Each leader in business development has their battles. However, some business problems are more common than others; sometimes, you’re not the only one facing a problem. There are no precise scales to measure any small business problems and solutions; however, many leaders and corporate institutes can help us develop business development skills to face any challenges.
With our Market Development experience, we have discovered some of the significant issues facing today’s business leaders. Incorporate their advice to help you solve issues ranging from attracting the right talent to effectively learning how to sell through social media.
What are The Challenges of Business Growth?
There are seven major Common Business Development Challenges according to business giants.
1. Cutting Through The Clutter
We live in an age of overloading information. We’re bombarded with emails, text messages, posts on social media, news breaks, and lots of noise. I agree that the most significant challenge in business growth is finding out how you can cut through the noise. My advice is to ensure your message is worth listening to. If it isn’t, success would be more complex. – Adam Mendler, The Veloz Group
2. Building The Right Team
To grow your business, you must ensure you have the right team. There is only so much that you can know about a person through social media or a resume. Using personality evaluation tools can help you recognize a person’s characteristics that you can not define in an interview or on a piece of paper. And when you have the right team, will the community evolve as it should? – Christian Valiulis, Automatic Payroll System
3. Navigating Our Connected World
One major challenge we face is a lack of awareness and understanding of how social media and online platforms can play a prominent positive role in the selling process. The most helpful advice I’ve got is to seek a mentor, take a class, or join a group to learn how to use social media as a resource. That’s what I’m doing, and I find that extremely successful. – Clinton Senkow, Influencive
4. Finding Validated Leads
To me, the most complex and expensive aspect of business growth has always been the search for new, validated prospects. However, today we have to deal with more competition, fewer face-to-face encounters and mobile calls, more educated customers, and purchasing habits that change quickly, sometimes over months rather than years. Staying diligent and educated is crucial to continued progress. – Jen Tadin, Gallagher
5. Acquiring And Retaining Talent
A successful company’s main problem is always attracting and maintaining good talent. I’m just searching for people who’re content with what they’re doing yet open to a new challenge. It removes any future workers merely searching for “employment” and helps find people seeking a “career.” – Nathan Hasse, Simpatico
6. Gauging Client Responses
Sales have to strike a balance between maximum coverage and overkill. We’re training the sales team to “read between the lines” with customer feedback and respond accordingly. Our leaders collaborate with them to map a client’s company and understand how to act in its community. Timing is what it takes. When a customer is not receptive, salespeople should be cautious and return to employ a new viewpoint later. – Shailendra Singh, MarketsandMarkets
7. Time Management
The sales leaders must handle the limited-time resource. There’s a tendency in a digital environment for prospects to lean on emails or calls that often contribute to longer sales cycles. Yet I repeatedly see that face-to-face meetings lead to dramatically better outcomes, so do whatever it takes to have a face-to-face meeting ASAP. A desire to meet is indeed a great chance qualifier. – Gregory Kim, Slickdeals