Three Most Effective Ways to Develop New Business

December 11, 2009

1. Know Your Target Markets – If you’re in business for yourself, you should be working for people you love. One of my  target markets is CEOs. I admire CEOs unceasingly. These people live risk day-to-day. They have made the commitment to climb into the driver’s seat and put it all on the line for their customers. They have deep understanding of their business, the local and global situation they operate within, and every aspect of their organization from talent to revenue to governance to customer need. CEOs possess the intellectual firepower that enables them to deal creatively with both chaos and opportunity. I love CEOs.

When I say you must get to know your target market, I mean you must love them. That’s the best way to serve them. When you see the world through their eyes, you start to hunger for the same things they hunger for and you become involved in helping them achieve their aspirations.  That is where business opportunity is born.

2. Create Authentic Value – Focus on creating what your people want. When you are walking in their shoes, you get a good idea of what makes them tick, what they are looking for, what they want most. Then, you can go about building it.  When you get good at this, you have cracked through one of the paradigms of marketing. You have shifted from getting-people-to-buy to creating something-worth-investing-in. This will open the doors to new business.

3. Communicate Your Offering Unambiguously – Imagine you are in the desert with a group and everyone is thirsty. Someone finds a well. Do they beat around the bush to tell the others? No, because they know in their gut that what they found is what the others are looking for. Once you are clear about what you have to offer, speak about it clearly. Put your cards on the table. Help people understand what you have to offer.

There are those who won’t like you or your offering for reasons you cannot control: they are having trouble digesting their last meal, the family dog died yesterday, they don’t like men who wear earrings (that’s me). You won’t reach them. Others you speak to are already on your side – they are the choir you preach to regularly. You don’t need to reach them either. Yet, there is another group that is genuinely trying to figure out if what you have is what they are looking for. Communicate to them as clearly as you can so they can make up their minds whether or not to do business with you.  If you have done 1 and 2 above, there will be a line to your door.

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