What do you do when you find a nickel on the sidewalk? Do you pocket it? Try to find its owner?  Leave it there for the next person? How does it feel? 

Now, consider what you might do if you find a dollar on the sidewalk. Do you pocket it? Do you leave it there for the next person? Do you try to find its owner? How does THAT feel? 

What about a $20 bill? Or $100? 

Of course, it is much more likely that you will find a nickel accidentally dropped on the sidewalk; people are more apt to drop loose change without noticing it. And, if you find 20 nickels, you've found a dollar. However, if you are like most people, the prospect of finding a $1 bill is more exciting than the prospect of finding a nickel.

The CEO of a company I once worked for suggested at an all-hands meeting that the thrill of the pursuit of $1 (or $20) often causes business development professionals to ignore the nickels, which leads to lost opportunities for improvement and revenue. 

I've seen this over and over again in my business development work. I've observed many organizations pursuing the thrill of the sales to the big client or the grant from the prestigious donor, without careful thought about the fit between the prospect's needs and interests and the organization's capabilities and value proposition. The lure of "the big one" often leads leadership to minimize the value of work of cultivating and closing little sales—the nickels—along the way.

Based on my observations, the reasons B2B sales or nonprofit fundraising operations may miss the nickels include:  

• Desire for the intoxicating feeling of "bagging" a big sale.

• Financial and other compensation structures that reward big sales over little sales. 

• Lack of respect for the individual and collective value the nickel customers bring to brand awareness, customer footprint, and revenue. 

• Pressure from senior management to find big sales to meet revenue goals or expand brand visibility.

• Absence of resources needed to scan and cultivate the landscape for smaller sales. 

The thrill of being lucky enough to find $1 can catalyze significant organizational and sales energy. But, this isn't a sustainable business model. 

So what does it take to win?

As a capture management and proposal professional, it is my experience that a more successful business is strategically positioned to find the proverbial nickels. As they find more nickels, their brand grows, which makes it easier to allocate resources to find the dollars.  

The successful businesses I've worked with have prioritized: 

1. Deeply learning how their ideal audience(s) will use their products and services to advance their own business objectives. 

2. Developing and deploying strategic messaging to align their products and services with their ideal audience(s)' business objectives, culture, and budget. 

3. Building close relationships with decision-makers within their ideal audience(s) through which they convey the fit between what they're selling and what their audience needs. 

4. Carefully examining dollar sales, to make sure they are a strategic fit and the business is well-positioned to win. This includes having the courage to say, “We shouldn’t pursue this right now.”

5. Celebrating the nickel sales, as well as the dollars. 

These five steps require intention, resources, time, and patient leadership. 

Where does your business or nonprofit stand? Are you organized to pursue dollars or cents, or ideally both? 

If your business or nonprofit is ready to be better positioned to sustainably secure new sources of funding, please reach out.