{"id":2462,"date":"2023-07-14T01:55:00","date_gmt":"2023-07-13T17:55:00","guid":{"rendered":"https:\/\/tomwatkin.com\/?p=2462"},"modified":"2023-07-14T06:23:08","modified_gmt":"2023-07-13T22:23:08","slug":"business-development-priorities","status":"publish","type":"post","link":"https:\/\/tomwatkin.com\/?p=2462","title":{"rendered":"How to Set Your Business Development Priorities"},"content":{"rendered":"\n<p>How do you set your business development priorities? Business is messy and, unfortunately, business development is no different. Opportunities flying in from all directions. Proposals and quotes requiring compilation and review. Communications and relationships requiring consistent nurturing. Keeping all these balls in the air is impossible without some structure in place. In todays post I discuss a few ways to prioritize your business development activity.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter is-style-fill\"><a class=\"wp-block-button__link has-vivid-red-background-color has-background wp-element-button\" href=\"https:\/\/tomwatkin.com\/?page_id=2365\" style=\"border-radius:5px\"><strong>Smash Some Early Wins:<\/strong> <strong>Grab Your Business Development Guide<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Simple Segmentation<\/h2>\n\n\n\n<p>Running your day to day takes to-do lists or similar. But aligning your effort with company purpose and direction is essential for longer-term success. This is where the <a href=\"https:\/\/tomwatkin.com\/?p=2287\">tactical action plan<\/a> assists. Boiling down your assessment and planning into a series of systematic actions keeps you on point with both the low-hanging fruit and the strategic long-term goals.<\/p>\n\n\n\n<p>However, prioritizing customers is essential in maximizing your impact. An easy method is to segment your customers based on:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Potential service spending<\/li>\n\n\n\n<li>Need for your company offering<\/li>\n<\/ul>\n\n\n\n<p>For example, a mid-tier environmental consultancy might segment their customers into three priority tiers:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tier 1: $100,000\/year spend and\/or many environmentally sensitive projects<\/li>\n\n\n\n<li>Tier 2: $60,000\/year spend and\/or some environmentally sensitive projects.<\/li>\n\n\n\n<li>Tier 3: $30,000\/year spend and\/or fewer environmentally sensitive projects.<\/li>\n<\/ul>\n\n\n\n<p>As you can see, looking through your customer list and placing them into each tier makes prioritization of effort relatively simple.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/tomwatkin.com\/wp-content\/uploads\/2023\/05\/brett-jordan-7u2HFQnNcx4-unsplash.jpg?resize=480%2C360&#038;ssl=1\" alt=\"\" class=\"wp-image-4273\" width=\"480\" height=\"360\" srcset=\"https:\/\/i0.wp.com\/tomwatkin.com\/wp-content\/uploads\/2023\/05\/brett-jordan-7u2HFQnNcx4-unsplash.jpg?w=640&amp;ssl=1 640w, https:\/\/i0.wp.com\/tomwatkin.com\/wp-content\/uploads\/2023\/05\/brett-jordan-7u2HFQnNcx4-unsplash.jpg?resize=300%2C225&amp;ssl=1 300w\" sizes=\"auto, (max-width: 480px) 100vw, 480px\" \/><figcaption class=\"wp-element-caption\">Business development priorities are critical to success<\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">Achievable action<\/h2>\n\n\n\n<p>Following the segmentation of customers a framework will guide the next stage action. But, how regularly do the contacts for each priority tier need to be actioned? Of course, this depends upon the circumstances found within your industry.  <\/p>\n\n\n\n<p>Personally, I define first priority customers as those who are in a strong position to buy. Actions should be occurring on a monthly basis to keep your offering front of mind. Giving second priority and third priority customers a longer-term action timeframe to start is good. Once they show signs of considering your offering, the priority level and action cadence can be increased. This is summarized in the priority matrix below.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"446\" height=\"96\" src=\"https:\/\/i0.wp.com\/tomwatkin.com\/wp-content\/uploads\/2022\/08\/Priority-Matrix.jpg?resize=446%2C96&#038;ssl=1\" alt=\"\" class=\"wp-image-2459\" srcset=\"https:\/\/i0.wp.com\/tomwatkin.com\/wp-content\/uploads\/2022\/08\/Priority-Matrix.jpg?w=446&amp;ssl=1 446w, https:\/\/i0.wp.com\/tomwatkin.com\/wp-content\/uploads\/2022\/08\/Priority-Matrix.jpg?resize=300%2C65&amp;ssl=1 300w\" sizes=\"auto, (max-width: 446px) 100vw, 446px\" \/><figcaption class=\"wp-element-caption\">Example Priority Matrix<\/figcaption><\/figure>\n<\/div>\n\n\n<p>This matrix allows the business developer to quickly consider each contact in the <a href=\"https:\/\/tomwatkin.com\/?p=2287\">tactical action plan<\/a> easily allocating a due date based on priority level. There is a fine line between keeping your offering and brand in the mind of the customer and being perceived as annoying. Take this into account when developing your own priority matrix and adjust the timings as required.