But we ignore it.
Its why, in part, the tenure of a newly hired, Junior New Normal, New Business person is so short. There is little chance, a new hire, lacking experience, political juice, resources or momentum, can accomplish New Business goals in an accelerated time frame – even in a company with a modest New Business effort in place.
Consider this: starting behind the line (see previous articles) takes even longer, and demands smarts, persistent effort, support, meaningful resources and time to deliver ROI; clearly, experience matters.
Prepped for #success?
The specter of rejection, and the character traits (lion tamer, mentor, conductor, therapist, gladiator, deferential, peacemaker, translator) required to be successful in a New Business role – are contributing factors to why many Exec’s do not embrace the job of New Business – it forces a person to “go wide, beyond their comfort zone, regularly. A successful New Business leader is a cheerleader, mentor, fearless, and humble, willing to admit “I don’t know”, and willing to take a back seat and listen: a set of conflicting traits indeed.
Who do YOU want to talk to?
What Prospective client wants to speak with anyone, but a “decider”, a senior member of the Agency Exec. team?
None, that’s who.
No Prospect wants to speak with New Business, a Salesperson or a Coordinator.
No prospective, qualified client who is serious, wants to be pitched.
That is why New Business should not act like Sales.
Prospects in a very short period of time, need to get a sense of confidence, and speak with, and get to know Agency decision makers and most of all, they want to sit with the folks they’ll be working with – as quickly as possible. They also want to know what people think about their challenges – so the team needs to be prepared, interested and engaged (accomplishing that is New Business’s job).
A New Business meeting is a great opportunity for the Agency to be transparent, and real. This is where an Agency prepares for #success, and commits to delivering “what you see is, what you’ll get”. Orchestrating this cat herding activity is New Business’s job.
Taking a hit
Its important for the Exec team to demonstrate strong leadership when a loss happens and face the rejection head on, and own it. Loss is a reality of business (and especially New Business), and part of the native terrain. Its easy to lead and show face when you win, but it’s even more important to hold your head high, learn from your miss (processing it through a thorough forensic analysis), and look ahead, when you take a loss.
These are some of the reasons why Agency’s should have strong, experienced leadership driving New Business.
In summary: New Business #Success
1 – New Business is the responsibility of the Exec.
2 – New Business prepares the team for #Success.
3 – New Business should not act like Sales.
4 – New Business should take the time to process losses.