Business development is more than just looking for new external customers. From experience Rakesh has found that the biggest source of new business and income can often come from your existing customer base. There is usually a huge untapped source of income from existing clients; it is often just about finding a way to maximise the client opportunity. This is just one of the ways in which I can help to generate significant extra sales to aid your business development.
Some business development questions to consider include:
- Are you achieving the highest levels of profitability in your business?
- Are you confident that your business is currently operating in a highly efficient, effective, and profitable manner?
- Do you have the correct balance of existing customers and new customers?
- Do you have effective ways of measuring all elements of your business performance?
- Do you have reports to regularly provide you with business critical information which you can promptly act upon?
- Are you effectively enhancing relationships with your most important/key customers?
- Are you being objective when reviewing internal process, procedure and general ways of working to ensure they are effective and fit for purpose?
- Where are your next 1, 2 and 3 years of sales coming from – do you have a strategy? What is your sales pipeline? Do you have a plan B?
- What percentage of your market do you currently occupy? Can you significantly increase it?
- Are there new markets you want to enter?
- Do you require new technology or working processes to improve the way that you currently operate?
- Outsourcing business expansion can save you significant time and money. Should you consider this?
“Rakesh was tasked with market penetration strategy from various sectors. Eleven new companies contacted, resulting in several orders being placed” M.D Future A.M
Rakesh can work with you on refining these and other business development processes. To find out how we can help contact Rakesh today.