Too Many Neglected Opportunities...Eating At Your Future Foundation

By Sid Chadwick, Chadwick Consulting, Inc. – 04/17/2025

Published in American Printer : “Sid provides practical, actionable advice to help you discover new business opportunities and drive your success. Read Sid's insights on strengthening your company and creating a brighter, more prosperous future.”

“Whatever you can do, or dream you can, begin it. Boldness has genius, power and magic in it.”…….Johann Wolfgang von Goethe

INTRODUCTION:

There is no lack of opportunities – for current and new business – growth.

An overview of the problem? We fail to do our homework…and …There’s no public Master Checklist….holding individuals accountable…!

Here’s my short list, representing “Business Development Team Opportunities”:

1. “Neglected House Accounts.” House Accounts tend to gain this designation – because they tend be small companies, without much volume. However, they can be a treasure of Information and Introductions….including Referrals – and – Suppliers – representing significant opportunities…

2. Customers who bought from us last year, and even two years ago, but not this year…..Surely a Target for – Renewing a Previous Relationship….!

3. Identify – the most profitable customers your company services, and then – do something radical: “Learn to Research through your local Library” – those customers’ SIC Codes, for – “Who else also has those (or similar) SIC Codes” and business profiles – within 50 miles (or 100, or 300, or 500 miles) – of your company. (Note: If those most profitable customers could buy cheaper – and they surely can – Why don’t they…..?)

High profitability of a customer, or group of similar customers – is an indication of important relationship conditions, relating to your organization’s Market Differentiation – such as:

(a) They really like what we do, who we are, what we produce for them (learn what that is…!).

(b) We understand and reliably produce – to high levels of acceptability – what they want, and how they want it.

(c) Our current high profit customers represent credible references – for opening “new customer doors” with similar profiles.

SUMMARY:

One of the most important decisions that occurs in a company is: “Who should we pursue - for additional business…?” (Note: That decision profoundly impacts our future performance…!)

In most organizations, that understanding has not been: (a) critically determined, and (b) put in writing – with frequent reviews – for guiding the Business Development Team’s efforts – toward improved financial performance.

All dollars of revenue from customers – flowing through your company – are NOT equal…!

The future of your organization – is very much being determined by – Who you select to develop….!

“Time is the scarcest resource, and unless it is managed, nothing else can be managed.”……..Peter Drucker, Consultant, Writer, Lecturer, Philosopher