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Final thoughts<\/h2>\n\n\n\n<p>Making the most of your time is a key part of every business developers role. Segmenting customers and assigning priority action cadences reduces the number of daily micro decisions while keeping focus on the most important customers.<\/p>\n\n\n\n<p>I invite you to review your customer segmentation and priority cadence. Is it clear? Are the right customers being prioritised? Most importantly, is there a defined system? If not get to work creating one. You&#8217;ll find your time will be spent more productively because of it.<\/p>\n\n\n\n<p class=\"has-white-color has-text-color\">Business Development such a challenges<\/p>\n\n\n\n<p>If you want to upskill your work winning check out my flagship course <em>Business Development Academy<\/em>. This leads you through the business development process step by step. Giving you the skills, system and processes to be more purposeful in the market place. To learn more click the button below.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-vivid-red-background-color has-background wp-element-button\" href=\"https:\/\/tomwatkin.com\/?page_id=3577\"><strong>Business Development Academy<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p class=\"has-white-color has-text-color\">Business Development priorities<\/p>\n\n\n\n<p>Are looking to begin your Business Development journey but are not quite sure where to start? Download my guide to scaling your revenues in 10 days. This gives you 10 days of achievable action to set you on the right path.<\/p>\n\n\n\n\n\n<p>For a definition of business development you can check out <a href=\"https:\/\/tomwatkin.com\/?p=2522\">my take in this post here<\/a>.<\/p>\n\n\n\n<p>For a simple yet comprehensive framework to base your business development activity around I recommend checking out my new book <em>Business Development Begins Here<\/em>. It is available to order on <a href=\"https:\/\/www.amazon.com\/Business-Development-Begins-Here-Watkin\/dp\/1646637844\/ref=sr_1_1?crid=3ATJBL5WCKGU3&amp;keywords=Business+Development+Begins+Here+by+Tom+Watkin&amp;qid=1659968722&amp;s=books&amp;sprefix=business+development+begins+here+by+tom+watkin%2Cstripbooks%2C49&amp;sr=1-1\">Amazon<\/a>. Visit the link to grab your copy now.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><a href=\"https:\/\/www.amazon.com\/Business-Development-Begins-Here-Watkin\/dp\/1646637844\/ref=sr_1_1?crid=3ATJBL5WCKGU3&amp;keywords=Business+Development+Begins+Here+by+Tom+Watkin&amp;qid=1659968722&amp;s=books&amp;sprefix=business+development+begins+here+by+tom+watkin%2Cstripbooks%2C49&amp;sr=1-1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/tomwatkin.com\/wp-content\/uploads\/2022\/09\/mockup-of-a-paperback-book-on-a-dark-color-metal-surface-3416-el1_small.jpg?resize=470%2C314&#038;ssl=1\" alt=\"\" class=\"wp-image-2616\" width=\"470\" height=\"314\" srcset=\"https:\/\/i0.wp.com\/tomwatkin.com\/wp-content\/uploads\/2022\/09\/mockup-of-a-paperback-book-on-a-dark-color-metal-surface-3416-el1_small.jpg?w=626&amp;ssl=1 626w, https:\/\/i0.wp.com\/tomwatkin.com\/wp-content\/uploads\/2022\/09\/mockup-of-a-paperback-book-on-a-dark-color-metal-surface-3416-el1_small.jpg?resize=300%2C200&amp;ssl=1 300w\" sizes=\"auto, (max-width: 470px) 100vw, 470px\" \/><\/a><figcaption class=\"wp-element-caption\">Order your copy now!<\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"has-white-color has-text-color\">N<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How do you set your business development priorities? Business is messy and, unfortunately, business development is no different. Opportunities flying &hellip; <\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/tomwatkin.com\/?p=2462\" class=\"more-link\">MORE +<\/a><\/p>\n","protected":false},"author":1,"featured_media":4276,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[53,3,20,26],"class_list":["post-2462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-aim-phase","tag-business-development","tag-priorities","tag-strategy","featured-image-below","featured-image-size-"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Set Your Business Development Priorities<\/title>\n<meta name=\"description\" content=\"Setting business development priorities is an essential way to maximise your time and effort. 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