How to do great business development when you don’t have the time to spare

For many busy businesses, business development (BD) often falls to the bottom of the priority list.

While most business owners know that they need to invest in growing their business and engage in business development activities, time constraints, and a multitude of competing priorities can make business development one of the first tasks to be neglected.

So, how can you effectively engage in business development when time is limited?

The importance of planning

When working with clients, one of the first areas we focus on is creating a comprehensive business development plan and a set of clear objectives to help guide their business development efforts.

Business plans and objectives will vary by business type and sector. For example, in a facilities management business, there are often various sectors and workstreams that could be pursued to generate new opportunities.

Without a plan and objectives in place, many businesses lack the structure and focus necessary to direct their efforts effectively.

Your business development plan should be directly aligned with your key business objectives and clearly describe the following:

• Target market/s
• Types of people/job roles
• Their problems
• The solutions you provide

A simple and clear business development plan can make a significant difference.

Have a process in place

Effective business development is as much about having a structured process as it is about the activities themselves. When we work with SMEs and business owner-managers, we focus on establishing good business development practices by helping them develop the right processes.

It’s essential to work with individuals within the business to help them allocate time, implement a consistent process, and maintain the discipline needed to focus on the right activities that will give the desired results. The approach will differ for each business and individual, so a coaching-style approach is often the most effective way to establish a working method that suits each person and sector.

To build an effective process, we recommend you:

• Be disciplined
• Set time aside
• LinkedIn: make it a habit to check LinkedIn at least every other day. Connect with individuals in your target market and engage with relevant content. LinkedIn’s algorithm will suggest people and content based on your interactions.
• Follow-up: don’t just send a proposal and wait. Schedule time to follow up with a call or email to keep your proposal at the forefront of the client’s mind.
• Referrals: do you know who is referring you work? Are you identifying and nurturing those key relationships? Click here to read our top tips for managing referrers - Tracking your referrals and introducers — Stephen Alexander

Marginal gains

Making time for business development can seem daunting, but starting small can return significant results. For example, committing to just 15 minutes of business development activity per day four times a week. Over the course of a week, that adds up to an hour of focused business development activity, which could make a substantial impact.

To optimise those 15 minutes each day, consider breaking the activities into manageable tasks such as:

• Following up on a proposal
• Engaging with LinkedIn connections and content
• Contacting a referrer
• Speaking to an existing client to see if they might be interested in your other products or services

Celebrate your successes – no matter how small

Recognising and celebrating success is important both for you and your team. While it’s natural to celebrate big wins, don’t forget to acknowledge the smaller victories too. Recognising the right behaviours reinforces them, and over time, they will become habitual.

Consider celebrating the following achievements:

• Has a team member been active on LinkedIn, engaging with clients and prospects, and commenting on their posts?
• Have you contacted three referrers this week?
• Has a team member reached out to an existing client to discuss other products or services?

Don’t be afraid to bin it if it isn’t working

It’s essential to regularly review your business development efforts. What is working well, and what isn’t? If something isn’t giving results, don’t hesitate to stop and try a different approach. Business development is about finding what works for you, your team, and your business.

Our practical hints and tips

• Set aside time to plan: define who your ideal clients are and the solutions you provide to their problems.
• Put a process in place: establish a structured approach to business development activities.
• If you are struggling with time, do a little as often as you can: even just 15 minutes 4 times a week can have a significant impact.
• Celebrate your successes: acknowledge both big and small wins.
• Don’t be afraid to stop something that isn’t working: be prepared to stop and try new approaches.

At Stephen Alexander, we offer tailored support for your business development needs, ranging from hands-on assistance and strategic advice to bespoke business development training. To learn more, speak to Alex Footman or Stephen Timmins