You walk up to a product that you've seen elsewhere in a comparable department store and look at price and you're very pleasantly surprised. It's same price as at other store so they think they're getting a bargain.

Example 4 - Consulting Firm

Then there's a masterful strategy that one of my clients in consulting profession implemented. Their firm focused on consulting to other professional service firms. They found that there was a certain type of client that they had most success with and were most pleasurable to deal with.

Given that, they decided to have a qualification or client selection process in that potential clients needed to qualify before they became a client. They needed to meet a dozen or so criterion based on attitudes of partners, firm profitability and size and marketing focus.

The result was that they were inundated with firms who wanted to qualify or mould their practices so they did qualify.

Example 5 - Dentist

By now, everyone has probably heard story of Paddi Lund, a dentist here in Brisbane. He has built his practice up on referrals. In fact, you can only get into his surgery if you're referred by another patient (or guest). As you can see, there's merit in madness. This "scarcity" mindset can work to your advantage if applied correctly. Having said that, if you want to adopt it into your marketing efforts it's vitally important that you don't simply pay "lip service" to it. What I mean is that "scarcity" that you are promoting must be genuine. In other words, you must genuinely have a qualification process that rejects xx% of prospective clients.

Metrics are powerful, knowing your average proposal duration, average time in opportunity, and other business development related measurements can improve your sales processes. At least document dates pertaining to original RFP presentation, proposal due date, and any meeting relating to changes in proposal. Making these, dates show prospects you are serious about doing work for them and reflect on your ability to be available when it comes time to perform.

6. Use an opportunity management system that correlates with your project management system.

By managing opportunities in one place you can more carefully follow up on your prospects individual needs, develop figures pertaining to cash flow, and can keep information organized until it is passed off to a program manager. This system could be as simple as a couple of file drawers, job folders, or as complex as a sales management package on your computer. Pick what will work best for in your business, then learn how to use it.

7. Track every phone conversation, verbal promise, and offer for information. The notes you take within your opportunity management system will help you review your understanding of prospects needs, capture facts related to deal, and go further in a dispute than anything else you could save. Each note should focus in on facts noting any promises, requirements, or individuals involved. Choose a method of tracking that is as clear as possible, since you might not be only one to read information stored.

Too many times I will bring qualified work to a client, after a week I will follow up to see how proposal is coming along. To my amazement, a company that needs more business is “too busy” to finish a proposal, yet alone contact prospect and let them know they are interested. No wonder so many companies depend on third party business development people for long term growth, not just usual priming of pump.

What makes these guidelines so special? Face value they do not seem very interesting, but I can tell you they are seven guidelines successful companies I know are using to close proposals. They should be your guidelines for improving your business development whether you have an internal team or you are hiring out. Now get out there and make business happen!