Best Practices in Sales, Sales Management, and Business Development

The most successful sales and business development structures contain absolute defined “Best Practice” Guidelines within their operation and make sure these are part of the culture established within the sales organization.

We have identified ten steps that senior management should structure to accomplish a “Best Practice” structure in their business development models.

Internal Culture

Establishing an internal culture in sales and business development is a first step in making sure of high levels of performance and success.

The culture emanates from a ... mission focus ... that becomes the mantra of how sales navigates the challenges of developing business on an international scale.

As examples:

BLUE TIGER INTERNATIONAL

The sales team will:

Work hard and creatively to provide a value proposition to all companies that continually exceed expectations.

DRAGONFLY GLOBAL

The business development team will:

Sales drive this company forward, and this team will do all possible to earn the respect of prospects turning them into clients by offering competitive pricing, great customer service, and value for their spend.

NATIONAL INSTITUTE FOR WORLD TRADE

Sales will:

Offer great value, customer service, responsiveness, and responsible account management to our clients’ continual benefit.

These three examples emulate a mind-set on how their sales team will pursue and interface with prospects and clients.

Notice the word “value”, which is utilized in different forms ... but creating an important sensibility with the prospects and clients.

This “internal culture”: becomes a motto to lead conversations and leadership in some of the following areas:

In sales ... think about how important ... continual prospecting, competitive pricing, creative approaches, differentiation, persistence, and client focus/value add ... are all to the overall success of any sales or business development initiative.

Global Mind-Set

The international salesperson needs to develop a mind-set on a much larger and comprehensive scale that incorporates all of the global community as his or her market.

When this mind-set occurs, you are developing a pathway that is truly global in nature. It encompasses culture, politics, economics, and geography on a much larger and diverse base.

It opens up a much larger market of opportunity.

That thought process reduces risk and maximizes opportunity for your organization.

Standard Operating Procedures

Standard operating procedures (SOPs) become the cornerstone of compliance, process, and strategy. They glue everything everyone is supposed to do into a documents) that evidence knowledge, adherence, and practice within the walls of a corporation.

It is a management tool to prove that a company is doing what it is supposed to do.

It ties in personnel as to who, what, and how they are responsible for certain things and occurrences within any organization.

SOPs at the end of the day are the best method to evidence compliance. When tied into an audit trail ... is the nirvana of management doing the right thing.

Technology

Technology every year increases in relevance and importance in every aspect of business and more particularly in overall sales management.

Companies that pay attention to technology as a competitive tool, value add, and differentiator do better than those that don’t.

Today if you are not at the forefront of technology and its application in your business model ... and if you are not dead or dying ... you will soon be.

Technology drives most businesses today, and sales personnel need to be at the front-end of this capability in your organization in order to tout it to the prospects in turning them into clients.

Leveraging Opportunity

Opportunity must be sought out, and on an international scale ... the reach must be robust, huge, and complex.

Once opportunity is identified, it must be leveraged.

Internationally, opportunity:

• ? Can be found in overseas markets not often approached by other companies, such as in third world countries and developing nations
• ? In certain areas of European and Asian markets that are often not approached by other established international companies
• ? By differentiating your value adds to offer competitive advantage.

CASE STUDY IN LEVERAGING OPPORTUNITY

A U.S. based dog food company started to export products to a number of traditional markets in Europe and Asia. While some sales occurred, they soon found out that they had a lot of U.S. based competition.

As they explored alternative markets, they were provided numerous opportunities in the Middle East and Africa. In evaluating the risks associated with many of these countries, payment of receivables became a predominant concern.

When they approached their export consultant, Blue Tiger International (bluetigeriintl.com ), they were advised that there were several programs available where they could insure their foreign receivables in these countries. They would still need to be diligent in assuring credit worthiness, but this would seriously reduce the risks involved in selling to these countries.

After a year of successful sales to Saudi Arabia, Nigeria, South Africa ... they began to market to other countries in the region. Two years later, sales grew to 4.6 million annually.

They learned that a huge differentiator in these countries was their willingness to extend credit for 30-60 days. They found the insurance in place covering the receivable to be a big leverage in their ability to extend payment terms.

They still have a robust credit application and scrutiny process but are now being approached by other dog food importers and distributors in Africa and now some calls from South America.

At the end of the day, this company has leveraged credit insurance to be a differentiator in developing foreign sales.

Source: https://ebrary.net/316142/business_finance/best_practices_sales_sales_management_business_development