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Acquire New Business

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  • Acquire New Business

    A major part of keeping profitable and growing your business is maintaining a focus on business development. Even when you've got the right mix of work, clients and employees you should be looking for new opportunities. You could establish a process to do this whilst ensuring your existing customers don't get neglected. The process helps you manage new business opportunities in a cost- and time-effective manner.

    Generate leads

    Identify the types of companies you want to work with and a realistic number of companies you want to target over a given period of time. For example: an accountant with experience in the marketing industry might decide to target five opportunities per month focused on marketing consultancies.

  • #2
    Finding potential clients and identifying new opportunities can be done through networking events, tenders listed in newspapers and industry magazines and headlines in newspapers about new projects and industry seminars. Keep an eye on your industry and stay aware of new developments.

    Track the companies you approach in a database (you could use Microsoft Excel or Access). Tracking should cover the obvious things (company contact details etc.) as well as details of what was discussed, potential works, actions and more.

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    • #3
      Qualify the leads

      Once you have a list of identified companies you must review to ensure they are real opportunities. Some areas to think about include:
      • Do you have the right contacts to get started?
      • Do you have the right services to offer them?
      • How can their website help you understand them better?
      • Do you have any conflicts of interest in pursuing this company?
      • Does this client have growth potential or would it be a quick job?
      • Who makes the decisions? How can you reach them?

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