Often, when we work on training and business coaching projects, one of the questions we ask our clients is:
“Have you ever thought about offering some of your clients?”
As you might imagine, the look of astonishment on our clients’ faces must be precisely the one you have right now.
But don’t worry, we’ve already put it into context, and it will all make sense.
In any company, there is a set of business opportunities that are not likely to be realized.
Whether it is a matter of price, solution, or other, what is certain is that generally, these are situations in which we will invest time and often we will not get any return.
You are probably thinking:
“But shouldn’t we go to all of them?”
We’ve talked about this topic before, but briefly, the answer is no!
The time you waste on worthless opportunities is time you could use to detect and work on good opportunities.
That said, the question remains: what do we do with those contacts that come to us sporadically, or with those opportunities that we spot but it doesn’t make sense to address?
The solution we usually present to our clients is finding partnerships that can materialize these opportunities and negotiate a commission on the sale with them.
You might be thinking:
“But isn’t that giving the gold to the bandit?”
On a first approach, yes.
Usually, this is done only with the fringe of opportunities we are not interested in and have no potential in their follow-up.
Before passing on an opportunity, we have to analyze its actual value.
Have you ever heard the expression:
“You eat the bones first, and I’ll give you the meat next time?”
Many of our clients test us with worthless opportunities.
They are called “crap,” and only when we solve these problems do they give us the juiciest opportunities.
So the decision to pass or not pass usually has to be validated with other questions:
Number of employees
Areas in which we can solve problems
Analysis of billing performed on similar clients
Finally, this form of analysis varies depending on the client, business, product, or solution.
However, it is essential that the rules are clear and there is a defined policy for doing so. If the potential exists, we are not going to pass on these types of opportunities.
Now, when we talk about opportunities that are not worth it and that we are not going to win or that sometimes it doesn’t even matter to win, the situation is different.
The idea is that instead of not earning anything with these opportunities that are not interesting, we can at least have the possibility of earning something without effort or investment.
A little alert!
When negotiating these partnerships, look for companies that complement your area of expertise but not directly competing in all aspects.
In other words, what we are looking for is a symbiotic relationship.
For example, small businesses I pass to company X, large companies that they wouldn’t have the capacity to manage, they give to us.
The way in which these same opportunities are passed on may also differ.
The question that often arises has to do with the trust we have in the company to whom we are passing the opportunities.
If there is trust in their products or services, we can take them to our client directly or else subcontract them under our name.
If there is no trust, the best solution is often to pass on the opportunity but not go with them to the business.
The idea will be for them to make contact as if it were something spontaneous.
Often, companies fall into the “greed” of making extra money and forget that it is sometimes better not to make any more money than to have their name tarnished in the market.
Now, when the trust is there in the other company, it turns out to be a good policy to take advantage of the business potential.
This week, you already know, try to analyze your business process and see if you are betting on the opportunities that matter.
If you are not, why not consider these issues!
Also published on Medium.