Impetus in New Business
January 18, 2021
Is there anything left to say about last year?
The emotions, the struggle, the unprecedented nature of it all, the overwhelming sense that so much was taken away from us. And yet, the more subtle, masked and hopeful realisation that it has also given us something new.
That something, is Impetus.
According to Webster dictionary “Impetus” comes from the Latin verb “impetere”, which means “to go, to seek”, suggesting a forceful urging, momentum, akin to appetite.
We’ve rediscovered our innate impetus to adapt. An impetus to reimagine, to realise that things can and should be done differently. To reassess priorities and the meaning of success, both in our private and professional lives. As individuals, and as businesses.
An impetus to survive, to turn companies and propositions around in a storm of extreme uncertainty. To shift markets, audiences, skills, teams, mindsets, services…. to name a few things.
If there’s one thing to take away from last year, and this post, it’s Impetus.
Because when it comes to sales and new business – that’s what it comes down to.
The impetus to execute. With rigour, discipline, accountability, hunger, optimism. The ability to get shit done in the present, without ever losing sight of the long-term strategy and the planning that goes into it.
The natural, unprompted instinct to keep hustling, knowing that it might be weeks, months or even years before a prospect converts into a paying customer.
It’s one thing for agency leaders to know the mentality they need to adopt, but it’s a wildly different thing to master, implement and execute – every single day.
It’s difficult to master as an individual, let alone at scale across teams and divisions, for people with different skillsets, motivations and ambitions.
According to an Accenture study, 42.5% of sales and BD reps take 10 months or longer to become productive enough to start contributing to company goals, resulting in at least 15% of potential customers being lost along the way.
This is largely due to a lack of impetus coming from the top. For this reason, we’ve seen even the most brilliant agencies struggle with new business.
Since we’re at the start of 2021 – full of resolutions and positive energy for the year ahead – let’s consider this highly relatable comparison:
“Most people know how to get into shape – eat better, exercise more – they just don’t do it. It’s not a knowledge problem; it’s an execution problem”.
The positive thing is, you don’t need a life coach or a personal trainer to shift your mindset and your motivations. It all starts with producing and implementing a structured new business & marketing strategy, with clearly defined roles, responsibilities, timings and KPI.
Have you organised the next 12 months by planning regular campaigns around industry events and topical news? Who from the team is responsible for writing that thought leadership piece on the effects of digitalisation on global travel, perhaps because they have a genuine passion for it? Does this form part of their personal objectives for progression?
This is just one of the ways you can encourage greater collaboration across teams and contribution to your new business goals.
Have you considered and tracked how many of your leads come from inbound marketing efforts vs outbound sales outreach? You can track this easily with effective use of a CRM, which will allow you to visualise your commercial objectives for the year and work backwards to determine how much time your team should dedicate to sales prospecting vs producing tailored marketing content.
You’ll start to find that by implementing organised systems and structures, you will quickly gain the optimism, confidence and momentum which will fuel your ability to execute.
So, if you have ambitious new business plans for the coming year and you’d like to know what Impetus can do for you and your team – book a free workshop with us for a chat.