As the end of the year approaches, salespeople are focused on closing deals and hitting their numbers, while sales leaders are working to support them in their efforts. With holiday schedules, looming deadlines and annual goals on everyone’s minds, it seems as though there is always something to do.

But in all that year-end activity, there’s an important question worth asking: Are you overlooking any opportunities?

At Business Development University (BDU), we talk a lot about “squeezing the lemon” to make the most out of every opportunity. As the year winds down, this becomes especially important.

While it’s tempting to focus all your energy on the deals you’re trying to close, some of your biggest opportunities may be hiding in places you haven’t thought to look.

Whether you’re a salesperson working toward your annual goal or a sales leader helping your team reach theirs, here are five areas worth exploring so you can make sure you’re being as comprehensive as possible in your approach to year-end sales success.

1. The Untapped Potential Within Your Existing Accounts

When you’re trying to bring in more business before the year ends, you may think you have to focus on bringing in all new prospects. But what about the clients you already have?

Are your current clients taking advantage of everything you have to offer? Are there other departments, divisions or locations that could benefit from your products or services? Have their needs changed since you first started working together?

One of the best ways to uncover these opportunities is by creating a white space matrix.

Start by listing your current clients and the different products or services you offer. Then, identify which clients are using which solutions and where there may be gaps. Those gaps represent potential opportunities.

This isn’t about just selling anything to anyone simply to hit your numbers. It’s about identifying additional ways to provide value to your clients.

Put It into Action: Identify your top five accounts and ask yourself, “If I were just starting to work with this client today, what opportunities would I explore that I haven’t explored already?”

*Sales Leader Takeaway: This is a great exercise to work through with your direct reports. Set aside some time together to review their key accounts and help them identify opportunities they may not have considered. Challenge each salesperson to develop a white space matrix for their top accounts. Ask where they see potential gaps, which additional decision makers they could connect with and what conversations they could have that might uncover new needs.

2. The Prospects and Former Clients Who Already Know You

How many people have you spoken with throughout the year who expressed interest but never moved forward? Maybe the timing wasn’t right, their budget wasn’t approved or they had other priorities that took precedence.

Whatever the reason might have been, those relationships don’t necessarily represent lost opportunities. As the year comes to a close, they just might end up being some of your best prospects!

Don’t underestimate the power of focusing on the core — including your best clients, top prospects and people who have expressed interest in the past.

When was the last time you took a good look at the contacts sitting in your CRM? Start by identifying prospects who’ve expressed interest but never moved forward, former clients who may have new needs and contacts whose timing wasn’t right earlier in the year. Then, think about what may have changed since your last conversation.

Instead of sending another generic “just checking in” email, give them a reason to reconnect. You can pick up the phone and reach out with a call, or you can send a more detailed email giving them a reason to respond. For example:

“When we last spoke, you mentioned that improving your team’s sales performance was a priority but the timing wasn’t right. As you’re planning for the new year, I had some additional thoughts and ideas that I wanted to share, and I would love to set up a time to discuss.”

Put It into Action: Identify 10 promising contacts you’ve lost touch with and develop a specific reason to reach out and reconnect with each one.

*Sales Leader Takeaway: Don’t just tell your direct reports to follow up with old prospects. Help them figure out which relationships have the greatest potential and how to approach them. Sit down with each salesperson and review their list together. Ask what prevented those prospects from moving forward, what may have changed and what they could do differently this time around. You might even turn this into a quick team exercise. Have everyone identify 10 promising contacts they haven’t spoken with recently, develop a specific reason to reconnect and share their approach with the group.

3. The Opportunities Hidden in Better Sales Conversations

Sometimes the biggest missed opportunities aren’t about who you’re talking to. They’re about what you are, or aren’t, asking.

Think about your recent sales conversations. Are you truly uncovering everything you need to know, or are you just moving through your usual questions and jumping too quickly to offer a solution?

