise the power inherent in the marketing. At the end of the day – certainly in service businesses – one cannot overestimate the importance of people in the business development and selling spheres. Certainly in the SME arena, I would always err on the side of committing to business development rather than more money in a marketing budget, since I know the results would be far more immediate and tangible (a generalisation, but I hope an acceptable one, as I would accept that longer term the absence of sufficient marketing would make business development increasingly problematic).
If we are going to develop a business we need – in simple terms – to think of three areas where we focus our efforts: where can we find more prospects for the products and services that we currently have? Or, how can we develop further products and services for the clients we already have? Or, how can we create new products and services for entirely new markets? Usually, one might work on one area at a time, since any one area is substantial in itself, and we all wish to avoid the Stalingrad effect: namely, dividing our forces when we reach Moscow and trying to capture Leningrad, Stalingrad and Moscow at the same time and thereby wholly losing the war and capturing none of them.
One noticeable thing about all these three areas is: they require innovation and creativity. It’s not easy to acquire clients when there are so many other people in the market place. One of the experts speaking at the event is my good friend, Steve Jones (http://www.skillsforbusinesstraining.co.uk/). I have known Steve for 12 years and been consistently impressed by his business development skills; he is like a kung fu master at selling and business development! He will doubtless provide many insights into business development and selling when he speaks, but I strongly recommend anyone attending to speak and connect with him during the breaks, since one will learn a lot just speaking directly with him; indeed, you can learn a lot watching Steve Jones perform too – which is true of course of all high performers.
For myself I shall also be offering insights into business development based on my 21 years in the game. Here are two points for starters that I shall doubtless be enlarging upon on the day: one, that everything gets tired and weary after a time, including products and especially services; there is a need for constant re-invention because prospects need re-stimulation. And, two, the strongest way forward of all is through IP or intellectual property. We need to take far more seriously the need to innovate and then ask ourselves how we can protect and develop that innovation. As we develop our innovations, so we develop our business and our potential markets. On the one hand, this can seem intimidatingly difficult, but on the other it is actually what you, as a human being, are born to do: to create. If you haven’t done it already, it is either because of a deficiency in your awareness or a limitation in your self-belief system. To find out more join me on the 8th September. If you are not there, how will you grow?
My next blog will deal with reason #7.
The Mapping Motivation Series 