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Business Development Strategy and Tactics Article:

...... a decision will be made, and what you can do to be the company selected.

5. Monitor your calendar for important dates, proposal reviews, and all key events relevant to the opportunity.

Metrics are powerful, knowing your average proposal duration, average time in opportunity, and other business development related measurements can improve your sales processes. At least document the dates pertaining to the original RFP presentation, proposal due date, and any meeting relating to changes in the proposal. Making these, dates show the prospects you are serious about doing work for them and reflect on your ability to be available when it comes time to perform.

6. Use an opportunity management system that correlates with your project management system.

By managing opportunities in one place you can more carefully follow up on your prospects individual needs, develop figures pertaining to cash flow, and can keep information organized until it is passed off to a program manager. This system could be as simple as a couple of file drawers, job folders, or as complex as a sales management package on your computer. Pick what will work best for in your business, then learn how to use it.

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7. Track every phone conversation, verbal promise, and offer for information.
The notes you take within your opportunity management system will help you review your understanding of the prospects needs, capture facts related to the deal, and go further in a dispute than anything else you could save. Each note should focus in on the facts noting any promises, requirements, or individuals involved. Choose a method of tracking that is as clear as possible, since you might not be the only one to read the information stored.

Too many times I will bring qualified work to a client, after a week I will follow up to see how the proposal is coming along. To my amazement, a company that needs more business is 'too busy' to finish a proposal, yet alone contact the prospect and let them know they are interested. No wonder so many companies depend on third party business development people for long term growth, not just the usual priming of the pump.

What makes these guidelines so special' Face value they do not seem very interesting, but I can tell you they are the seven guidelines successful companies I know are using to close proposals. They should be your guidelines for improving your business development whether you have an internal team or you are hiring out.
Now get out there and make business happen!

About the Author

Justin Hitt a business development
consultant; helps companies earn more
profits. Also, author of "101 Strategies
for more Profitable Customers",
available now in PDF. Learn more by
visiting http://www.justinhitt.com/

Hopefully, you are now somewhat better informed about Business Development Strategy and Tactics.