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What's your new business plan for today?

FoxHuntDrew McLellan is the Top Dog at McLellan Marketing Group

Most businesses really gear up their sales/new client hunt about the time their biggest client walks out the door. 

There’s a dangerous place for any business.  It’s called – just fine. That sense of complacency when things are good can lull a business leader into thinking that the “just fine” that exists today is a permanent condition. 

Which of course, it is not.

One of the fallouts from the recession is that decision makers (whether it’s a mom or a procurement officer) are saying yes much more slowly. We exist in a tentative world right now. Whatever your normal sales cycle – you’re probably experiencing at least a 25-40% delay in closing the deal.  All the more reason for every business out there to be trying to front load the sales funnel long before their sales start to slip. 

I can hear you now – but we network like crazy and we get lots of referrals.  All of that is great. And you should keep doing it. But it won’t be enough.  Most businesses grossly underestimate what it actually takes to get a client.

Sales and marketing are numbers games. But most businesses never bother to run the numbers. You need to understand your own sales cycle. How many presentations or inquiries do you need to move people to being a hot prospect?  What is your close rate?  How many months does it take to move someone from interesting to the point of purchase?

It will matter if your product or service is $10 or $10,000. Another factor would be the longevity of your product. Do I need one every week or every decade? Do you sell a niche product? Are you the market leader?

Regardless of the variables – I’m hoping the point hasn’t been lost. Even if the above equation isn’t precise, it does illustrate that you need to be chasing new business every day.

Even on the days you don’t need it.  That’s the only way it will be there on the days that you do.

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