12 Steps for Implementing a Successful New Business Development Strategy

1. Write down where you want to be. Set targets for customer growth, revenue, profits, sales to existing customers and employee attrition.

2. Take a factual look at where you are at in each of the areas listed in step number one.

3. Look at the gaps that exist from where you are at to where you want to be. Analyze the gaps the gaps using an adaptation of an old method developed by Dale Carnegie:

i. What is the gap?
ii. What are all the causes of the gap?
iii. What are all the possible solutions?
iv. What is are best solution(s)?

4. Clearly understand the impacts to the organization by closing the gaps that exist between desired outcomes and current results. Identify the benefits and measure impacts in terms of revenue and profit. Identify how desired results provide long term stability to the company and its employees.

5. Set short-term, intermediate and long-term goals and establish evaluative criteria and evaluation times. You must know what you want to hit, when you want to hit it.

6. Clearly establish inspection intervals for evaluation and corrective actions when needed. Know what key performance indicators you are going to measure and how you are going to measure it. Establish how you are going to evaluate company and individual performance and how often you are going to inspect results.

7. Write down all of the critical organizational actions necessary to achieve your business development objectives as outlined in step one.

8. Involve Employees. You must determine your initial program roll out and on-going progress communication methods and intervals to employees. Let them know what you are doing, why it is important to them (people are always more interested in how something impacts them) and how you are going to measure results. Discuss rewards to the business and its employees, if rewards are part of your program. Communicate consistently to employees at frequent intervals concerning program progress. Tie results to employee compensation and bonuses whenever possible.

9. Implement the program. Nothing happens without action. Usually things get worse with inactivity.

10. Monitor the progress of your program and adapt your practices based upon measurement and actionable analysis.

11. Communicate your results to critical stakeholders.

12. Ensure that new customer acquisition in profitable ways becomes an integral part of your business culture and practices. Make it a focal part of all new employee orientation. Include it as part of your regular management and employee meetings. Tie program objectives into employee compensation plans.





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