Tag Archives: business development

The Currency of Communication

Volume can be misleading. Increasing the decibel level is no guarantee a message will be heard. Exercising the loudest voice in the room doesn’t equate to connecting with anyone. Bigger and louder — shake-the-ground-you-stand-on-boom notwithstanding — doesn’t ensure anything will resonate. And siren call aside, the same is true for even the most seductive distribution … Continue Reading

If Your Approach To Business Development Doesn’t Include THIS, Think Again

Recently I came across a McKinsey article titled Getting Beyond the BS of Leadership Literature. It’s worth the time (and was a bit indicting); but this is not a post on leading. This is about business development BS. Or, more accurately, what often goes unsaid when Biz Dev is the topic. If you’re concerned with … Continue Reading

Business Development Efforts That Put You In The Right Place At The Right Time

Some seem to have an uncanny knack of being in the right place at the right time; but when it comes to business development, success is rarely happenstance. In fact, the epitome of strategic marketing and sales is taking the steps necessary to reach the right target, at the right time, with precisely the right … Continue Reading

For Business Development Clarity, Begin With A Focus On Target Identification

When it comes to business development, few things bring the clarity that comes with a focus on targeting. But for who-knows-how-many-reasons, few things are more difficult for many professional service providers. It is a heck of a lot easier to discuss getting our name out there. Or, building a list of all the XYZ type companies in a given geography. … Continue Reading

4 Cornerstones of Strategic Business Development

Any discussion of business development should be required to begin with this disclaimer: There are no one-size-fits-all solutions or formulas. Silver bullets and cookie-cutters might work elsewhere; but not here. With that stipulation, there are a number of solid cornerstones that will ensure the resources invested in your plan for the coming year aren’t experimental in nature, leaving you to hope the … Continue Reading

3 Keys to Better Conversations and the Strategic Innovation of Your Business Development Plan

There is a reason so many of the issues we face today are the same ones we faced last week. Or last year. Or three years ago. Or . . . you get the idea. From individual relationships to global politics…personal finance to marketing a business, often the solution on which we land is little more than a reordering … Continue Reading

Is Your Business Development Strategy Really Just To Hope The Market Picks You?

Does the success of many of our marketing or business development plans hinge on the hope that our market somehow finds and chooses us? Oh, we talk about strategies and grand plans. We might even flirt with data, throw a few targets up on the whiteboard, and make a pass at mapping relationships. But reality sets in. … Continue Reading

The Best Business Developers I Know Share Four Characteristics

There are markets where sales is little more than a numbers game. Make enough calls, knock on enough doors, ask the question over-and-over, ignore objectionns, and you’ll close some deals. But you won’t build many relationships. And that means that next month…or next quarter…or next year you get to start all over again. Call. Knock. Ignore. Persist. … Continue Reading

Great Marketing Events Are Catalysts To Business Development Conversations

The event you just hosted, sponsored or participated in represents a good beginning. Introductions. Conversations. A chance to build a bridge or two…or shore one up. This is what the event driven activities in your business development and marketing plan are about. Connections. Face time. One piece in a strategic plan of action. If you’re … Continue Reading

Targeted Business Development, Or Pursuit Of The Broad Side Of An Empty Barn?

Where business development efforts are consistently slow-going, there’s a good chance the issue is related to smart targeting. Specifically…the lack thereof. Here’s a quick exercise. Pull out a business development plan (it’s likely stashed in that lowest drawer), and comb through it for two things: the names of individuals that are the subject of the action … Continue Reading

Smart Targeting: Does Your Business Development Begin Here?

(Note: This is an update of an early 2012 post on one of the cornerstones of effective business development.) If you wrestle with knowing where to begin, and then actually executing on a strategy designed to develop new business (you’re not alone!), very few things will bring the clarity that comes with a focus on Smart Targeting. From … Continue Reading

Begin 2014 Facing Business Development Truths

Countless hours are about to be spent in meetings, on conference calls, and in early morning or late night hand-wringing sessions among law firm and professional service leadership. The focus? Identifying strategies and creating plans that solve a glaring deficit in business development progress. Risking sounding negative this early in January, here is what will … Continue Reading

Winning The Debate or Collaborating Toward Success?

There are few things we value more than winning.  From t-ball to spelling bees to the professional sports franchise we adopt, nothing matches the thrill of finishing on top.  It impacts (some might suggest, disproportionally) self-image, the way we relate to those around us, and commerce. While it’s tempting to go off on the relative value … Continue Reading

A (Simple) 3-Part Formula For Business Development Success

Business development in the professional services sector is not rocket science — complex plans, a distaste (or outright dislike) for “selling”, even personality type notwithstanding. Anyone possessing the will and the discipline to follow a simple formula can, over time, develop new business. What is this formula? {Target Identification} + {Understanding of Drivers} + {Solution … Continue Reading

Build A Robust Network And Create A Pipeline of Business

More than a dozen years ago I stepped into my first business development meeting with a lawyer. When I asked this individual to describe his target market, the reply was something like “my ideal client is the next person that calls or walks into my office, needing help putting a business deal together.” Translation: this … Continue Reading

The (Genius) Preschooler’s Approach to Strategic Business Development

(Note: this is a reprise of a post that originally appeared on  Alicia Arenas‘ Senera Camp Blog.) A university grad student challenged me to come up with a practical approach to marketing, sales and business development — one not dependent on mega-budgets, Big Data, or unlimited human resources. One the garage entrepreneur or corner donut … Continue Reading

The ABC’s Of Business Development

Business development is not very complicated. Granted, it requires many to stray from a comfort zone, and the combination of science and art is often disconcerting; but the formula for success is not difficult to understand. If you know of a business development effort that isn’t producing, chances are someone is making it more complicated … Continue Reading

Where Communication, Marketing and Effective Business Development Begin

Every student of communication theory is familiar with the concept of Shared Experiences. This is the coveted sweet-spot where barriers fall, gaps are bridged, and — thanks to commonalities — communication takes place. Theoretically. It is a beautifully simple theory. But in practice, it is far from simple. A recent Seth Godin post, The People … Continue Reading

Want Marketing That Connects and Resonates? Pick A Target Before You Begin.

Every marketer is familiar with the challenge of crafting a strategy that rises above the noise of a crowded marketplace. It goes something like…“If our name was just out there more…what can you do to help us stand out?” It is as if delivering the right artwork will transform a mere mark into a logo … Continue Reading

Dead Air Killed The Radio Show. (Don’t Let Your Business Development Efforts Become The Next Victim)

A lifetime ago, in what seems like a galaxy far away, I spent some time in the broadcast industry. More specifically, in a radio studio. In that era, the fast paced “Top 40” genre topped most markets, and was designed to sound slightly anti-establishment with a shoot-from-the-hip tone. In reality, it was a highly structured, … Continue Reading

Business Development, The Client Experience, And Loyalty In The New Normal

It was early October a decade ago — long before talk of a “new normal.” And a BigLaw firm was very comfortable in its relationship with a satisfied client. By almost any standard, the comfort seemed well founded. In the four years prior, the firm had won a bet-the-company battle in court, and subsequently created … Continue Reading