Business Development Triage
A guide to courageous prioritization in business development
By Mark Walmsley (mark.walmsley@vividlime.com)
Resources of time are finite and
no one in sales or new business
development can or should
pursue every opportunity that
presents itself. So how do you
prioritize?
Triage is the term used to describe the
incredibly difficult decisions that medics have to make when they know they can’t save everyone
at the scene of a major disaster. While it may feel like life and death at times, the development of
new business is of course not this serious. However, the concept of triage works just as effectively
in the business development and sales processes.
Most businesses do things that produce inbound business opportunities. They publish and
promote websites, send out brochures, advertise, take stands at exhibitions, talk and network at
conferences etc. Later on – sometimes very much later one ‐ the phone rings or an email arrives.
NDAs are swapped for RFPs, proposals are written and presented and business is won or lost.
Similarly, many businesses have an outbound marketing function. One in which dedicated team
members make direct contact with targeted prospects they hope are in need. Quite often the
outbound reach is at those who have been in contact as a result of earlier inbound marketing
activity so it’s not cut and dried.
Inbound works because the prospects have prequalified themselves as having a live need. They
know they are in pain and they are seeking a solution provider.
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Outbound works because pointing out pain and offering the solution can create a need and result
in alignment with a prospect, often at the expense of the competition.
Have Courage
Grant me the serenity to accept the things I cannot change,
the courage to change the things I can,
and the wisdom to know the difference.
Knowing when to walk away from an opportunity is essential and often very difficult. It might be
through a friend, in an exciting industry or attractive for any number of reasons. However, if it is
unlikely you will win the business or make money if your do, you must find the courage to say no
and walk away.
To help you decide if you should fight or flee, here is a step by step guide:
Business Development Step by Step (see below for outbound)
1. Is all your collateral in place?
There really is little point responding to inbound interest if you don’t have all of the
collateral ready that you might need in order to retain interest and move the conversation
along.
If you don’t have these items ready then you would be better off using the time to create
them. You will be much more successful with them later than without them now.
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a. Website
b. Brochure as PDF
c. White papers on key issues
d. Case studies across the service offering (PDF)
e. Decks ready to send
f. Credentials doc
Yes Go to 2
No Go back to 1
2. Is all your impressive connectivity set up and active?
Not all of your inbound interest will result in work straight away. In order to be front‐of‐
mind when the need emerges, you must maintain awareness, understanding and a
favourable perception sin your prospect base. There are two ways to do this:
a. contact all of your prospects directly and personally at least every 90 days.
b. Set up your social media profile so that your prospects can follow you
So you need those profiles set up. Again, if you don’t have this connectivity in place, set it
up first. It is unlikely to take more than a few hours.
• LinkedIn
• Twitter
• Delicious
• SlideShare (for your public slide decks)
• Box.net (for your public white papers etc)
• Blog (But only if you can write)
Yes Go to 3
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No Go back to 2
3. Is this organization and opportunity in a sector in which you can demonstrate
understanding, experience and success?
Yes Go to 4
No Forget it
4. Do you have a decision making contact name?
Yes Go to 5
No Get it or forget it
STOP!
At this point it matters if the opportunity is inbound or outbound. If it is inbound then go on to
5.
If it is outbound (i.e. you are just about to pick up the phone to make initial contact STOP!)
Do your research. Make it a smart call rather than a cold call by knowing your prospect, their
business and where there might be pain. Research your prospect in LinkedIn and Facebook. Is
there anything in their professional background that will give you something to talk about?
When you are happy that there is a good reason why your prospect should have a
conversation with you the pick up the phone. Keep in mind that some initial approaches are
best made via LinkedIn or by email.
5. Is there a live need you can satisfy?
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Yes Go to 6
No Forget it. Add it to your follow up process
6. Are you ‐ or are any of your colleagues/contacts – connected with someone at this
organization in any way?
Yes Go to 7 and flag this opportunity for immediate attention
No If this is a referral from a close contact then the connection is valid. If the inbound
enquiry was cold with no prior contact at all with the prospect then do not prioritize
it over other warmer leads.
7. Does the prospect have a written brief or RFP?
Yes Go to 8
No Fix a meeting immediately and take it from there.
8. Is there much/any competition? (Find out)
Yes Assess it. E.g.: If you are one of more than 5 agencies asked to respond in detail,
with creative, to an RFP with no budget indicated then forget it and Go Outbound
No Ask for the brief, RFP or try and fix a meeting and take it from there.
Do your homework before you write the proposal.
Good Luck!
Mark
Mark Walmsley has played the triangle at Carnegie Hall, toastmastered for British royalty and performed a very
dangerous stunt on live TV for the launch of a Batman movie. Only one of the above was unplanned! Mark is now
Strategy Director at Vivid Lime helping prospects and clients understand and use the emailie, digi new media,
information super highway interwebs etc.
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By his own admission Mark now spends far too much time thinking about what other people think. Not about him
you understand, but about how their perceptions, opinions and brand preferences are formed and changed and how
this understanding can be used to influence marketing and communications strategy for the good of the bottom line.
Email: mark.walmsley@vividlime.com
Web: www.vividlime.com
Blog: http://markwalmsley.wordpress.com
Decks: www.slideshare.net/markwalmsley
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