For most businesses, getting new customers is their #1 priority, which is why I discussed how to establish a simple Prospecting and Lead-Generation System in the first module in this series.
We’re familiar with accounting systems, payment systems and inventory systems. Not only are these functions important, they’re also the fundamental underpinnings of a well run business. And while most small businesses and consulting practices have these basic systems in place, unfortunately that’s often where the efficiency and management ends.
A new business development manager will initiate — then manage — relationships with outside parties who can drive buyers to you or otherwise help your revenues grow. They can find new markets, source new product lines or recommend new service offerings, do market research, represent you in the field, recruit bigger joint-venture partners than you would be comfortable pursuing, create important strategic alliances and so on. They are not salespeople per se, but rather, they develop entirely new revenue streams for the business.
Another benefit to daily prospecting occurs when you invest in prospecting beyond what your industry “norm” has always been — when you find a new way to reach and communicate with your ideal prospects that’s different from what your competitors are doing.