Creating Your Own Business Upturn – Powering Business Development

We all see it . . . business markets are trying hard but continue to be flat, easily scared, and “frozen in the headlights,” – – – primarily maintaining, and definitely not building. Workforce attitudes suffer from a steady flow of negative global and economic events, career disappointments, and the constant threat of being laid off. Customers are struggling to identify their path forward, which in turn makes it even more difficult for any business to determine their own plans for the future. The fear of post Enron scrutiny on business leaders and organizations is ever present. When will the “upturn” come?

In response, it seems companies are moving forward on the back of very conservative and “tactical” decisions and day-to-day activities. Why? Because they are much safer, and not as likely to be second-guessed. “Winning big” has become much less of a focus than not losing big! Unfortunately, tactical approaches focused on day-to-day survival versus a bigger picture do not prepare companies for the future, nor do they capture the immense value that is inherent in times of great change, uncertainty and disruption. And the longer this goes on, the more steep and slippery the slope on which they reside becomes! But again, when will the “upturn” come?

Sad news . . . the general upturn that many are hoping will arrive to “save them” is not coming. It will be up to each and every company to uniquely and quickly use every part of the current business environment they face to literally create their own upturn!

For a company to create and continuously advance their own business upturn, they will need to amass the full knowledge, talent, experience and capabilities of their organization and in certain cases introduce some outside influences to:

· Identify the “what, where and when” of their current environment while

· Simultaneously identifying “exploitable discontinuities” and related new mountain tops for the future, and then . . .

· Develop short, mid and long-term commitments and plans that tactically harvest the most out of today without compromising placement for success tomorrow.

Below are some steps that can help companies quickly accomplish this:

1. Identify the “upturn team” and include:

· “Quiet leaders”, “unsung heroes”, and possibly a “cynic” or two.

· Those involved with the current situation at a management / tactical level.

· New employees (and especially those from other industries or companies).

· Business development, market research, “future minded” personnel (internal or external).

· Those who are feeling the most “stress” from the current circumstances such as:

· Functional leads

· Strategic management

· Vendors who supply clients

· Customer support/feedback centers of knowledge

· Financial stakeholders

2. Challenge the “upturn team” to fully:

· Define and validate the current conditions with facts, not anecdotal conclusions.

· Identify and understand the conditions that drive the current situation.

3. Analyze the causal source of the conditions, their interrelationships, and identify patterns, trends, future “points of change” and impacts, potential market “backlashes”, new opportunities, etc. and focus on the “critical few ” items that will have the greatest potential to create upturn value.

4. Brainstorm and develop “value scenarios” that optimize the near and medium term with a view toward maximizing the long term.

5. Coordinate value scenarios with infrastructure development plans and financial capability to identify and eliminate “barriers to success” and validate return on investment before beginning.

6. Communicate the vision and the tactical details as they apply to each participant to create a constant “call to action” for successful implementation.

7. Compliment and encourage what people start, and enthusiastically celebrate what they finish!

Fear, uncertainty, and lack of ownership often inhibit participation, creativity and expression of thoughts and ideas. It is usually beneficial to utilize internal or even external facilitators to overcome these concerns. In so doing, companies often find they have created a “process” for thinking strategically AND tactically to ensure the “upturn” created becomes a company way of life, versus a one-time event!

Copyright 2003, PBK Communications. All rights reserved.

Business Development is a Requirement

There are many business organizations dealing in today’s world, and none of them are working to run losses. How is it that they survive in this cut throat market and ongoing competition? The answer to this is simple; business development programs are the ones that put any particular organization on top of the business charts.

Any and every business organization has to cope with the market that is never stable and undergoes many changes, so the basic and the most important idea is to stay up to date with market conditions. Meaning that you don’t give your consumer a chance of going to your counterpart as this might result in losing out on precious and potential consumers. So in this long process of business development you are said to communicate, administer and plan so as to have a superior business development for your firm.

A very striking and successful business management plan requires a well-planned approach towards your goal, but there may be an obstacle in your path, your stress level. Working on this elevated competitive level, an approach that is well planned will have beneficial results. The people that are working in the line of business development programs are normally people appointed professionals, managers and employees that work for company’s goals. They strive towards excellence and taking it to new heights by getting high profits for the company in this highly competitive market. However the people working in this field are often stressed and this would be a great barrier in their pathway of being highly productive. The extent of pressure and tension that this people carry is tremendous and for this they require regular stress management programs that consists of hypnosis, relaxation etc.

In a business world, stress is a must where it reflects your approach towards your goals and the amount of pressure you have taken in order to reach new heights. But too much stress will give you nothing but a reduced output.

