New Business Development
Real Concerns for the "Truly Small Business"
Marketing and New Business Development! So necessary to survival and growth yet such an illusive, confusing and oft-times expensive function. And we all know it. My thoughts and plans on this issue follow:
Without effective marketing and new business development, especially in government contracting, a firm cannot fairly compete in the marketplace.
In my opinion, there continues to be "Information Overload" for the very small and medium small firms. So many resources, so many government agency sites, so many basic training options depicting the same information. Am I not right?
To hire an experienced New Business developer, on an employee or consulting basis, is costly. Yet you must move in one of those directions eventually.
Let's face it, most of the time, it still matters who you know and what resources (money) you have to put toward this function. And how do we as small players get to know the right people or get access to the tools the growing and large firms do?
You are my colleagues, and over the years this has been an issue that I constantly sought to assist many of you, where I could, offering my extensive "real life" experiences as it pertains to marketing.
From a cost and pricing aspect, I have asked, and continue to ask, that everyone include a projected cost for "New Business Development" in their G&A or Overhead budgets so the cost would be reflected in any bids and proposals that you win.
I have been approached my marketing firms and individuals offering their services but I have yet to consider any to offer for our members consideration. Until now.
I have been in discussions with a firm that has been around for more than 30 years. I am looking to get realistic information on what they can offer and if the service they offer can "really" help the truly small business (you, my colleagues). No Hype, but Results.
Some of you may be familiar with or already using this or a similar firms services. I am in the process of evaluating whether our colleague firms should consider following-up with them to find out more.
For now, what I can again ask you to do is, include a projected indirect cost in your upcoming budgets and proposals of between $500 and maybe $1,000 per month for "New Business Development" support (or if you call that function Marketing or Selling). Do not call it advertising!
Check to see if where within the range of $500-$1000 monthly may significantly impact your Projected Indirect Rates. Generally, at least on the lower end, it should not significantly impact your rates, but check it out.
I will be conferencing again shortly with this well established firm and seeking to obtain a discount to our online community subscribing members for at least the first year to allow you to evaluate the cost/benefit of the service. Maybe we can get a discount based on the number of firms in our community who are interested. Hey, it doesn't hurt to ask.
I have been told that the average growth in business is 10%-20% for those firms that use the service and tools. But being skeptical, I would ask those who do decide to try the service to evaluate it by "Results".
I would truly like to see our taxpayer dollars, through stimulus or other funding, go to offset this cost for our truly small business colleagues. Yes, I would like to be able to discuss this with with decision makers at the SBA, Department of Commerce, DOD, and other agencies that are established to assist truly small businesses.
But as I like to say, it is what it is and I have not been given that opportunity yet. So I provide insight and advice directly to you, while seeking to negotiate discounts for services and tools typically available and affordable to large firms.
We have to level the playing field whenever and wherever we can.
If you feel new business development is critical to sustaining your business and growth, and you feel you are are able to redirect some of your resources ($500-$1000 per month) for this function, then please send me an email ([email protected]) expressing your interest in finding out more. The more interest generated, perhaps the better discount I can negotiate!
I will be sending out a special notice to all of our online members as soon as I complete my negotiations on your behalf. Make sure I have your current email address.
As always, I will provide you contacts that you can follow-up with and ask all the questions you need to make your own decision.
When the time comes remember to ask what your options are if you do not feel the service and tools deliver what you expected. Okay?
Those are my thoughts and plans on the topic.