It’s easy to fall into familiar patterns, especially when you’re busy trying to finish up the year. However, the more you understand your prospects’ challenges, priorities and goals, the better positioned you’ll be to identify opportunities to help.

In our AUTUMN (and Year-Round) Tips for Sales Success blog post, we encourage salespeople to UNCOVER new opportunities by exploring approaches they may not have considered before.

One way to do that is by digging a little deeper during your conversations. Instead of asking only, “What are your goals for next year?” consider following up with questions like:

• What’s preventing you from achieving those goals?
• What have you tried so far?
• How is that challenge impacting your business?
• What happens if nothing changes?
• Who else within your organization is impacted?
• What would solving this problem mean for your team?

These questions can help uncover needs that may not have surfaced during your initial conversation.

Also, don’t assume you already know everything about an existing client just because you’ve been working together for years. Businesses, people and priorities all change.

Try This: Before your next sales conversation, prepare three additional questions that will help you uncover something you don’t already know. For a comprehensive tool to guide you through these meetings, download BDU’s free Client Visit Checklist from our BDUtensils library.

*Sales Leader Takeaway: This is a great opportunity to observe your direct reports in action! Sit in on a few sales calls or meetings and pay attention to the questions they’re asking. Are they uncovering the prospect’s real needs and asking effective follow-up questions, or are they missing opportunities to dig a little deeper? A few minutes of thoughtful coaching can help a salesperson recognize opportunities they may have missed and improve the effectiveness of their conversations moving forward.

4. The Introductions You’re Not Asking For

How many people in your professional network could introduce you to someone who needs what you offer, and how many of those people have you actually asked?

Referrals are a valuable source of new business, yet they’re often overlooked because salespeople assume satisfied clients and professional contacts will automatically think to make introductions. Unfortunately, that’s not always the case. People may be willing and happy to help you, but they need to understand who you’re looking to meet.

Instead of asking a general question like, “Do you know anyone who might need our services?” try being more specific.

For example:

“I’ve recently helped several companies that were struggling with getting their salespeople to keep their pipelines consistently filled with good, qualified opportunities. I would love to connect with any CEOs or sales leaders you know who manage B2B sales teams to see if I have any ideas that could help them as well.”

A specific request gives someone a clearer picture of who might be a good introduction. Don’t limit yourself to just current clients. Past clients, former colleagues, centers of influence (COIs) and even past prospects may know people who could benefit from your expertise.

Another thing to consider is what might be holding them back from making the introduction. When someone refers you to a person in their network, they’re putting their reputation on the line and trusting that you’ll treat that relationship with the same care that they would.

That’s why it’s important to acknowledge the relationship capital they’re investing when they make an introduction.

You might say something like:

“Please know that I understand that by making this introduction, you are spending some of your relationship capital. Not only do I want to protect that, but I would love to help you build even more of it. I will never try to sell anyone you refer me to. If I can find a way to help them, that’s great. If I can’t, there’s a good chance that I can at least refer them to someone who can. Ultimately, I’d love for them to come back to you and thank you for connecting us.”

Your Next Step: Identify five people who know you and the value you provide. Reach out with a specific, thoughtful request for an introduction.

*Sales Leader Takeaway: Help your direct reports become more intentional about generating referrals. Are they consistently asking for introductions, do they know how to make a specific referral request and have they identified the relationships most likely to lead to valuable connections? Consider using part of a team meeting to brainstorm potential referral sources and practice how to naturally ask for introductions. You can also encourage your team to look for ways to make valuable introductions for others as strong relationships are built on mutual value, not just asking for favors.

5. The Opportunities You’re Missing by Doing Things the Same Way

Sometimes the opportunities you’re overlooking have less to do with your prospects and more to do with your approach.

Think about the activities you’ve been doing all year. Are you reaching out to the same types of prospects, using the same messaging and following the same routine?

