06 May 2006

Have a little patience

One of my clients won a new piece of work a couple of weeks ago. It's a reasonable size job but it only took him a day to sell it. Better, it gives him access to a new market segment he thought would take him much longer to enter.

He met someone a couple of years ago and during the course of their conversation had mentioned what he did. Over the last 2 years my client saw that contact only once, earlier this year, and the content of the initial conversation wasn't brought up. Truthfully, the contact didn't do much with the information until March this year when he encountered a business acquiring a target with several locations - cue an introduction to my client.

The acquiring business was delighted to find out how quickly they would be able to get solid management information out of the business they were buying and signed up almost as quickly as my client could confirm the price.

If you are impatient, then the idea of waiting 2 years for an introduction is anathema. Sometimes you have to be more relaxed ... things can take time and it is important to recognise the difference between those situations where a sense of urgency would be helpful and those where it is better to leave things alone. It's a good philosophy if you can encourage people to buy from you rather than you actively selling them into submission.

Business Development is very often a series of activity investments all of which have different ROIs and all of which pay back on very different timescales. The important thing is to do a variety of things and let nature take its course.


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