Business Development Planning for Firms

Create a business development process

As soon as professionals find out that creating a business development process is integral to revenue growth, they immediately ask the question: “So how do I create one?”

1

Don’t Rush Into It

There’s often a sense of urgency, a desire to have the BD process up and running as soon as possible. This enthusiasm is fantastic, but it’s important not to rush just for the sake of getting started.

2

Getting It Right

Your BD process is the core of your entire sales strategy – it will influence how productive your employees are, increase accountability across the organization, foster greater pipeline accuracy, and a myriad other benefits. It will therefore take time to get right.

3

Target Market Buying Decisions

In order to develop a highly effective sales process, there’s one thing you need to do before you start putting it together. You need to explore how your target market is making buying decisions.

“It’s one thing talking about a sales process, but did you realize that all clients have a buying process?” says Alex Chan, Global Head of Learning at SalesStar.

“Understanding the buying process is a necessary action for sales process success.”

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4

Your Client’s Buying Journey

In fact, according to our research, of the 18% of companies that report a significant increase in sales, an impressive 82% had accounted for the buying journey in their sales process.

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How do you map out the buying journey?

Here are some questions to consider:

What trigger events (pain points) created a new space or facility?

What pain points do you solve for your prospects?

Where do your prospects look for your services? For example, word of mouth, trade journals, blogs, websites, or networking events?

How do they find out about you and why would they choose you?

How can you get shortlisted when they are in the consideration stage?

What do your prospects base their decisions on? And how do they make decisions? For example, a lot of companies make decisions by committee (naturally, this will influence how you present your solution).

How do they like to be sold to?

Will your customers require free examples of your service?

Buying Process

Understanding your target audience’s buying process will help you to determine whether they qualify or disqualify as a potential lead.

“You need to think through their whole buying journey, and then once you’ve mapped that out, you can start mapping out your sales process to match it,” says SalesStar Founder and Group CEO, Paul O’Donohue.

Don’t Skip the Buying Process Reflection Phase

Many business owners skip over the buying process reflection phase and rush straight into the ‘doing’ phase, in search of solutions and results. But it’s your ability to think deeply about your target audience that will deliver you the best outcomes.

Discovering Pain Points

“You need to discover their pain points and understand what is required in order to motivate them,” adds Alex.

“Our clients tell us that as soon as they discover their customer’s pain points (usually around phase 3 of the sales process), the probability of closing the lead suddenly jumps significantly.

There’s a direct correlation between understanding your customer’s needs and being able to close a deal.”

For Best Results

For peace of mind that you are heading in the right direction, it’s a good idea to recruit a sales process expert.

Your sales process is far too important to ‘figure it out as you go’. Bringing an expert on from the beginning will ensure it gets off to a great start, saving you time and money.

The expert will also be able to ask you tough questions, leaving no stone unturned, so that by the time you enter the sales process development stage, you’ll be ready to refine your steps to perfection.

Research First, Act Second

So in summary: research first, act second. It’s not enough just to create a sales process – you have to have a strong understanding of your target customers before you make a start.

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Results You Can Expect

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"50% topline growth"

"In the last several months we've exceeded our goals each and every month by approximately 50% of our monthly goals. But more importantly, is that a higher percentage of new sales now are with new clients, that was one of our goals going into the process."

"Tailored to our specific needs"

"What I liked most about working with SalesStar, is that it's not a cookie cutter approach to selling. It's really tailored to our specific needs. We can break off if we have a target that we're really actively pursuing. We can turn on a dime and really focus our efforts on achieving our goal for that week. But also continuing to keep the long-term vision in play."

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"Doubling of our revenue"

"In the last several months and we are on tap to have a doubling of our revenue for 2022 over 2021. We had set some goals in 2020 & 2021 of increasing our billings and our revenue and I can say categorically because of the training and guidance we received from SalesStar, we have had our largest billing month in the history of the firm."

Here Is An Example Of The Results You Can Expect To Achieve With Your High Performance Coach:

If you’re wondering if we can actually help you make your firm more profitable, just take a look at the numbers our clients typically achieve.

Average results in the first year of coaching, according to our coach reviews:

+ 0 %

RFP Conversions

+ 0 %

Projects’ Net Profitability

+ 0 %

Month On Month Revenue

+ 0 %

Revenue Per Employee Within 24 Months

We've helped over 600 business owners make $1BN in Profit

And we can do it for your Architecture business too. Take a look at these videos from some of our Boardroom members to hear for yourself the impact Boardroom has on their businesses (and their lives!)

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Gene McHugh

“In the last several months we’ve exceeded our goals each and every month by approximately 50% of our monthly goals. But more importantly, is that a higher percentage of new sales now are with new clients, that was one of our goals going into the process.”

Play Video

Brent LaCount

“What I liked most about working with SalesStar, is that it’s not a cookie cutter approach to selling. It’s really tailored to our specific needs. We can break off if we have a target that we’re really actively pursuing. We can turn on a dime and really focus our efforts on achieving our goal for that week. But also continuing to keep the long-term vision in play.”

Play Video

Ray Manning

“In the last several months and we are on tap to have a doubling of our revenue for 2022 over 2021. We had set some goals in 2020 & 2021 of increasing our billings and our revenue and I can say categorically because of the training and guidance we received from SalesStar, we have had our largest billing month in the history of the firm.”

Start Growing Right Now With These Free Resources

Here are some free resources to show you just how committed we are to helping you succeed.