For a stressed mind nothing is of great value t as compared to peace of mind that had been lost in the process of working till the limit. There’s only that much that anyone can push themselves till. Hypnosis can help you reduce stress levels and regain your past composure, zeal, enthusiasm and foresightedness. Alongside it will enable you to recognise new opportunities. Hypnosis is an age-old art that can help relieve of reliving a stressed mind and mould it back to perfection. It will make you creative and productive as compared to your stress prone days. Soft music hypnotizes your mind and allows it to calm down.

There is no need for you to go looking out for hypnosis treatment, as it is made available for you in the form of mp3 on the Internet where you can download the contents and use it to the fullest extent for your cause. Once you use this mp3 download content you will realize that you are as efficient as before. This way you will be able to make effective business development strategies that will have highly satisfying results.

How Public Relations Can Improve Your Business Development

Planning, Developing and Executing your business strategy should always include Public Relations. Public Relations by Webster’s definition is the business of inducing the public to have understanding for and goodwill toward a person, firm, or institution; also: the degree of understanding and goodwill achieved. With today’s focus on transparency and the use of technology to search for products and business, it is vital to business development, that a company maintain goodwill and understanding.

In health care we have used the same methods of public relations for decades (Newspapers, magazines, flyers, newsletters, radio advertisement, billboards, and TV). Media today includes numerous online methods and blogs. Communication is almost instant. Negative Public Relations can be a disaster to a business and destroy its credibility in the market place. Utilizing the appropriate tools for positive public relations on a routine basis can help build a foundation for any company to fall back on during damaging times. Hypothetical example: Have you ever watched the news and seen a business under attack for an honest and genuine mistake? Wonder what that mistake cost? How they would fix it? Question how it happened? Negative Public Relations destroys a company’s reputation and identity.

Business Development is a company’s strategy for marketing, branding, and selling its product for an operational gain. When I evaluate a company’s business development plan I am focused on three primary areas: Market/Marketing, Information Management, and Customer Experience. Only assessing one or two of these areas can lead to inaccurate data and results. All three are needed to determine the best route for success. Evaluating these three areas will allow for you and your business to identify your customer or market, decide what information is needed, and how you would promote a positive experience. Example: In health care, our client, customer, patient needs a service. Knowing what they specifically need allows us, the company, an opportunity to provide all the information so they can make an informed decision. After the service has been provided we use tools to calculate how well we provided a positive customer experience.

Public Relations (PR) has a new look! In 2012 we will see social media platforms establish a stronger presence in many business development plans. Getting your brand to market and establishing goodwill in your community can and will give your business the competitive advantage, help to mitigate risk, and allow for transparency to the public. A strong Public Relation campaign will improve your business.

Allocating Time for New Business Development: Just One of The Challenges Facing Busy Entrepreneurs

How do you allocate time for new business development? It’s the bane of many entrepreneurs and small business people. “I am so busy with my current projects that I don’t have time to drum up new business.” I know exactly what they’re talking about. I remember a period where I had so many writing projects on the go that I did no marketing. I just waited for the business to come in. The problem is that unless you market yourself, the business can slow to a trickle, regardless of the previous complaints that you have:

  • Too much work already
  • Not enough time to do anything else
  • Not enough money to spend on proposals that may not pay off

I completely understand. Understanding, however, doesn’t get you anywhere, so let me make some suggestions to keep the business coming.

The first suggestion is that you dedicate some time to new business every day. It need only be half an hour, but whatever time segment you decide on, lock it in. Just put everything aside, hold your phone calls, shut down the cell and leave your e-mail alone. Next, do the following. Get yourself one of those small digital timers, punch in the time segment you’ve chosen, then, turn the timer away from you so you can’t see it. Now, focus on the work at hand.

During this time segment consider what new business you want to get into, or actually work on a new business proposal. What you might also do, and this will impact your own staff, is get the staff to join you in your sessions; and plan a session at least once a week, and brainstorm new ideas. Who better than your own staff to carry out this activity in search of new business? And encourage them to look for business opportunities that you may be unaware of through networking, or contacts they have with friends and associates. Even submit a speculative or unsolicited proposal to a client.

Here’s an idea I really like. It comes from Verne Harnish, CEO of Gazelles Inc, an executive education firm. Verne suggests that you should stop eating alone. Verne’s experience is that in one year, living in Barcelona, he built deeper business, social, and political connections than in ten years living and working in Washington DC. What could you do if you were to meet someone different even a couple of days a week? You might not generate new business immediately, but the payoff down the line could be substantial.

I understand that cash flow can get in the way of such activities. I appreciate that the current projects you’re working on have stringent timelines. In fact you’re probably working a 60-hour week. But don’t let that get in the way of allocating time for new business by pursuing practical ways to make it happen, even on your busy schedule.

Abstract: Busy people often get too busy and fail to continue marketing themselves. Small businesses, like consultants and training companies, often find themselves in this situation. This article looks at the issue and suggests some practical solutions. It’s up to you to follow up on them.