I have reached out to some of you and asked for key topics that you would find useful to apply in your sales teams and organisations. Thank you so much for your answers!
One question was how to find new business opportunities ?
While I do not have an easy magical answer, my go to in finding new opportunities is to look at major business shifts or compelling events.
The key is identifying and capitalizing on opportunities that have compelling events.
As sales leaders and salespeople, your focus should be on recognizing the compelling events that drive your clients' business and discovering ways to offer value and meet their needs.
In this week's newsletter, we'll discuss 11 compelling events that you can leverage, and how you can identify the unique enterprise opportunities that exist within each.
1/ Compliance:
Regulatory changes and compliance requirements can have a significant impact on a business's operations. Look for opportunities to provide thought leadership on current trends in your industry. Provide consultation services, compliance software solutions, and other related products.
2/ Restructuring:
Businesses frequently undergo restructuring exercises to improve efficiency and profitability. This could be an opportunity to offer change management services, project management solutions, and programs that will align to the goals of the restructure.
3/ New Markets:
Companies often look to expand their offerings and enter new markets to remain competitive. This creates opportunities for you and your team to provide your products and services to help your clients capitalise on these new markets.
4/ Transformation:
Similar to restructuring, transformational initiatives aim to modernize and improve the way a business operates. Look for opportunities to offer your products and services that can help your clients achieve their transformational goals.
5/ New Leadership:
New leadership can signify a shift in priorities and initiatives. This could be your chance to offer your products and services to the new CEO or leadership team. Create a new relationship matrix and map your current initiatives and where you can add value or introduce new initiatives.
6/ Strategic Initiatives:
Companies often have a range of strategic initiatives, such as cost reduction or lean management. Look for opportunities to offer solutions and services that can help clients realize these objectives. These can be consolidation of vendors ,cost cutting initiatives or launch new products.
7/ New Business Deals Won:
Businesses often sign new contracts and deals. This could be an opportunity to expand your solutions to help them retain and grow their customer base.
8/ Mergers and Acquisitions:
When companies merge or acquire other businesses, there's often a need for a range of services, from due diligence to organizational restructuring. This is your chance to offer services that cater to these needs.
9/ Global Phenomena OR Trends:
An example is the global Covid pandemic. It has disproportionately impacted businesses in different ways. Look for ways to offer your solutions in a different package or structure, such as new revenue models that can help companies adapt to the new normal. Where can you align your business ?
10/ New Products and Services:
When companies launch new products and services, they need support with their current vendors and partners. Understand how your solutions can help your client's businesses drive sales and growth with their new products and services.
11/ Changing Products and Services:
When companies change their product and service offerings, there are changes that creates opportunities. For example, for new products, they need to retrain their sales teams and marketing efforts. How can you deliver value when that happens? Is there an impact on your partnership?
Spending time with your clients by asking the right questions, identifying the unique challenges businesses face, and offering value-creating solutions, sales leaders and salespeople can be instrumental in helping businesses succeed.
Focus on what you have to offer, how you can provide value, and the positive impact your products and services can deliver.
Let me know if any of these 11 compelling events align with you and your clients.
I will leave you with Seth Godin's Quote.
Thanks for reading, I appreciate you!💜
Ren
Ps Next week I'll share learnings from the conference.🙌