Business Development Is Not An Event
Cash flow. To stay in business, you've got to keep a steady stream moving through your company.
A small business owner mentioned the other day that he has "enough work to keep his staff busy until next February." Another mentioned that his current projects were ending and he needed to "start beating the bushes for more work." Which one do you think will be successful?
The first business owner was busy taking action so he would have business long into the future. The second owner is typical of many business owners today. It's unlikely that the second business owner will be around for long. He'll either run out of work or become so burnt out he gives up.
To survive in business, you must never stop looking for that next business opportunity. Dedicate at least 25 percent (50 percent or more is better) of your time to developing future business.
Make sure that new business development has dedicated space on your calendar every single week. Think of this activity like a funnel. You always need to have a pile of new contacts coming in the top of the funnel so you'll have plenty coming out the bottom.
And remember, business development is not an event. It's an ongoing process that requires regular action.
About the Author
Denise O'Berry frequently speaks to professional organizations, is the author of three booklets, and several "how-to" manuals. She writes a weekly small business column, hosts an online small business owners forum and is called upon regularly by publications such as Entrepreneur, Bank Rate Small Business, Florida Trend, Inc., various newspapers, radio and television to provide expert comments on small business issues.
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