Winning New Business
03 Apr 2012
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I love new business. Pursuing it. Pitching it. Especially winning it. And working it with a new client.
The process requires activating all the reasons you chose the field you’re in. Starts with owning the necessary capabilities; recruiting the right people; being good and different…and confident of it; developing critical insights in to the prospect’s business, needs, personality, decision-making; and, of course, enjoying the competition.
Beyond the obvious financial advantages (even necessity) of generating new income, a robust new business operation provides significant value in other ways. For example, it helps you evaluate your strengths and weaknesses in the marketplace. That can lead to a more defined and focused marketing and messaging strategy. Plus, there’s nothing like a challenging new business project to provide for a team-building opportunity internally.
Personally, I have always appreciated the chance to learn something new by addressing the needs of a possible new client. Their industry category, their position in it, the company’s history and culture, the competition, how they utilize communications—all are opportunities to develop further insights, meet some interesting people, and evaluate just how well-equipped you are to develop another long-term client who’ll help sustain and grow your own business.
Since I also believe existing clients must take priority over prospects, I appreciate how your current clients benefit when you have a “work out” around a new business exercise. Without exception, you uncover something that applies to your work for them.
Over the next couple weeks, I’ll offer some discussion about 10 Rules for Winning New Business I’ve developed over the years. Each has helped me guide the development and implementation of new business operations and, specifically, a new business pitch I really wanted to win. (And, yes, that would be every one of them.)
Watch for the first one: “It’s a team sport.”