Big deal of the day

Back in the mid ‘60s and early ‘70s, TV game show host Monte Hall would ask “Let’s Make a Deal” contestants to trade all their winnings for the opportunity to go after the Big Deal, hidden behind one of three doors. “Will it be door number 1, door number 2, or door number 3?” In business, there are always more options and the stakes are much higher. So unless you do some serious planning, you will definitely be headed for the dreaded “Zonk” prize. The fact is that you spend a lot of time and money trying to open the doors of opportunity for your business. You may do it yourself, or you may pay other people to do it for you. In any case, just getting introductions or meeting the right people won’t do your business any good without some serious planning that’s integrated with your entire business strategy.

Trick or treat

Life was simple when you were a kid. You knocked on a neighbor’s door on Halloween night and shrieked “trick or treat!” Did you ever really think that you’d get a trick? Of course not. The sales pitch was easy and always the same. The only uncertainty was what kind of candy they’d drop in your bag. If your business is starting to feel like a real fright night, it’s probably because you aren’t ready for what happens when you get a door to open with a potential customer.

The Boy Scouts have it right

Clearly, a firm handshake and a smile aren’t enough when you knock on the door of opportunity. But many entrepreneurs feel that a product demonstration with a “wow” factor is all they really need to cross the threshold and stay in the house. It may work sometimes, but you’d be better off following the Boy Scout motto -- be prepared. What does that really mean in the context of business development? (Hint: It doesn’t have anything to do with bringing a lucky rabbit’s foot to meetings.) It means that you need to have an integrated plan that includes sales, product development, and customer relationship management. It means that the opportunity on other side of the door needs to align with your strategic business objectives. And it means that you have to be prepared to follow through with incredible focus and determination.

Don’t delay

Believe it or not, the biggest problem that most entrepreneurs face is having too many opportunities. That’s because opening doors isn’t really the hard part of getting business. You can easily become a serial door opener and not a deal closer. Unfortunately, doors that open slowly can slam shut quickly with competitive winds blowing. As Yogi Berra said, “When you come to a fork in the road, take it.” Make a move, or someone else will.