If you’re getting the results you want, that’s great! However, if certain activities aren’t producing the outcomes you’re looking for, why continue doing them the same way?

In Don’t Waste the Season: Fall Tips for Strong End-of-Year Results, we emphasize the importance of revamping your game plan based on which activities are producing the greatest return on your efforts.

That doesn’t necessarily mean completely overhauling your sales strategy. Sometimes just a small adjustment can make a huge difference.

Maybe you need to:

• Target a different decision maker within an organization.
• Change the way you open prospecting conversations.
• Try a different approach to following up.
• Explore an industry or market segment you haven’t previously pursued.
• Spend more time on activities that have produced your best opportunities in the past.

The key is to make intentional changes rather than simply do more of what hasn’t been working.

Make It Happen: Identify one activity that isn’t producing the results you want. Make one intentional adjustment, test it out and evaluate what happens.

*Sales Leader Takeaway: Examine what’s happening across your team. Are some direct reports having success with approaches that others haven’t tried, or are there common challenges that could be addressed through coaching or collaboration? Instead of simply encouraging everyone to increase their activity levels, help them evaluate whether they’re spending their time on the right activities. Bring your team together to share what’s working and encourage your top performers to discuss the strategies that are producing results to help others determine how they might apply those same approaches. Remember, it’s not just about how much activity is being done but how effectively and efficiently.

Squeeze the Lemon: Your Year-End Opportunity Audit

As the year winds down, take a few minutes to evaluate whether you’re making the most of the opportunities available to you and identify the key areas that deserve a little more attention right now.

For Salespeople: Are You Maximizing Your Opportunities?

• Have I reviewed my top accounts for additional products, services or departments I could be working with?
• Have I reconnected with prospects who expressed interest but never moved forward?
• Have I reached out to former clients who may have new needs?
• Am I asking questions that uncover deeper challenges and opportunities?
• Have I asked my best relationships for specific introductions?
• Am I making the most of my existing network?
• Have I evaluated which sales activities produce the best results?
• Can I adjust my approach when something isn’t working?

For Sales Leaders: Are You Helping Your Team Uncover Every Opportunity?

• Have I reviewed key accounts with my direct reports to identify untapped potential?
• Have I helped my team identify promising prospects and former clients worth revisiting?
• Am I coaching my direct reports to ask better questions and uncover additional needs?
• Have I observed sales conversations and provided timely, actionable feedback?
• Am I helping my team develop more effective referral strategies?
• Have I identified successful approaches that could be shared across the team?
• Am I encouraging my direct reports to evaluate the effectiveness of their activities?
• Am I helping each salesperson identify where they may be leaving money on the table?

You don’t need to tackle everything at once. Start by identifying the two or three areas with the greatest potential and create a plan for success.

And sales leaders, remember that your role isn’t just to identify opportunities for your team. It’s to help your direct reports develop the skills, strategies and confidence to make the most of them.

Don’t Let Your Best Opportunities Slip Away

As the year comes to an end, it’s easy to focus so much on what’s left to accomplish that you overlook what’s already within your reach.

Finishing strong isn’t about finding more prospects, making more calls or working longer hours. Sometimes it’s about taking a closer look at the relationships you’ve already built, asking better questions and finding new ways to maximize the activities you’re already doing.

For salespeople, that means being comprehensive in your approach and making sure you’re exploring every option.

For sales leaders, it means helping your direct reports recognize opportunities they might otherwise miss and giving them the coaching, guidance and support they need to make the most of them.

And while these strategies can certainly help you uncover opportunities before the end of the year, they’re just as valuable at any other time.

Because the opportunities you aren’t looking for are often the ones you’re most likely to miss.

At Business Development University (BDU), we help salespeople and sales leaders identify opportunities for improvement, develop practical strategies and turn potential into performance. If you’d like help uncovering where you or your team may be leaving money on the table, submit your information below and we’ll schedule a time to have a conversation.