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How to Develop New Business

Want to develop more business? Developing and managing leads for potential new customers is crucial to any small business. Let my years of trial and error help you get the advantage over your competition you need.

In the event you are connected with your target. I.E., decision maker, the floor is now yours. Speak slowly and clearly. Get to the point within the first 10 seconds or he will more than likely lose interest. Don't ask for business immediately. Instead, introduce yourself and your company. Illustrate what your company offers, state you understand his time is valuable, and would like to send him some information in the event he needs your services. He will either offer you an opportunity, or thank you for your offer.

Pick up the phone. Now, this is the tricky part. You will more than likely be connected with the secretary or answering service. The first sentence out of your mouth with either land you in your target' s voice mail, or hung up on. Don't sound like a salesman. Instead, ask for help. Give the "gate keeper" the power. Ask questions such as, "Who would I speak to in order to be set up on your company's' vendor list". Or, "In order to do business with your company in the (Blank) department, who would I speak to." Next, you will either be connected with your target, or given the information you need to move to the next step.

Now, since you've done your research, you have his street address, email address and fax number. Mail/email a letter, on your company's letter head, stating how you appreciate the time he took to speak with you today. Include a copy of your company's insurance, W9, Workers Comp, reference list, etc. Now, this process needs to be consistent. Just because your target didn't need your services today, doesn't mean he won't next week, month, or year. Stay in front of him. Direct mailer, phone calls, email, birthday cards...be creative. Eventually, if you stay persistent, he will give you the opportunity you seek.

First, we start with data mining. Pick the top 10 businesses you want to do business with. Research online everything about the company. What their business produces or services they offer. Obtain names and positions of their key employees. Most company websites will list CEO's down to their janitor. Make an org chart, as best as you can, of the top 5 decision makers.

Here are a few notes. Your target prospect will more than likely already have a supplier of whatever service or product you are selling. You need be smarter, offer the same product or service cheaper or in a different way than your competition to get them to stray. In this economical hard time, people are more than ever willing to hear out their favorite suppliers competition. Find which company they are currently using, data mine them. Look for areas in their company they lack that your doesn't. Repeat this entire process with 10 new business a week. I'm certain your business will increase, along with your profit margins.

Difficulty: Moderately Easy

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