How to win new business

We all have to pitch for business, regardless of whether we are in startup land or an established firm. Without new business we die. Pitching can take the form of gaining new retail outlets, signing up memberships, raising capital or even just getting added to preferred supplier list. It’s all selling, and more often than not we focus on the opportunity event, yet this is the exact opposite of what we ought do. Sure, we will win some business this way, but it’s how the amateurs do it. The way stars win business is by implementing the following stealth techniques.

Be the resource: We should start being an active resource for the company or person we hope to do business with. Simple things like providing industry data and insight which will be of value to them. Provide connections and contacts which are of no value to us, but them. Link them up with others who can and will help them. Help them fill job roles. Make presentations to their employees. Come up with ideas for them and share them without asking for anything in return. We must demonstrate that their business is top of mind, and we care about their success.

Start working for them: Don’t ask for a brief or an order, just do the work. Small pieces, with no return expected. We’ve got to pay it forward. It could be providing some free product they can sell, or service pro bono. It’s what consumer goods companies do all the time. It’s called sampling. Why more startups and businesses don’t do it is beyond me. It’s one of the most effective marketing tools there is.

Invent a reputation: Yes, invent it. Reputation is invented, and the best way to do it is to have an opinion. The way to share our opinion is by speaking and writing. This is what gets us the attention and generates business. It’s not the  other way around as most people believe. We must position oursleves and brand as thought leaders. How? We need to put our hand up to speak at events, start writing and self promoting. Impassioned words are attractive, and people want to do business with passionate people. It’s also a good idea to have a radical opinion, sure this will alienate half the market, but we can’t serve everyone anyway. Better to have half of the market love (hate) what we stand for than be overlooked.

Develop relationships before the business is up for grabs: Most people, and companies are competent. Widgets can be made, and there’s a very good chance someone can make or do what we do just as well. In this instance the business always goes to the nicest bunch of people. It doesn’t sound very strategic but it’s how the world works. This is the way we avoid competition. By being the guys who cared well before the budget was approved. It’s a massive point of difference.

When we do this, human instinct takes over and it’s just a matter of time before we generate loads of business.

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9 thoughts on “How to win new business

  1. Good article that thankfully doesn’t contain all the guru ‘how to sell bullsh*t’ I am sick of reading 🙂

    Julian (@juliancarter via twitter)

  2. Thanks, Steve. Your short blogpost has helped to crystalise some of these ideas that I have been exploring. One of the things that I’m learning learnt lately, when it comes to this stuff, is the importance of authenticity. There’ve been some occasions when people have got in touch with me to share information and resources, but it’s somehow missed the mark. And I think this has happened because they haven’t taken the time to get to know me and what makes me tick. And so, in these cases, it has sometimes come across as contrived. On other occasions I have been sent links or information or ideas that have been right on the money. It’s worked because the communication had the spirit of generosity, of sharing, and genuineness.

    When I take on work to pay it forward/provide free sample etc, I always make sure it’s something I have a genuine interest in, or fascination with. That way, regardless of whether it leads to more work, I come away feeling that I’ve done something worthwhile, and that there’s been a reward there. It makes the exercise easier because I don’t feel like I have to try too hard, or pin my hopes too much on a desired outcome.

  3. Hey Ryan, thanks for such a thoughtful comment. Your words really added something to this entry – Authenticity & paying it forward.

    Cheers,
    Steve.

  4. Business is not just mainly for gaining profit but because we are to contribute something for the growth of the economy. The given techniques are just one of the very helpful ways to come up with a starting successful business. Business consulting will help in business specially in a new one, for the business to learn some strategic techniques on how it will grow faster in the economy.

  5. To get more business you need to be perceived as the expert in the field. You must be the top of mind for those who are looking for the kind of service or product you are offering. It is not an easy thing to do, but definitely worth all the effort.

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