We live in a busy world, full of distractions. As business developers, this sometimes makes it challenging to keep our business opportunities on track. Hopefully, this short post will prompt a few thoughts about the importance of keeping a tight step-based process around opportunities from origination to close.
See it as a mountain stream, as long as it flows, the water stays fresh. But when it gets trapped in a motionless pool, it turns murky and stale.
It may seem so obvious, but many of us fail to run a progressive routine to stay on top of the sales cycle, myself included.
Break down the sales process into individual next steps. Make sure that both you and the prospect know exactly what needs to be done next, it creates a vested interest because both parties will want to make sure all the time and effort will lead towards a result.
I guess you're doing it right when there is always a straightforward answer to the question 'what is the next step?'
This is almost too simple to write a post about, but sometimes we just lose touch with the basics.
About the author: Baldwin has been active as a business developer in the investment industry for more than 20 years. He is a partner at Silk Invest, a fund manager dedicated to the frontier markets. He was an early adapter of social media within the investment management industry. His efforts have helped position Silk Invest as one of the leading managers in the frontier space. In collaboration with Perfecta Partners, Baldwin also helps other financial services companies improve their content marketing and social media strategies.