How To Overcome Seven Common Business Development Challenges.
Every business development leader has their struggles. However, some challenges are more common than others; and often, you’re not the only one facing an issue. That’s why we asked the experts of Forbes Business Development Council about some of the major challenges today’s business leaders are facing. Incorporate their advice to help you overcome issues ranging from finding the right talent to learning how to sell effectively through social media.
Seven leaders shared their tips for overcoming common business challenges.
All photos courtesy of individual members.
1. Cutting Through The Clutter.
We live in an age of information overload. We are bombarded with emails, text messages, social media updates, breaking news and a lot of other noise. I believe the biggest challenge those of us in business development face is figuring out how to cut through the clutter. My best tip is to make sure that your message is worth listening to. If it isn’t, it will be that much harder to break through. – Adam Mendler, The Veloz Group.
2. Building The Right Team.
You have to make sure you have the right team if you want to grow your company. There’s only so much you can learn about a person via social media or a resume. Using personality assessment tools can help you identify traits in a person that you can’t in an interview or on a piece of paper. Only when you have the right team can your group grow in the way it was intended to. – Christian Valiulis, Automatic Payroll System.
3. Navigating Our Connected World.
A major problem we are facing is a lack of knowledge and understanding of how social media and online tools can play a prominent positive role in the sales process. The most effective tip I have is to find a mentor, take a class, or join a program to discover how you can use social media as a tool. This is what I do, and I find it extremely effective. – Clinton Senkow, Influencive.
4. Finding Validated Leads.
The most challenging and expensive part of business development for me has always been the hunt for new and validated prospects. Today, however, we have to contend with more competition, fewer face-to-face and phone conversations, a more informed consumer and buying behaviors that are changing rapidly, often over months instead of years. Staying disciplined and informed is crucial to ongoing success. – Jen Tadin, Gallagher.
5. Acquiring And Retaining Talent.
The largest issue affecting a successful company is often the acquisition and retention of good talent. I always look for people who are happy with what they are currently doing yet open to a new challenge. This eliminates any potential employees who are just looking for a “job” and helps finds individuals who are pursuing a “career.” – Nathan Hasse, Simpatico.
6. Gauging Client Responses.
Sales must strike a balance between optimal outreach and overkill. We teach the sales team to “read between the lines” with client responses and react accordingly. Our leaders work with them to map out a client organization and understand how to operate in its culture. Timing is everything. If a client isn’t responsive, salespeople can be patient and return later to employ a fresh perspective. – Shailendra Singh, MarketsandMarkets.
7. Time Management.
Sales leaders need to manage the scarce resource of time. In a digital world, there is a tendency for prospects to lean toward emails or calls that often lead to longer sales cycles. But time and time again, I see that face-to-face meetings lead to significantly better outcomes, so do whatever it takes to get a face-to-face meeting ASAP. A willingness to meet is also a great qualifier of opportunity. – Gregory Kim, Slickdeals.
Forbes Business Development Council is an invitation-only, fee-based organization for senior-level sales and business development executives. Find out if you qualify at F…
Forbes Business Development Council is an invitation-only, fee-based organization for senior-level sales and business development executives. Find out if you qualify at Forbes Councils.