The secret is in: It takes more than just talented sales pros to grow a business. It takes effective training & reporting systems that deliver critical performance info fast!
The secret is in:Â Establishing, managing and making successful a business development team that delivers is a complex sales process requiring systems (technology and management systems), procedures and talented sales pros.
No one that I know of will disagree with me when I say that it is new sources of profitable revenue that fuels a company’s ability to grow and prosper. For many business executives, revenue only comes as a byproduct of sales pros delivering profitable business in large volume sufficient to generate a healthy bottom line profit. It is this “bottom line profit” that is the energy source which grows a healthy businesses.
It is not only volume that counts. It is profitability of the business delivered.
To ensure there are the desired profit, there must be systems in place. What do I mean by systems?
Technology software resources including salesforce automation software tools that will provide management information it needs to manage and control the bizdev functions.
- Using systems such as ACT, Goldmine, SalesLogix, Salesforce.com, Microsoft CRM, etc., bizdev managers can, by synchronizing bizdev pros laptop salesforce automation systems onto a central dB. The result – management being able to review individual pipelines of new (or enhanced) business opportunities, determine at what point in the sales cycle the opportunity is and track its progress towards a close.  Reports such as this help management know what their sales personnel are doing and allow them to project sales & cash flow.
- Time Management Systems – helping focus the sales pros time and energies – controlling the process and ensuring that non-sales functions are handled at appropriate, scheduled times.
- Traditional and e Marketing Systems – a “rich and customer friendly” website which communicates the company’s vision, its product/service offerings, the company’s USP (unique selling proposition), and provides a mechanism for people to interact with the company. Most websites are anything “but” user friendly.
- Communications Tools – print or electronic newsletters – providing a on-going, monthly communication with existing and prospective customers/clients. Your sales pros may not be able to get in front of every prospect/customer every month. If you have a well written, “interesting”, content rich e Newsletter, you should be able to communicate with every prospect/customer at a very low cost (< $.05/month ea vs. $.50/via post cards using snail mail). Visibility counts in business development – do you have the system in place to ensure a high level of visibility with your target market?
- Compensation Programs which pay business development professionals a salary large enough for them to “live” without fearing that they’ll not be able to pay the rent, buy gasoline, food, pay for insurance, etc. Nothing could be worse for anyone new to a job than to find themselves unable to “make it” economically until their revenue (sales) figures hit a high goal – often placed so high as to seem “blue-sky” to the uninitiated. Compensation programs have to pay enough to keep new employees from firing themselves because they’re getting pressure at home about money. That truly is a frequent cause of companies positioning themselves for a high-employee turnover factor.
- For example, the author met with a dealer/distributor training manager. A question was asked: “how many salespeople does your company hire every year?”. His answer was, “20″. Then we asked, “how many of these business development professionals were with you at the end of a year? He said, 1 (one)”. Inotherwords, it took 20 people hired to get one to stay long enough to hit their company’s goals and prospect. It is doubtful that this company is either 1) paying their bizdev pros enough $’s to live – or – 2) giving them the hands-on management help they need to succeed. Worse, for that dealer/distributor, the cost of the 19 business development professionals who didn’t make it plus their lost-opportunity costs makes this one of the most costly business development systems the author had ever seen.
- Making Sure Your Management Team Is Trained To Be Successful – The most successful companies training their management team to manage business development professional. This is particularly important if one is promoting top performing bizdev pro who has never managed anyone before.  If your management team has little experience or knowledge of recruiting, hiring, training and motivating salespeople – or has worked within a company where management is only a name on the door, then consider either hiring talent from outside the company. Or if you decide to “go” with internal talent, don’t short-circuit their chances for success by expecting to “know” what they’re doing. Give them the systems and training they need to succeed.  A word of Warning: Remember, its tough for a bizdev pro from inside a bizdev organization to be promoted and be effective in managing their historical peers. Most larger companies “promote and transfer” rather than doubling the challenges for new managers by putting them in charge of their friends/associates.
- Creating or acquiring a well though through business development training process which cover all the elements necessary to bring new hires aboard and make them successful quickly and consistently. These elements include:
1. COMPANY, PRODUCT & MARKET KNOWLEDGE – Develop a thorough knowledge of the company, its products & services and why its different than the competition – The competition – who they are and why they’re different, what is their “go to market” strategy, creating a competitive chart – understanding your unique selling proposition (USP) and distinctive competencies.
2. DEVELOPING COMMUNICATIONS SKILLS – successful business development is all about proper communication. Developing templates for outside communication – emails and voice mails that “get return calls” – Developing proper communications skills for inside the company that will create alliances with the people inside who can help!
3. PSYCHOLOGICAL ISSUES – ITS NOT JUST “HOW TO” – creating the proper belief systems, attitude adjustment time, getting rid of the limiting mindset – step-by-step development of a goals book, confidence building – balancing work and life – what “hitters” think like …
4. ORGANIZATIONAL ISSUES – recognizing & reducing non-productive activities – planning each and every day – territory mapping and management skills – time management – dealing with non-business development issues
5. ”STREET SMART” MARKETING – Defining 3-ways to grow your business, developing the biz/dev pro’s own marketing plan, how to get articles in trade publications and the like, how to source speaking opportunities at trade associations for exponential growth in a vertical (industry), successful direct mail techniques
6. PROSPECTING – Making sure that the sales funnel is always filled, why it can never stop, understanding the numbers, learning where to look, how to contact, pre-call planning, cold calling skills, successful methods to get appointments, making the “gatekeeper” your best friend.
