Should I Wait Until January To Start Business Development?
This is a common sentiment around this time of the year.
This is the Thanksgiving to New Year period where many businesses slow down, even close down for several weeks.
Nothing happens until the new year.
Decisions are delayed, vacations are taken.
No new business is made, so let’s meet again in January and discuss.
However, this goes against several secrets of new business development that strongly point in the opposite direction.
Let me explain.
First - don’t pinch the pipe.
New business is described as a pipeline, and this very name indicates that leads are funneled into a long[ish] pipe through which they pass to transition into clients.
By nature of being a pipeline, time is required for most leads to transition from cold prospect to paying clients.
Water needs to go into the pipe today, to come out of the hose in several days, weeks and months.
If we pinch the pipe - stop prospecting our outreach activity - we don’t feel the effect immediately because the pipe still has water in it..
However, in several weeks or months, exactly the time when we need water, we find the flow stops.
As such, water input needs to be consistent to gain water output consistently.
Second - quiet periods are in fact fertile periods to reach decision makers.
While indeed many businesses do not sign contracts or make large business decisions during quiet periods such as the end of year.
This period is in fact a good time of the year to reach decision makers who have down time to read emails, reflect on plans and who are scheduling their new year push for targets.
Reaching out during quiet periods, even on weekends, evenings and during vacation periods, is indeed fruitful for catching decision makers as they reflect and consider their next steps.
You might not sign new business during this time, but you may well get meetings booked, even if these meetings are pushing into the new year.
Third - new campaigns require incubation periods.
If you are considering a 2024 push for new business, you do need to count back several weeks to account for incubation.
This means time to buy new domains and warm up inboxes, time to research leads, plan messaging and set up campaigns.
Quiet periods are perfect periods to START new campaigns because the incubation period is best completed BEFORE a peak period.
As such, incubation periods during summer break, winter break and other low market periods is a great time to get your ducks all in row.
If you would like to start your 2024 new business year strong, reach out and we can book a call to discuss further.