IT Business Development – Why You Need Medium and Long Term Plans

Whilst considering your IT business development, it’s strategically important to consider your long-term and medium-term goals as the initiatives, objectives, projects, and tasks that you set out in the short-term have to flow downwards from these.

Your business will not have any direction if you do not set these goals, and just as dangerous is the fact that you will not have any criteria to help you to decide whether a project or client is right for your business.

Every initiative that you undertake for your business should be assessed as to whether or not it fits in with what you are trying to achieve in the medium- to long-term. If it doesn’t, then you shouldn’t undertake it.

Know Your Niche

For instance if your long-term plan is to service a particular niche and you decide to take on a client outside of that niche, it will impact negatively on your ability to concentrate on marketing and building up your reputation in your chosen niche.

Sometimes you need to take on projects outside of your chosen niche for cash flow reasons, but it’s important to make sure that you get yourself back on track as soon as possible. When I’m looking to build up new business, I always classify my search so that I know whether I’m looking for increased cash flow, increased visibility, or something that will provide increased opportunities down the line.

Be Open to Change

When you’re setting out plans for your IT business development it’s also important not to go into too much minutia. Your plans should be fluid and open to change. You have to find a balance between stifling your organization through rigid planning and not having any direction due to a lack of medium- to long-term plans.

How often do you review your IT business development goals and do you use them as part of your daily decision making process? Share your thoughts on the topic with us in the Comments section.  

And to follow-through on the tips introduced in this short article, be sure to download your free copy of the special report on 7 IT Sales Secrets for Attracting High-Lifetime-Value Clients. 

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