7. SALESMANSHIP – separating the business development professional from who they truly are – setting expectations for the prospect, creating an agenda for each meeting so there are no misunderstandings, determining what goes in your attaché, creating a Street Smart Car Kit, developing a pitch book, developing your own PowerPoint presentation, creating an effective opening statement for the appointment, structuring the selling process, understanding real and false objections, closing business, maintaining relationships
8. NETWORKING SKILLS – HOW TO PLAY THE GAME – Understanding the benefits of networking, developing a successful 30-second intro for an event that actually will get you appointments, identifying proper network events to attend, creating an agenda for each event, scheduling events into your day, following-up after for maximum results
9. AFFILIATES – understanding leverage – how to identify potential affiliates – how to approach and negotiate – managing your affiliates (“Flower Power”) – creating a proactive plan – reporting on the relationship – contracts – developing a finders fee commission plan that’s fair to both sides, motivating the affiliates, getting rid of unproductive affiliates.
10. TECHNOLOGY – overview of technology as it applies to business development (Salesforce automation tools), benefits and costs (of not using it), overview of the MSOffice Suite, overview of contract management programs, PDA/Palm PC technology, learning tricks and short cuts – sources for advanced training.
11. ACCOUNTABILITY – understanding the business development professional’s biggest challenge – defining who is accountable to who – creating systems to be accountable – why being accountable is a big benefit – understanding and establishing the “no excuses – no regrets” mindset – scheduling time to make sure it happens.
12. TURNING STREET SMART SKILLS INTO HABITS -understanding the pieces to the puzzle – turning skills into revenue building habits – setting goals and building a sales plan to drive them – recognizing and eliminating the distractions that keep you from creating these habits.
2. DEVELOPING COMMUNICATIONS SKILLS – successful business development is all about proper communication. Developing templates for outside communication – emails and voice mails that “get return calls” – Developing proper communications skills for inside the company that will create alliances with the people inside who can help!
3. PSYCHOLOGICAL ISSUES – ITS NOT JUST “HOW TO” – creating the proper belief systems, attitude adjustment time, getting rid of the limiting mindset – step-by-step development of a goals book, confidence building – balancing work and life – what “hitters” think like …
4. ORGANIZATIONAL ISSUES – recognizing & reducing non-productive activities – planning each and every day – territory mapping and management skills – time management – dealing with non-business development issues
5. ”STREET SMART” MARKETING – Defining 3-ways to grow your business, developing the biz/dev pro’s own marketing plan, how to get articles in trade publications and the like, how to source speaking opportunities at trade associations for exponential growth in a vertical (industry), successful direct mail techniques
6. PROSPECTING – Making sure that the sales funnel is always filled, why it can never stop, understanding the numbers, learning where to look, how to contact, pre-call planning, cold calling skills, successful methods to get appointments, making the “gatekeeper” your best friend.
7. SALESMANSHIP – separating the business development professional from who they truly are – setting expectations for the prospect, creating an agenda for each meeting so there are no misunderstandings, determining what goes in your attaché, creating a Street Smart Car Kit, developing a pitch book, developing your own PowerPoint presentation, creating an effective opening statement for the appointment, structuring the selling process, understanding real and false objections, closing business, maintaining relationships
8. NETWORKING SKILLS – HOW TO PLAY THE GAME – Understanding the benefits of networking, developing a successful 30-second intro for an event that actually will get you appointments, identifying proper network events to attend, creating an agenda for each event, scheduling events into your day, following-up after for maximum results
9. AFFILIATES – understanding leverage – how to identify potential affiliates – how to approach and negotiate – managing your affiliates (“Flower Power”) – creating a proactive plan – reporting on the relationship – contracts – developing a finders fee commission plan that’s fair to both sides, motivating the affiliates, getting rid of unproductive affiliates.
10. TECHNOLOGY – overview of technology as it applies to business development (Salesforce automation tools), benefits and costs (of not using it), overview of the MSOffice Suite, overview of contract management programs, PDA/Palm PC technology, learning tricks and short cuts – sources for advanced training.
11. ACCOUNTABILITY – understanding the business development professional’s biggest challenge – defining who is accountable to who – creating systems to be accountable – why being accountable is a big benefit – understanding and establishing the “no excuses – no regrets” mindset – scheduling time to make sure it happens.
12. TURNING STREET SMART SKILLS INTO HABITS -understanding the pieces to the puzzle – turning skills into revenue building habits – setting goals and building a sales plan to drive them – recognizing and eliminating the distractions that keep you from creating these habits.
Training With Management Interaction Is 300% More Effective Than Training Without It – Sound logical? Yes it does. Why, then, do so many companies put their people through training and have them return from the process without being encouraged to use the skills, knowledge and training they received in their daily routine? Its surprising but the majority of companies do exactly that. Thousands – hundreds of thousands of dollars are spent putting people through training only to forget that management needs to be involved both in the training and in the implementation of the processes (or skill sets taught). The goal is to create good work habits. Ask yourself, is your training program effective at creating habits???? If not, think about making management a part of the process.
Moving Ahead:
Moving Ahead:
Retailers/Distributors/Manufacturers/Service Companies can achieve 20+% growth if they recognize that MANAGEMENT “IS THE KEY”. If your management team is untrained – or doesn’t have the tools, resources, technology or other key elements, they and you are operating at a tremendous disadvantage.
Short circuit that disadvantage and you can win.
Short circuit that disadvantage and you can win.
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Craig holds an MBA from the University of California (Berkeley) and has been awarded the coveted CMC Certificate by the Institute of Management Consultants - Washington, DC. Stimmel's clients include AMOCO Oil, Staples, John Heath & Co Ltd (UK), Beautone (Taiwan), Hunt Mfg, Avery-Dennison, Steelcase, The Hon Company and many others. Craig is a nationally published author of articles covering both distribution and service business development issues as well as being a featured speaker at trade events and conventions.