As the business world becomes more competitive, it is increasingly important to create a business development culture within firms. To achieve this, the whole firm must shift its focus from a culture of working “in” the business to also working “on” the business.
Everyone has a role to play in business development
The responsibility for business development shouldn’t just lie with your sales team or marketing team. Everyone has a role to play in developing new business for your firm. Every employee has a network of friends and associates. Perhaps some of those friends could become customers of your firm – you just need your employees to ask them for their business. You have to cultivate a business development mindset within your team.
Provide training and support
Business development skills can be learned and cultivated. With the right training, feedback and support, your people can learn how to go about effective business development. It can be useful to conduct regular meetings with your people in order to brainstorm ideas and reinforce the message that “everyone can help to bring in a new customer or two”.
Remuneration and reward
Ensure that your business has effective measurement, accountability and reward structures in place for business development activity. Perhaps you can offer a percentage commission to anyone who brings in a new customer. In addition, you can create objectives for each team member, which tie in with an annual bonus structure.
Ensure that you communicate the firm’s goals to all team members across the business. Give recognition to those who have contributed to the firm’s business development efforts and celebrate successes. Internal communication channels can also be useful to ask your team members for ideas. For instance, improvements that can be made in order to ensure that everyone is invested in the overall objectives of the firm.
A firm that creates a culture of business development won’t have to rely on a few “rainmakers” to feed the entire business. Instead, everyone can play their part and benefit from creating a client focused firm. A firm in which everyone can contribute to the success of the business and be rewarded for doing so.
What do you need to do to create a business development culture within your firm? We can help! Give us a call on 01332 292022 or drop us an e-mail to firstname.lastname@example.org. Or, if you know someone that needs help in their business send them a link to this article! We love to help businesses grow.